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Posts Tagged ‘Atlantic Canada’

Killam Receives Recommendations From Ratings Firms

January 16th, 2017 Comments off
KillamReceivesRecommendationsFromRatingsFirmscreditRentalHousingBusiness-postedtothedailybusinessnewsmhpronewmhlivingnews

Killam President Philip Fraser. Credit: Rental Housing Business.

Canada based real estate investment trust Killam Properties Inc. (TSE:KMP.UN) received a number of recommendations from ratings firms recently, with an average recommendation of “buy.

According to Community Financial News, Canaccord Genuity decreased their price target on Killam Properties from C$14.00 to C$13.50 on January 5th.

Scotiabank reaffirmed its “sector perform” rating and set a C$13.75 target price on Killam shares in a report on November 2nd.

TD Securities reaffirmed its “buy” rating on Killam and issued a C$15.00 price target on shares of Killam Properties on October 11th.

KillamReceivesRecommendationsFromRatingsFirmscreditBloomberg-postedtothedailybusinessnewsmhpronewmhlivingnews

Killam 1 year look. Credit: Bloomberg.

As Daily Business News readers are aware, in addition to multifamily apartments, Killam owns 35 manufactured home communities in Atlantic Canada and Ontario.

Killam is also one of the manufactured home industry stocks monitored each business day on the MH Industry’s leading professional news resource, the Daily Business News, on MHProNews. For the recent closing numbers yesterday on all MH industry-connected tracked stocks, please click here. ##

(Image credits are as shown above.)

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RC Williams, for Daily Business News, MHProNews.

Submitted by RC Williams to the Daily Business News for MHProNews.

Atlantic Canada Firm Acquiring Manufactured Home Communities

March 19th, 2015 Comments off

mfg home antigonish nova scotia canada   north grant park   creditMHProNews has learned from ngnews.ca that Blair van Veld was chosen vice president of the Manufactured Housing Association of Atlantic Canada (MHAAC) in February. He and his father, Tony, own Twin Rivers Properties and Home Sales in Pictou, Nova Scotia, Canada near the Northumberland Strait.

The company recently acquired its second manufactured home community in Miramichi, New Brunswick, bringing the total number of owned communities to ten, comprising 540 homesites. Miramichi will be the site of the 500-job Canada Revenue Agency call center which will lead to more growth in that area.

He says the bigger players acquire the larger properties. “They’re now looking at 100 plus units while we’ll look at just about anything depending on the region, he said. “Regions such as Miramichi and New Glasgow have been a sweet spot for us for acquisition due to the fact that they haven’t been consolidated like areas like HRM or Moncton.

Twin Rivers experienced a 331 percent increase in revenue in the last three years, and has been ranked number two in Progress Magazine’s annual listing of Atlantic Canada’s fastest growing companies. ##

(Photo credit: northgrantpark–manufactured home, Antigonish, Nova Scotia, Canada)

matthew-silver-daily-business-news-mhpronews-com   Article submitted by Matthew J. Silver to Daily Business News-MHProNews.

Manufactured Housing Community Buyer Identified

December 2nd, 2013 Comments off

Following an earlier story regarding Killam Properties of Canada’s sale of 2,308 New Brunswick manufactured housing homesites for $69 million, MHProNews has learned the buyer is Canadian Apartment Properties Real Estate Investment Trust (CAPREIT) (TSX:CAR.UN). The eleven communities, all in Atlantic Canada and primarily in scenic rural areas, include Pine Tree Village, a high-end community of 828 modern sites adjacent to a golf course, according to wsj.com. With this acquisition, the company’s portfolio includes 29 manufactured home communities comprised of 6,178 land lease sites located in and near major urban centers across Canada and in Dublin, Ireland. CAPREIT also owns a portfolio of 35,372 other residential units.

(Photo credit: Antigonish, Nova Scotia–North Grant Park community)

Killam Releases Q1 Results

May 13th, 2013 Comments off

Killam Properties, Inc. reports for the three months ended March 31, 2013 property revenue increased 1.7 percent from $32.7 million to $33.2 million over the same period of 2012, while net rental income fell 3.6 percent, from $18.8 million in Q1 2012 to $18.1 million for 2013. Funds from operations (FFO) per share remained at $0.15 for both quarters, while FFO rose 4.7 percent from $7.4 million to $7.8 million. Overall, net operating income dropped 1.1 percent from $17,058,000 in Q1 2012 to $16,868,000 for the quarter ending March 31, 2013. As MHProNews knows, Killam Properties is one of the largest owner/operators of multifamily and manufactured homes in Canada with 50 MHCs and a portfolio of apartment buildings, primarily in Atlantic Canada.

(Photo credit: Killam Properties, Inc.)

Killam Buying West

April 16th, 2013 Comments off

As MHProNews reported Nov. 13, 2012, CEO Philip Fraser of Killam Properties, Inc., calling Ottawa (the Canadian capital) “one of the strongest cities for long-term investment in Ontario,” announced the company purchase of a 25%  share with a Kuwaiti company for a 146-unit apartment development. Also in Ottawa, Killam acquired a 244-unit apartment portfolio consisting of four buildings for $24 million. Based in Halifax, Nova Scotia, Canada, net operating income (NOI)  in Q3 2012 rose 0.7% over the same period in 2011. For the 4th quarter 2012, NOI increased 1.4% over Q4 2011. According to Yahoo!Finance Canada, as we reported earlier, Killam will release results for the quarter ending March 31 May 7, 2013, after the close of the market.  Killam operates over 50 manufactured home communities, mostly in Atlantic Canada, comprised of nearly 7,500 homesites.

(Photo credit: Killam Properties, Inc.)

 

Killam Continues its Westward Growth

September 6th, 2012 Comments off

Killam Properties, Inc., in its expansion efforts outside Atlantic Canada, announces it has acquired a four building, 244-unit apartment portfolio in Ottawa, Ontario, bringing its overall total to 11,638 apartment units. Based in Halifax, Nova Scotia, Canada, MHProNews has learned Killam owns and operates over 50 manufactured housing communities comprising 7,409 home sites in Canada, making it one of the largest MHC owners in the country.

(Photo credit: Killam Properties, Inc.)

Canadian Modular Builder Adding Jobs

May 19th, 2011 Comments off

The Times & Transcript reports from the province of New Brunswick, Canada, that the Kent Homes plant in Bouctouche, New Brunswick, is creating 70 jobs under a $500,000 payroll rebate from the provincial government.  This will bring the total workforce to 250 with a payroll of $9 million a year.  In business since 1958, Kent Homes makes a variety of modular homes and other buildings and sells them in Atlantic Canada and Maine.  Visitors can watch the homes being built as they roll along steel rails down an assembly line and finally out the door.  According to the  article, Kent Homes is the only company in Atlantic Canada building homes to a minimum 83 EnerGuide rating for energy efficiency.