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Killam Boosting Disposition Program Maximum to $150M
Killam Apartment REIT is increasing its 2026 capital-recycling target, raising planned non-core asset sales to between $100 million and $150 million.
The Halifax-based REIT said the higher disposition target, up from a previous $50-million goal, is part of efforts to accelerate portfolio optimization. Proceeds from asset sales are expected to be used to repurchase and cancel trust units through the REIT’s normal- course issuer bid (NCIB) program, as well as for opportunistic acquisitions.
To support the NCIB, Killam will suspend its distribution reinvestment plan (DRIP) effective April 24, until further notice. Unitholders currently enrolled in the DRIP will begin receiving cash distributions starting with any distribution declared in April.
“The higher disposition target reflects favourable transaction pricing and a clear, disciplined capital-allocation strategy,” said Philip Fraser, Killam’s CEO. “While Killam’s trust units trade at a discount to its per-unit net asset value, the NCIB remains a compelling opportunity, complemented by selective acquisitions that enhance portfolio quality and long-term value.”
Killam also announced a March monthly distribution of $0.06 per unit, payable April 15.
Pictured: Killam’s Governor apartment complex in Halifax.
Rendering: Killam Apartment REIT
