Notes to the Consolidated Financial Statements
Dollar amounts are in thousands of Canadian dollars (except share and per share amounts)
1. Corporate Information
Killam Properties Inc (“Killam” or the “Company”) is a real estate company specializing in the acquisition, management and development of 
multi‑residential apartment buildings and manufactured home communities in Canada. Killam is incorporated under the Canada Business 
Corporations Act. Killam’s common shares are publicly traded and listed on the Toronto Stock Exchange under the symbol “KMP”. The 
consolidated financial statements comprise the financial statements of Killam and its subsidiaries as at December 31, 2013. the company’s 
head office operations are located at 3700 Kempt Road, Halifax, Nova Scotia, B3K 4X8 and the Company’s registered office is located at 
2571 Windsor Street, Halifax, Nova Scotia, B3K 5C4. 
The consolidated financial statements of the Company for the year ended December 31, 2013, were authorized for issue in accordance 
with a resolution of the Board of Directors on Tuesday, February 18, 2014.
2. Significant Accounting Policies
(A) Statement of Compliance
These consolidated financial statements have been prepared in accordance with International Financial Reporting Standards (“IFRS”) as 
issued by the International Accounting Standards Board (“IASB”).
(B) Basis of Presentation
The consolidated financial statements of the Company have been prepared on a historical cost basis, except for investment properties that 
have been measured at fair value. Historical cost is generally based on the fair value of the consideration given in exchange for assets. The 
consolidated financial statements have been prepared on a going concern basis and are presented in Canadian dollars, which is Killam’s 
functional currency, and all values are rounded to the nearest thousand ($000), except when otherwise noted. Standards and guidelines 
not effective for the current accounting period are described in Note 4. 
(C) Basis of Consolidation
(i) Subsidiaries
The consolidated financial statements include the accounts of Killam and its subsidiaries. Non‑controlling interests represent the portion of 
profit or loss and net assets not held by Killam, and are presented separately in the Consolidated Statements of Income and Comprehensive 
Income and within equity in the Consolidated Statement of Financial Position, separately from shareholders’ equity.
Subsidiaries are entities controlled by Killam. The financial statements of subsidiaries are included in the consolidated financial statements 
from the date that control commences until the date that control ceases. The accounting policies of subsidiaries have been changed when 
necessary to align them with the policies adopted by Killam. In certain circumstances, Killam has  control over entities in which it does not 
own more than 50% of the voting power. 
The Company’s significant investment in subsidiaries and a joint venture, all of which are incorporated in Canada, are listed in the following 
table:
Subsidiary % Interest
Killam Properties Inc. 100%
Killam investments inc. 100%
Killam investments (Pei) inc. 100%
Killam Properties Apartments Trust 100%
Killam Properties M.H.C. Trust 100%
661047 n .B. inc. 100%
Blackshire court limited 100%
Blackshire court limited Partnership 95.92%
Killam KFH (180 mill st.) inc. 100%
Killam KFH (Kanata lakes) inc. 100%
Killam KFH (1355 silver spear r oad) inc. 100%
Killam KFH sigma GP inc. 50%
Killam KFH‑Sigma Properties LP 25%
70 Killam ProPerties inc | 2013