Notes to the Consolidated Financial Statements
Dollar amounts are in thousands of Canadian dollars (except share and per share amounts)
6. Investments in Joint Ventures
 The Company has the following significant interest in a joint venture, which is measured using the equity method.
 Through this joint venture, Killam owns:
 a) 25% share in a 127‑unit property located in London, Ontario;
 b) 25% share in a 140‑unit property located in Ottawa, Ontario; and,
 c) 25% share in a 199‑unit property located in Mississauga, Ontario.
 
For the years ended December 31, 2013 2012
Balance, beginning of year $10,289 $8,420
Additions 97 19,563
share of net income 1,296 758
Distributions (213) (18,452)
Balance, end of year $11,469 $10,289
As at 2013 2012
current assets $5,920 $3,293
Long‑term assets 115,425 112,245
Current liabilities (4,979) (3,891)
Long‑term liabilities (70,492) (70,492)
net assets 45,874 41,155
Company’s share of net assets of associate $11,469 $10,289
For the years ended December 31, 2013 2012
Property revenue $11,968 $6,708
Property operating expenses (6,696) (2,936)
Net operating income 5,272 3,772
Interest and deferred financing expense (2,744) (857)
Fair value gains 2,655 120
net income and comprehensive income 5,183 3,035
Company’s share of net income and comprehensive income $1,296 $758
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