text: **Killam’s Historic Apartment Occupancy by Quarter**
  
  100.0% 
  
  98.0% 
  
  96.0% 
  
  94.0% 
  
  92.0% 
  
  90.0% 
  
  Q 1‑09  Q 2‑10  Q 1‑07  Q 2‑07  Q 3‑07  Q 4‑07  Q 1‑11  Q 2‑11  Q 3‑11  Q 4‑11  Q 1‑08  Q 2‑08  Q 3‑08  Q 4‑08  Q 2‑09  Q 3‑09  Q 4‑09  Q 1‑10  Q 3‑10  Q 4‑10  Q 1‑12  Q 2‑12  Q 3‑12  Q 4‑12  Q 1‑13  Q 2‑13  Q 3‑13  Q 4‑13 
  
  Killam experienced softer occupancy levels in its apartment portfolio during the first half of 2013 followed by a strong uptick in occupancy in 
  Q3 and a typical seasonal decrease in Q4. Overall Killam’s occupancy levels were down in both 2012 and 2013 compared to highs maintained 
  throughout 2010 and 2011. The decreased occupancy was primarily attributable to higher than normal amounts of new multi‑family rental 
  construction in Halifax, Moncton and Charlottetown, and softness in the Saint John economy. Offsetting an increase in supply was continued 
  strong demand for rental product, population growth in urban centres and an aging population with an increased tendency to rent. Despite a 
  decline in occupancy, Killam achieved an average rental rate increase in its apartment portfolio of 1.3% in 2013. Occupancy remains strong for 
  the company’s mHc business, ending the year with 98.1% occupancy. mHc rents increased an average of 3.7% during the year. 