text: Killam complements its acquisition program with the construction of apartment buildings. During 2013, Killam completed the development 
  of four projects totalling 282 units and commenced two additional projects in the second half of the year. Management does not expect 
  developments to exceed 5% of the total asset base in any given year. 
  
  In addition, the Company owns MHCs, also known as land‑lease communities or trailer parks. Killam owns the land and infrastructure supporting 
  each community and leases the lots to tenants, who own their own homes and pay Killam a monthly site rent. Killam owns 35 communities 
  which accounted for 14% of Killam’s NOI in 2013. During the year Killam sold ten MHC properties located in New Brunswick, allowing the 
  Company to crystallize the value of the properties at attractive cap‑rates and use the funds to continue to grow the apartment portfolio. 
  
  **Key Performance Indicators (KPIs)**
  
  Management measures Killam’s performance based on the following KPIs: 