text: Halifax’s NOI was generally flat in 2013 as higher rental revenue was offset by increased utility expenses. The highest same store NOI growth for 
  the year was achieved at properties located in the St. John’s and Ontario markets, posting gains of 4.5% in each region. These markets were not 
  impacted by higher natural gas costs and have experienced strong revenue growth year‑over‑year. 
  
  Saint John was Killam’s softest market with higher vacancy rates driving the 14.1% decline in NOI in 2013 compared to 2012. The decline in 
  overall 2013 occupancy in Charlottetown compared to 2012 resulted in decreased NOI of 6.5%. 
  
  Fredericton and Moncton both recorded negative NOI growth, 1.1% and 2.6%, respectively, for the year due to higher vacancy in 2013 compared 
  to 2012, partially offset by positive rental rate growth in each region. 
  
  Other Atlantic locations include seven properties in other cities in Atlantic Canada. These properties realized NOI growth in 2013 due to rental 
  rate increases, lower vacancy and minimal operating expense growth as they are not heated with natural gas. 