text: As at December 31, 2013, approximately 72% of the Company’s apartment mortgages were CMHC insured (67% of all mortgages as MHC 
  properties are not eligible for CMHC insurance) (December 31, 2012 – 61% and 53%). The weighted average interest rate on the CMHC insured 
  mortgages was 3.67% as at December 31, 2013 (December 31, 2012– 3.98%). 
  
  Access to mortgage debt is essential in financing future acquisitions and in refinancing maturing debt. Management has intentionally diversified 
  Killam’s mortgages to avoid dependence on any one lending institution and has staggered the maturity dates of its mortgages to manage interest 
  rate risk. Management anticipates continued access to mortgage debt for both new acquisitions and refinancings. Access to CMHC insured 
  financing gives apartment owners an advantage over other asset classes as lenders are provided a government guarantee on the debt and 
  therefore are able to lend at more favourable rates. 
  
  The following table presents the NOI of properties that are available to Killam to refinance at debt maturity for 2014 and for 2015. With 
  $139.3 million in mortgages maturing in 2014, Management is evaluating opportunities to fix interest rates before maturity to lock in savings 
  on refinancings. Killam’s 2014 mortgage maturities are skewed toward the first half of the year and the Company has already completed 
  refinancings or locked in interest rates for maturing mortgages representing $34.2 million of the maturing debt at a weighted average interest 
  rate of 2.64%. 