text: Killam experienced a rebound in occupancy levels in Charlottetown during 2013 after a sharp decline in the later part of 2012 due to new supply 
  and a slowdown in the number of immigrants coming to the province as part of Pei’s Provincial nominee Program. this has proven to be a 
  shorter‑term challenge as Killam improved occupancy in Charlottetown by 400 bps at December 31, 2013, compared to December 31, 2012, 
  ending the year at 95.6% occupancy. 
  
  Ontario now represents approximately 12% of Killam’s apartment NOI and equity earnings on a go‑forward basis. Management was pleased 
  to report strong improvement in occupancy levels in its Ontario portfolio in 2013. The most notable improvement was in Ottawa. Killam’s 
  repositioning of a portfolio of four buildings acquired in September 2012 is complete and the Company is now realizing positive return on 
  the investment with the portfolio’s occupancy at 97.5% at year‑end, up 1,100 bps from 86.5% a year earlier. Killam’s apartment occupancy in 
  Ontario was 98.6% at December 31, 2013, compared to 93.1% at December 31, 2012. Average rent for the Ontario portfolio decreased 5.8% 
  as at December 31, 2013, when compared to 2012 due to the addition of lower priced units in the past twelve months. Rents for same store 
  properties were flat in the year as the focus was on occupancy improvement. Overall, Ontario’s same store rental revenue was up 2.3%. 