text: Looking beyond 2014, we expect to generate NOI growth 
  more in the 2% to 4% range as large economic projects in 
  Atlantic Canada are predicted to lead economic 
  and population growth in the region. As the 
  dominant residential landlord in Atlantic Canada 
  with a wide variety of buildings and price points, 
  we expect to benefit from this growth through 
  increased demand for apartments. 
  
  **Growth through Acquisitions**
  
  Growth through acquisitions will continue 
  to be a focus for Killam. We completed $121 
  million of acquisitions last year, at the top of our 
  acquisition target range of $75 million to $125 
  million. This was our largest year for acquisitions 
  since 2005. Apartment acquisitions in Ontario in 
  2013 included a 102-unit building in Ottawa and 
  a newly constructed mixed-use apartment and 
  retail complex in downtown Toronto, for a total 
  of $50 million. We are also pleased with the $64 
  million in properties we added to our portfolio in 
  Atlantic Canada this past year, complementing 
  our existing assets in Halifax, Charlottetown and 
  Moncton. 
  
  We have targeted a minimum of $75 million 
  in acquisitions for 2014. We are committed to 
  adding strategically to our asset base in our 
  core markets, targeting both new buildings and 
  centrally located older buildings with upside 
  opportunities. 