text: **Objective** **2013 Target** **2013 Performance**
  
  **Consolidation of**
  **the Multi-family**
  **Residential Real Estate**
  **Market**
  
  To complete $75 million 
  to $125 million in 
  acquisitions. 
  
  Target achieved. $121 million in acquisitions 
  completed in 2013, including $113 million in 
  apartment acquisitions, $7 million for three 
  parcels of land for future development and $1 
  million for an MHC acquisition. 
  
  **Increase Investment in**
  **New Properties**
  
  Acquire new properties 
  as part of the acquisition 
  program in 2013. 
  
  Target achieved. During 2013, 74% of the total 
  units added to the portfolio were constructed 
  after 2001. These acquisitions included three 
  buildings constructed in 2013, a 179-unit 
  building on Queen Street West in Toronto, an 
  83-unit luxury building in Halifax, and a 48-unit 
  building in Moncton. 
  
  Complete and lease- 
  up Killam's four 
  developments and 
  commence two new 
  development projects. 
  
  Target partially achieved. The Company 
  completed the construction of four 
  development projects totaling 282 units during 
  the first half of 2013. Two of the properties, 
  Bennett House and Brighton House, were 
  fully leased within three months of opening, 
  while S2 and The Plaza are expected to be 
  substantially leased by the middle of 2014. 
  Killam began two new developments during 
  the second half of the year, a 101-unit building 
  in St. John’s, Newfoundland, and a 122-unit 
  building in Cambridge, Ontario. 