text: **2013 Dispositions ‑ Investment Properties**
  
  On November 30, 2013, Killam sold a portfolio of ten MHCs in New Brunswick. Killam had invested $44.2 million to acquire and enhance 
  this portfolio over the last ten years. The sale price of $69.0 million resulted in net cash proceeds of $42.6 million. The sale allowed Killam to 
  crystallize the increased value of its New Brunswick MHC portfolio at current attractive cap‑rates and use the funds to continue to geographically 
  diversify and accretively grow the apartment portfolio. In addition, the transaction will further enhance FFO accretion as apartments acquired 
  are expected to qualify for CMHC insured debt, resulting in mortgage rates 120 ‑ 180 bps lower than conventional mortgages on MHC properties. 
  The properties that were sold of are as follows: 