Canada NewsWire
HALIFAX, April 9, 2020
HALIFAX, April 9, 2020 /CNW/ - Killam Apartment REIT (TSX: KMP.UN) recognizes the impact COVID-19 is having on all stakeholders. Our priority is the health and safety of our employees, residents, partners and communities. Killam is executing on its Pandemic Illness Plan and operations plan to lessen the spread of COVID-19 and maintain the continued good health of our employees, residents and communities.
Killam's portfolio remains operational during this pandemic. Below is a business update, including the impact of COVID-19 on Killam's operation.
Operating Update
Liquidity Update
Investment Activity Update
2020 Strategic Targets
Due to the inherent uncertainty surrounding disruption from the COVID-19 pandemic, Killam is reviewing its 2020 strategic targets, specifically its same property NOI growth target for 2020, which were included in its year-end 2019 Management Discussion and Analysis (MD&A) under the heading Strategic Targets. Management will provide an update on these strategic targets in the Q1-2020 MD&A.
Further COVID-19 Information
We are committed to providing updates to our unitholders and other stakeholders during the course of the COVID-19 Pandemic. We have addressed many stakeholders' questions through a question and answer (Q&A) document on our website and we will continue to update the Q&A on our website during this time of uncertainty.
Killam expects to update stakeholders as to the impact of the COVID-19 pandemic on its operating performance with its Q1-2020 results, scheduled to be released on May 6, 2020.
2019 ESG Report
Killam has published its 2019 Environmental, Social and Governance (ESG) report, which is available on its website. The report describes Killam's commitment to creating and maintaining sustainable communities and highlights its targets and work on these ESG issues. ESG is a vital component to Killam's long-term success.
About Killam Apartment REIT
Killam Apartment REIT, based in Halifax, Nova Scotia, is one of Canada's largest residential landlords, owning, operating and developing a portfolio of apartments and manufactured home communities. Killam's strategy to enhance value and profitability focuses on three priorities: 1) increasing earnings from existing operations, 2) expanding the portfolio and diversifying geographically through accretive acquisitions, with an emphasis on newer properties, and 3) developing high-quality properties in its core markets.
Note: The Toronto Stock Exchange has neither approved nor disapproved of the information contained herein. Certain statements in this report may constitute forward-looking statements. Such forward-looking statements involve risks, uncertainties and other factors including risks and uncertainties relating to the COVID-19 pandemic, which may cause actual results, performance or achievements of Killam to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. For more exhaustive information on these risks and uncertainties, you should refer to Killam's most recently filed annual information form which is available at www.sedar.com. Readers, therefore, should not place undue reliance on any such forward-looking statements. Further, a forward-looking statement speaks only as of the date on which such statement is made and should not be relied upon as of any other date. Other than as required by law, Killam does not undertake to update any of such forward-looking statements.
SOURCE Killam Apartment Real Estate Investment Trust
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