Just over two months after entering an agreement with two other companies to buy into the Kanata Lakes Apartments, Halifax-based Killam Properties announced Tuesday the group is acquiring more of the west-end property.
Killam issued 3.8 million shares, raising more than $40 million and using the proceeds to purchase the Kanata property as well as holdings in Mississauga, London and Calgary.
Killam will team with an affiliate of KingSett Capital Inc. of Toronto and Alberta’s AIMCo Realty Investors LP to purchase Kuwait Finance House’s remaining 75 per cent interest of the Kanata Lakes Apartments.
(Sponsored)
From research to partnerships: uOttawa is industry-ready in defence, security and aerospace
Defence and security may dominate headlines in the national capital today, but for the University of Ottawa, the work has been underway for years. “This is nothing new for us,”
Ottawa businesses critically important to ending youth homelessness across the city
Local businesses joining United Way East Ontario’s effort to prevent and end youth homelessness not only helps build a stronger, safer, and healthier community, but gives a boost to Ottawa’s
Killam, which had owned 25 per cent of the Kanata property, will now own 50 per cent, with the other half split between the two other partners.
These purchases mark the end of Killam’s partnership with Kuwait Finance House. The deal is expected to be approved by mid-December.
