Killam adds to Ottawa apartment portfolio

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A Halifax-based residential landlord has bought an apartment east of Ottawa’s downtown, the latest in a string of similar purchases across the city.

Killam Properties closed the deal to buy the 102-unit building at 1090 Kristin Way earlier this year for $10.3 million, according to real estate company CLV Realty Corporation, Brokerage.

Evendrew Developments Ltd. sold the building, located north of Montreal Road and west of the Aviation Parkway, for just below the asking price of $10.9 million.

Killam’s portfolio includes several other buildings across the city. CEO Philip Fraser has previously called Ottawa “one of the strongest cities for long-term investment in Ontario.”

Killam also recently purchased a building near the Centrum shopping area in Kanata, said Dave McGahan, a CLV Realty broker who acted on behalf of both the vendor and the purchaser