Killam Apartment REIT T.KMP.UN

Alternate Symbol(s): KMMPF

Killam Apartment Real Estate Investment Trust (Trust) is a Canada-based residential real estate investment trust. The Trust owns, operates, and develops a $5.3 billion portfolio of apartments and manufactured home communities (MCHs). Its segments include Apartment, MHC, and Commercial. Its Apartment segment acquires, operates, manages and develops multifamily residential properties across Canada. Its MHC segment acquires and operates MHC communities in Ontario and Eastern Canada. Its Commercial segment acquires and operates stand-alone commercial properties in Ontario, Nova Scotia and Prince Edward Island. Its apartment portfolio consists of over 18,801 units, including 1,343 units jointly owned with institutional partners. It owns over 5,975 sites in 40 MHCs, also known as land-lease communities or trailer parks, in Ontario and Atlantic Canada. It owns the land and infrastructure supporting these communities and leases sites to tenants who own their own homes and pay Killam site rent.

TSX:KMP.UN - Post by User

Killam Apartment REIT

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Comment by baudelaireon Jan 31, 2007 9:06am

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Post# 12129517

RE: Book Value vs. True Market Value

"The big question is: are the assets worth a lot more than what is stated on the balance sheet? If so, Killam may be trading at an interesting discount to the true market value. Any opinion out there?" IIRC, Killam acquired most of its assets in the last five years. Assuming they've collectively appreciated 15% since, the "additional" value per share is $0.935. ($550 million x 0.15 over 88.2) The assets may be worth $2.165 share? The higher leverage helps here.

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