Killam Apartment REIT has acquired Forrest Green Apartments, a 13-storey, 109-unit apartment building located in the Clayton Park neighbourhood of Halifax, Nova Scotia. The acquisition closed on January 27, 2026, for a gross purchase price of $29.6 million. The going-in capitalization rate on the purchase is 5.0 per cent and Killam anticipates placing a new CMHC-insured mortgage on the property.

“This acquisition represents a strong addition to our Halifax portfolio and aligns directly with our long-term strategy for growth in our core markets. The large suites and affordable in-place rents position us well to meet the strong demand for this product,” said Philip Fraser, President and CEO. “This is a well-located property that has been well-maintained and which offers additional opportunities to reduce operating costs through energy-efficiency upgrades. With these enhancements, we see potential to strengthen the asset’s performance within our portfolio.”

Forrest Green was constructed in 1973 and comprises exclusively large suites: two-thirds are 3-bedroom, 1,400 square foot suites, and the remaining one-third are 2-bedroom, 1,150 square foot suites. The average in-place monthly rent is $1,860, with a meaningful mark-to-market opportunity as units turn, providing a stable runway for organic growth.

Killam Apartment REIT currently owns and operates a $5.6 billion portfolio of apartments and manufactured home communities. More info on the company’s acquisition strategy is available at: https://news.killamreit.com