Killam Properties Inc. Supplemental Information For the 3 months ended March 31, 2008
Apartment Portfolio, as at March 31, 2008 Nova Scotia City Property Name Units Year Built Mar-08 Mar-07 Halifax 1 Oak St. 146 1969 $752 n/a Halifax 10-214 Harlington 60 1978 698 676 Halifax 159 Radcliffe Drive 25 1995 855 827 Halifax 175-211 Harlington 60 1978 695 672 Halifax 21 Parkland Dr. 98 2002 947 n/a Halifax 26 Alton Drive & 36 Kelly Street 80 1969 603 583 Halifax 294-300 Main Street 58 1969 665 631 Halifax 3 Dillman 60 1970s 628 595 Halifax 3 Veronica Drive 70 1983 762 749 Halifax 31 Carrington 38 1998 1,057 1,044 Halifax 3565 Connaught 19 1958 712 691 Halifax 50 Barkton Lane 63 1991 726 699 Halifax 5206 Tobin Street 47 1993 910 875 Halifax 57 Westgrove Place 41 1969 686 664 Halifax 59 Glenforest/21 Plateau 153 1978 658 646 Halifax 6 Jamieson 24 1965 637 630 Halifax 6087 South St 9 1999 1,275 n/a Halifax 6101 South St 30 2002 1,350 n/a Halifax 67-141 Harlington Crescent 60 1978 718 665 Halifax 75 Knightsridge Drive 41 1986 784 766 Halifax 85-127 Harlington 60 1978 697 680 Halifax 9 Bruce Street 60 1974 510 506 Halifax 9 Sybyl Court 22 1975 637 616 Halifax 95 Knightsridge 46 1984 844 804 Halifax Bedford Apartments 53 1987 664 653 Halifax Garden Park 42 1980 806 723 Halifax Glenforest Apartments 80 1969 804 795 Halifax Glenmoir Terrace 28 1972 622 601 Halifax Hillcrest Apartments 50 1980 703 671 Halifax Kent Street Properties 139 1950's 772 763 Halifax Lakefront Apartments 396 1954 652 631 Halifax Linden Lea & Pleasant Street 28 1950s 619 605 Halifax Maplehurst Apartments 268 1965 693 678 Halifax Maplehurst Houses 15 1965 723 678 Halifax Parker Street Apartments 239 1960-75 656 643 Halifax Parkridge Place 76 2002 868 862 Halifax Quinpool Court 198 1978 932 911 Halifax Quinpool Towers 233 1978 943 895 Halifax Shaunslieve 154 1978 743 721 Halifax Sheradon Place 82 1979 762 754 Halifax Spring Garden Terrace 201 1964 994 938 Halifax Victoria Gardens 198 1954 659 638 Halifax Waterview Place 82 1971 685 655 Sydney 552 Kings Road 17 1974 581 535 Sydney Cabot House 88 1974 780 751 Sydney Moxham Court 51 1998 831 828 Nova Scotia Total 4,088 $756 $724
Apartment Portfolio, as at March 31, 2008 (cont.) New Brunswick City Property Name Units Mar-08 Mar-07 Fredericton 127 & 157 Biggs Street 46 1985/92 $719 $718 Fredericton 260 Wetmore Road 38 1978 652 648 Fredericton 50,60 Greenfield & 190 Parkside 72 1977/86 622 619 Fredericton 75 Greensfield Drive 44 1980 573 557 Fredericton 969 Regent 62 1997/01 798 785 Fredericton Carrington House 41 2002 855 n/a Fredericton Elroy Apartments 194 1973 742 741 Fredericton Southgate 47 2003 874 872 Fredericton Venus Apartments 54 1965 800 788 Fredericton Westwood Apartment 45 1975 585 583 Fredericton Wilsey 48 1975 664 625 Fredericton Forest Hill Towers 151 1968-1979 779 n/a Fredericton Princess Place 141 1968-1979 693 n/a Miramichi Edward Court 96 1993 597 586 Moncton 100 Archibald 60 2003 716 715 Moncton 101 Archibald 60 1993 689 672 Moncton 108-118 Archibald 2 n/a 638 638 Moncton 1111 Main 16 1957 1,476 1,428 Moncton 276-350 Gauvin Road 84 1991-96 638 620 Moncton 303 Normandie Street 70 1994 723 731 Moncton 316 Acadie Avenue 48 1996 650 645 Moncton 360 Acadie Avenue 60 1998 648 643 Moncton 364-368 Gauvin Road 80 1995 672 660 Moncton Buckingham Place 55 1998 736 718 Moncton Cambridge Court 45 1994 787 779 Moncton Cambridge Place 63 1995 954 937 Moncton Cameron Street 81 1966/1967 592 577 Moncton Gordon/Bonaccord Street 41 1984/pre 1950 613 599 Moncton Lakeview Estates 48 1980/81 598 581 Moncton Lorentz 101 1969 667 660 Moncton Lutz & Kendra Street 40 1950/75 650 606 Moncton Pine Glen Apartments 54 1974 652 620 Moncton Suffolk Street 80 2000 657 642 Saint John 53 Somerset Place 16 1973 605 588 Saint John Carleton Towers 60 1968 612 589 Saint John Cedar Glen 204 1977 611 587 Saint John Ellerdale Apartments 154 1975 578 562 Saint John Fort Howe Apartments 153 1970 710 688 Saint John Parkwood 205 1947 576 566 Saint John Rocky Hill Apartments 42 2004 823 807 Saint John Sydney Arms 54 1961 648 637 Saint John The Anchorage 51 2003 850 837 Saint John Woodhaven 24 1977 526 494 Saint John Woodward Gardens 99 1962 707 683 New Brunswick Total 3,229 $684 $663
Apartment Portfolio, as at March 31, 2008 (cont) Newfoundland City Property Name Units Year Built Mar-08 Mar-07 Grand Falls Ridgeview Terrace Apartments 59 1975 $492 $498 Grand Falls Terrace Apartments 89 1970/90 686 677 St. John's Blackshire Court 69 1981 698 760 St. John's Cornwall Manor 31 1976 587 525 St. John's Forest Manor 65 1978 613 563 St. John's Freshwater Road Apartments 159 1972 602 516 St. John's Pleasantview Manor 36 1979 568 499 St. John's Torbay Road Apartments 84 1972 608 523 St. John's Village Manor 40 1978 594 566 St. John's Mount Pleasant Manor 100 1976 573 561 Newfoundland Total 732 $607 $566 Prince Edward Island City Property Name Units Year Built Mar-08 Mar-07 Charlottetown 198 Spring Park Road 32 2006 $1,031 $1,031 Charlottetown 27 Longworth Avenue 24 1983 597 586 Charlottetown 505-525 University Ave 35 2003 955 1,045 Charlottetown Bridlewood Apts 66 1998/99 773 n/a Charlottetown Browns Court 52 1997 849 943 Charlottetown Burns/University 95 2003 848 891 Charlottetown Country Place 39 1998-02 780 770 Charlottetown DesBarres House 51 1978 536 527 Charlottetown Kensington Court 105 1990 678 664 Charlottetown Queen Street 48 1978 572 556 Stratford Horton Park 69 1987 695 662 Stratford Shakespeare 22 2004 766 754 Summerside Nevada Court 48 1995 668 663 Prince Edward Island Total 686 $743 $749 Apartment Portfolio as at March 31, 2008 8,735 $716 $690
MHC Portfolio as at March 31, 2008 City/Town Property Name Units Acres Mar-08 Mar-07 Ontario Beamsville Golden Horsehoe 241 33 $295 $284 Carleton Place Lakewood Estates 60 13 244 232 Carrying Place Cedardale (1) 204 25 150 150 Erin Stanley Park 108 76 260 253 Listowel The Village at Listowel 77 53 259 253 Niagra Falls Pine Tree Village (MHC) 70 38 329 319 Orillia Fegushill Estates 152 49 304 296 Orillia Parkside Estates 144 80 288 281 Orillia Silver Creek Estates 234 80 290 279 Ottawa Lynnwood Gardens 64 54 267 239 Petawawa Pinehurst Estates 82 16 208 201 Quinte West Bayview Estates 146 60 222 217 St. Catherines Westhill Estates 95 8 257 247 Trenton Sunny Creek Estates 160 53 176 171 Vars Rockdale Ridge 69 96 227 217 Forest Paradise Valley (1) 392 109 134 n/a Walton Family Paradise (1) 214 50 121 n/a Guelph Millcreek C.C. 72 35 324 n/a Sarnia Green Haven Estates 231 45 288 n/a Wheatly Holiday Harbour (1) 143 15 143 143 2,958 988 $225 $236 Nova Scotia Amherst Amherst 307 67 $150 $135 Amherst Kent Drive 50 10 139 n/a Antigonish Glen Aire Estates 266 130 176 168 Antigonish Greenhill Estates 107 30 194 189 Antigonish Silver Birch Estates 44 16 185 n/a Halifax Birch Hill 217 73 196 167 Halifax Birchlee Estates 176 42 201 n/a Halifax Fairview Estates 131 131 278 269 Halifax Maple Ridge Park 160 160 210 204 Lake Echo Mountainview Estates 353 168 190 n/a Enfield Enfield Estates 56 10 200 n/a New Glasgow Cowan Place 38 50 158 140 New Minas Valley View Hills 195 50 162 149 Port Hawkesbury Cairdeil Estates 159 37 150 150 Sydney Heather Estates MHC 217 72 170 161 2,476 1,045 $183 $164 New Brunswick Bathurst Kent & Bayview 148 123 $140 $120 Edmundston Park P'Tiso 86 18 151 135 Fredericton Burton 91 32 206 200 Fredericton Crown & Currie Park 176 140 214 194
Fredericton Tamarak 419 75 217 212 Moncton Camper's City (1) 224 61 144 n/a Moncton Pine Tree - Moncton 824 260 220 220 Moncton White Frost Estates 211 51 193 183 Quispansis Pine Valley MHC 100 15 186 185 Riverview Riverview MHC 109 72 201 200 2,388 847 $199 $199 Alberta Slave Lake Lynwood Estates 110 18 $316 $294 Whitecourt Evergreen Village 72 11 313 n/a Whitecourt Hillpark 136 18 300 n/a 318 47 $308 $294 Saskatchewan Saskatoon Sunset Estates 247 77 $290 $268 Newfoundland Gander Lakeview Court 86 13 $150 $142 Cornerbrook Sunset Parkway 84 43 149 130 170 56 $149 $136 British Columbia The Poplars Gibson 130 36 $347 n/a Total MHC Portfolio 8,687 3,097 $213 $203 (1) Property is seasonal. Average monthly rent shown equal to annual rent divided by 12.
Geographic Breakdown of Assets Apartment Units by City Charlottetown 7% St. John's 7% Fredericton 11% Other 5% Halifax 46% Saint John 12% Moncton 12% MHC Units by Province Saskatchewan 3% Alberta 4% British Columbia 1% Nova Scotia 29% Ontario 34% Newfoundland 2% New Brunswick 27%
Same Store Sales Details The following tables show the vacancy and average rents by location for the 135 properties Killam has owned for equivalent periods in 2008 and 2007 considered Same Store properties. The analysis includes 38 MHC properties (6,429 units) and 97 apartment properties (7,532 units). Mar 31 2008 Vacancy Mar 31 2007 Change As at Apartments Nova Scotia 5.7% 4.2% 1.5 New Brunswick 5.8% 5.3% 0.5 Newfoundland 2.6% 1.8% 0.8 Prince Edward Island 4.1% 7.3% 3.2 Total Apartment Portfolio 5.3% 4.6% 0.7 Manufactured Home Communities 1.0% 1.0% 0.0 Total Portfolio 3.4% 2.9% 0.5 Mar 31 2008 Mar 31 2007 Change As at Apartments Nova Scotia $743 $722 2.9% New Brunswick $678 $665 2.0% Newfoundland $598 $551 8.5% Prince Edward Island $727 $732 0.7% Total Apartment Portfolio $707 $688 2.8% Manufactured Home Communities $213 $204 4.4% Total Portfolio $478 $464 3.0%
Apartment Growth Potential in Killam s Markets 31-Mar-08 31-Mar-07 Total Rental Apartment Universe Killam Portfolio Market Share Killam Portfolio Market Share Nova Scotia Halifax 38,204 3,932 10.3% 3,649 9.6% New Brunswick Saint John 8,936 1,062 11.9% 1,062 11.9% Moncton 9,660 1,088 11.3% 1088 11.3% Fredericton 7,044 983 14.0% 650 9.2% Charlottetown 3,795 638 16.8% 620 13.9% St. John's 3,817 584 15.3% 715 13.4% Source: CMHC 71,456 8,287 11.6% 7,784 10.3%