{"id":1004107412,"date":"2014-11-13T08:07:01","date_gmt":"2014-11-13T16:07:01","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004107412"},"modified":"2022-12-13T00:05:39","modified_gmt":"2022-12-13T08:05:39","slug":"killam-buys-152-unit-rental-property-in-ottawa","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/killam-buys-152-unit-rental-property-in-ottawa\/","title":{"rendered":"Killam Buys 152-Unit Rental Property in Ottawa"},"content":{"rendered":"<p><i><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2014\/11\/Williams-Court-Kanata-Lakes-Apartments-in-Ottawa-Sells-for-47-6-M.jpg\"><img loading=\"lazy\" decoding=\"async\" data-attachment-id=\"1004107414\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/killam-buys-152-unit-rental-property-in-ottawa\/williams-court-kanata-lakes-apartments-in-ottawa-sells-for-47-6-m\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2014\/11\/Williams-Court-Kanata-Lakes-Apartments-in-Ottawa-Sells-for-47-6-M.jpg\" data-orig-size=\"800,533\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;}\" data-image-title=\"Williams Court Kanata Lakes Apartments in Ottawa Sells for 47 6 M\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2014\/11\/Williams-Court-Kanata-Lakes-Apartments-in-Ottawa-Sells-for-47-6-M.jpg?w=800\" class=\"alignright size-medium wp-image-1004107414\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2014\/11\/Williams-Court-Kanata-Lakes-Apartments-in-Ottawa-Sells-for-47-6-M.jpg\" alt=\"Williams Court Kanata Lakes Apartments in Ottawa Sells for 47 6 M\" width=\"300\" height=\"199\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2014\/11\/Williams-Court-Kanata-Lakes-Apartments-in-Ottawa-Sells-for-47-6-M.jpg 800w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2014\/11\/Williams-Court-Kanata-Lakes-Apartments-in-Ottawa-Sells-for-47-6-M.jpg?resize=300,200 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2014\/11\/Williams-Court-Kanata-Lakes-Apartments-in-Ottawa-Sells-for-47-6-M.jpg?resize=768,512 768w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><\/i><\/p>\n<p>Killam Properties has acquired the 152-unit Kanata Lakes Apartments II, a newly-constructed luxury rental building in Kanata, Ontario, in the outskirts of Ottawa.<\/p>\n<p>As the listing agent, ROCK Advisors Inc. Brokerage represented the seller, Lepine Corp. \u00a0Based in Burlington, Ontario, ROCK is a leading commercial real estate firm focused exclusively on apartment brokerage services and on student housing. ROCK serves primary clients representing builders, owners and corporations of residential multi-family dwellings.<\/p>\n<p>President &amp; CEO Derek Lobo said the need for upscale rental real estate is on the rise, parallel with the population\u2019s growth. <i>&#8220;<\/i>Kanata is ideal for young professionals who work in the surrounding high-tech sector, as well as for couples who want to downsize,&#8221;<i> <\/i>he added.<\/p>\n<p>Halifax, Nova Scotia-based residential landlord Killam Properties picked up the asset for $47.6 million or $313,362 per unit deal. The company owns, operates and develops multi-family apartments and manufactured home communities. This property is currently owned through a joint venture between Killam and affiliates KingSett Capital and Alberta Investment Management Corp. AIMCo.<\/p>\n<p><i>&#8220;<\/i>Having Derek and the ROCK team onboard as the listing brokerage helped us to close the deal with Lepine and acquire a 50 percent interest in this Kanata Lakes building,&#8221;<i> <\/i>said Philip Fraser, president &amp; CEO of Killam.<\/p>\n<p>Located at 1025 Canadian Shield Ave., Kanata Lakes Apartments II is the second of five buildings and its 152 open-concept luxury suites average 950 square feet. The units have high ceilings with glazed finish, built-in European designed closets and panoramic windows with partial bay in most units, condo-style high-end kitchens, baths, hardwood floors throughout living and dining areas, plush carpet in bedrooms. Common space amenities include a fully-equipped clubhouse that boasts an indoor salt water pool, a state-of-the-art fitness center and leisure facilities such as spa-inspired lounge areas for tenants.<\/p>\n<p>Units at Kanata Lakes Apartments rent for an average of $1785 and more than 90 percent are now occupied.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Killam Properties has acquired the 152-unit Kanata Lakes Apartments II, a newly-constructed luxury rental building in Kanata, Ontario, in the outskirts of Ottawa. <\/p>\n","protected":false},"author":35,"featured_media":1004107414,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[16,21742],"tags":[],"class_list":["post-1004107412","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-international","category-latest"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - 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