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REIT purchase of Crossing at Belmont a big community win!

Feature Neighbourhood Update

REIT purchase of Crossing at Belmont a big community win!

Ledcor Property Investments Ltd. is very pleased to announce that the Crossing at Belmont rental building has been purchased by Killam Apartment REIT. Killam is one of Canada’s largest and most reputable residential landlords, making this transaction—the acquisition of 156 rental units—a big win for the Langford area community.

Killam Apartment REIT (TSX: KMP) is a publicly traded real estate company focused on the acquisition, development and management of multi-family residential properties across Canada and well known for their commitment to community.

Philip Fraser, President and CEO of Killam Apartment REIT said that “#MyBelmont is a part of the masterplan community that has become a vibrant centre for the City of Langford [with] the sort of values and commitment to community that we truly appreciate.”

“Since its inception in 2000, Killam has created a culture that cares,” says Jeremy Jackson, Vice President Marketing & Program Development. “From its long-standing Supported Housing initiatives, to its Furnished Suite donations to local hospitals, to its Tenant Assistance program, and to its many community partnerships, Killam actively engages in the communities it serves.”

Crossing at Belmont aquired by REIT

“This transaction aligns perfectly with the #MyBelmont vision and values,” said Bill Fox, President of Ledcor Property Investments Ltd. Killam Apartment REIT is well known and respected for their commitment to community, with core values that not only align with our tenants, but are ones that our neighbourhood will be proud of.”

As the development of #MyBelmont master-planned community continues, the team remains committed to the area. It will continue to build a thriving and strong neighbourhood where people can live, work and play.

“We sincerely thank the tenants of Crossing at Belmont, the public and community leaders in Langford for the trust that they have placed in us, and we are proud to deliver on our promises,” said Eric Gerlach, VP of Development of Ledcor Property Investments Ltd.

Devon Properties will assist with the transition and will continue to be the Property Manager for Crossing at Belmont in the near term.

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