HALIFAX – The head of Killam Properties Inc. says his company is close to finalizing its joint venture with a major Islamic bank, shooting down suggestions the partnership isn’t moving along quickly.
Thursday also saw Killam’s chief financial officer say the company will likely sell some of its older apartment buildings as it buys up newer units.
During a conference call, Killam’s president and chief executive officer, Phil Fraser, said the company is still finalizing its partnership with Kuwait Finance House.
Killam announced plans to partner with the major Islamic bank earlier this year. The partnership could see the pair gobble up nearly a half billion dollars worth of Canadian apartment buildings. Continue reading