HALIFAX, NOVA SCOTIA -- (Marketwired) -- 11/21/16

Killam Apartment REIT (TSX:KMP.UN) is pleased to announce its November 2016 monthly distribution. The distribution of $0.05 per unit will be paid on December 15, 2016, to unitholders of record on November 30, 2016.

Killam Apartment REIT offers a distribution reinvestment plan (the "DRIP"). The DRIP provides eligible unitholders with the opportunity to reinvest their cash distributions, on each distribution payment date, in additional units. Participating unitholders will also receive an additional distribution of units representing 3% of the amount of the distribution reinvested pursuant to the Plan.

About Killam Apartment REIT

Killam Apartment REIT, based in Halifax, Nova Scotia, is one of Canada's largest residential landlords, owning, operating and developing multi-family apartments and manufactured home communities. Killam's current portfolio includes $1.9 billion in real estate assets. Killam's strategy to maximize its value and long-term profitability includes concentrating on three key areas of growth: 1) increasing the earnings from its existing portfolio, 2) expanding its portfolio and diversifying geographically through accretive acquisitions, with an emphasis on newer properties, and 3) developing high-quality properties in its core markets.

Note: The Toronto Stock Exchange has neither approved nor disapproved of the information contained herein.

Contacts:
Killam Apartment REIT
Dale Noseworthy, CPA, CA, CFA
Vice President, Investor Relations and Corporate Planning
(902) 442-0388
dnoseworthy@killamreit.com