Morguard Real Estate Investment 5 25 convertible unsecured subordinated debentures T.MRT.DB.A

RE:RE:for your interest

[Shirtlessnomore]

Having said that I still took the opportunity to sell off down to a core position. 5.09 was just too good to be true under these circumstances to me. Still holding some but way less. Cheers!

Shirtlessnomore wrote: It seems no one cares. Cheers

incomedreamer11 wrote:

Of interest, HBC a large Canadian department store, likely only getting worst...

 

2020-11-20 08:03 ET - In the News
Shares issued 63,065,765
MRT.UN Close 2020-11-19 C$ 4.83

From In the News (C:CUF) Cominar Real Estate Investment Trust

The Globe and Mail reports in its Friday, Nov. 20, edition that landlords are facing a tricky situation with their Hudson's Bay Co. leases, as the fallout of any eviction of the retailer over unpaid rent could have a ripple effect on the rest of the mall and exacerbate already tough retail conditions from the pandemic. The Globe's Rachelle Younglai writes that HBC has withheld rent at more than 20 locations across the country. Some of the biggest landlords -- Morguard REIT, SmartCentres REIT and Cominar REIT -- have taken HBC to court for months of unpaid rent. Some are seeking to evict HBC, while others have not explicitly asked the courts to kick the retailer out. Part of the dilemma for landlords is that HBC is usually one of the anchor tenants, which means it takes up a significant amount of space in their shopping centres and is expected to attract customers. Smaller retailers that line the corridors leading to the anchor tenant can have co-tenancy leases, which tie their lease obligations to the presence of an anchor tenant. If the anchor tenant disappears, those with co-tenancy leases could get out of their lease obligations. Customers are less likely to walk down a corridor to an empty space.