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

Alternate Symbol(s):  MGRUF | T.MRT.UN

Morguard Real Estate Investment Trust is a Canada-based closed-end real estate investment trust. The Company provides real estate advisory services and portfolio management services, specializing in publicly traded equities and fixed-income securities, to institutional clients and private investors. The Company owns a diversified portfolio of 46 retail, office and industrial income-producing properties in Canada consisting of approximately 8.2 million square feet of leasable space. It owns and manages a diversified portfolio of office, industrial, retail, multi-suite residential and hotel properties in North America. It is a significant sponsor of two real estate investment trusts (REITs): Morguard REIT, a closed-end Trust with a diversified portfolio of Canadian commercial real estate assets; and Morguard North American Residential REIT, an open-end Trust with a diversified portfolio of multi-suite residential assets across North America.


TSX:MRT.DB.A - Post by User

Comment by HermannHalleron Feb 18, 2021 7:39pm
191 Views
Post# 32605593

RE:RE:RE:RE:Earnings Call Transcript Feb 18 2021

RE:RE:RE:RE:Earnings Call Transcript Feb 18 2021I think Sahi played up the risks a bit to justify the big distribution cut. In the Q4 report, they breakdown the mortgage maturities by year, and the amount of leverage on those properties. Those maturing in 2021 have only 38.9% debt relative to fair value, which is pretty low and suggests no problem rolling the mortgages. Later years is much higher, but I presume it will be a whole new situation post covid.

They also spoke positively about the mall in Prince George, which has not been under lockdown. Traffic in this mall is running at 90%. This to me is what all the malls could look like by the fall, which would improve the outlook significantly.
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