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Morguard North American Residential Real Estate Inv 6 00 Convertible Unsecured Subordinated Debentures T.MRG.UN


Primary Symbol: T.MRG.DB.B Alternate Symbol(s):  MNARF

Morguard North American Residential Real Estate Investment Trust (the REIT) is an open-ended real estate investment trust. The REIT owns, through a limited partnership, interests in Canadian residential apartment communities, located in Alberta and Ontario, and U.S. residential apartment communities located in Colorado, Texas, Louisiana, Illinois, Georgia, Florida, North Carolina, Virginia, and Maryland. The objectives of the REIT are to generate stable and growing cash distributions to Unitholders on a tax-efficient basis; to enhance the value of its portfolio and the long-term value of its units through active asset and property management; and to expand the REIT's asset base, primarily through acquisitions and property improvements. The REIT's multi-suite residential property portfolio consists of about 16 Canadian properties and 27 United States properties, having a total of approximately 13,089 residential suites and 239,500 square feet of commercial area.


TSX:MRG.DB.B - Post by User

Morguard North American Residential Real Estate Inv 6 00 Convertible Unsecured Subordinated Debentures > Look out below!!
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Comment by Capharnaumon Apr 27, 2021 10:35pm
185 Views
Post# 33080171

RE:RE:RE:Look out below!!

RE:RE:RE:Look out below!!
Defiance2050 wrote: Good points. Not sure if it follows the student housing but occupancy rate decreased significantly both q/q and y/y.


Global occupancy (Canada and US) was stable in Q1 2021 vs Q4 2020. Obviously, Q1 2021 vs Q1 2020 (or y/y) decreased as they have properties which are at least partly rented to students (usually), most of which started tailing off in Q2 2020. I think it's too early to repurpose these properties as the students flow should come back and occupation will stay lower until this happens.

They do cite that Alberta has a "large student tenant base" which explains the occupancy going down to 72.5% compared to 98.1% last year, due to university closures.
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