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

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

Real Estate REIT - Diversified

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.

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Morguard Real Estate Investment 5 25 convertible unsecured subordinated debentures > The reason why this might be a value trap....

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Comment by slston Oct 28, 2021 3:00pm

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Post# 34060218

RE:RE:RE:RE:RE:The reason why this might be a value trap....

They do say they are in dicussions to renew. The parent company holds $60 million of the $175. I hope they do not offer a drastically lower conversion rate.

Besides the Burquitlam Plaza to build 2,175 residential units + 85,000 sq ft of Commerical Space, they are still repurposing Old Sears spaces in several provinces for new tenancts. That is taking a long time and making investors very impatient.

The short squeeze will only come if they make some meaningful progress with their new financings AND with their repurposing/releasing new spaces. Burquitlam Plaza is also potentially a huge pick up in Value that is not yet recognized.....its likely a few years ahead.

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