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 Mrguillaumeon Oct 28, 2021 3:33pm

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Post# 34060381

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

I think that the Burquitlam Plaza is already sitting on the books at the redevelopment value per Morguard F/S – “highest and best use as a redevelopment property”. The 2021 BC Assessment for this property is $150.5 million. As the REIT is not a developer, the property will likely transfer to the parent corp. to be development once zoning is in place. Then we can realize the value - between $150-$200 million.

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