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.

TSX:MRT.DB.A - Post by User

Morguard Real Estate Investment 5 25 convertible unsecured subordinated debentures > Short position update

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Comment by slston Nov 19, 2021 1:47pm

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Post# 34146752

RE:Short position update

Shorts can lock their downside by purchasing the Debentures now or later, just in case Management raises the distribution. Over 60% of the distribution goest to the parent anyway.

If the debenture in converted, it frees MRT to finance their Burquitlam Mega Project some time next year.

Shorts likely correctly predicted that the coversions price would be brought down so drastically. So now their worse case senario is $7.8 - $8 per share. Still great for us any hoo...

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