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

Alternate Symbol(s): MNARF | T.MRG.UN

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

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Post by HermannHalleron Jul 28, 2022 4:10pm

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Post# 34858100

Conference call

Some points:

looking to buy properties in US, no rush, market a bit quiet. Chicago property bought at 4.5% cap, much higher than properties sold in southern states. Plus newer bldg.
Occupancy and rents continue to grow in Cda, full return to school provided boost
in response to question on what mgmt is doing to get unit price closer to NAV, simply said focused on growing business, getting story out (nothing specific)
nothing on NCIB or dividend

GLTA

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