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

Is this Burquitlam Plaza owned by MRT.UN?

[atopic]

As metioned in this article https://dailyhive.com/vancouver/5680552-clarke-road-coquitlam-burquitlam-plaza, this Burquitlam Plaza is valued at $186 million?

And the development application is submitted on 2020-11-26 with NO. 20-118. 

Currently there are approximatly 64.14 million outstanding shares. If this property is owned by MRT.UN, then this single property worth $2.89 per share!?

[atopic]

As stated in https://www.coquitlam.ca/DocumentCenter/View/191/Current-Development-Application---Sorted-by-Neighbourhood-and-Area-Plans-PDF Project Proposal: To construct 6 residential towers and commercial podium. Applications associated with proposal: Development Agreement with a Master Development Plan Rezoning 2 lots from from C-2 to C-7 Subdivision applicaiton for Site Configuration

[Shirtlessnomore]

Yes it is. Go to morguard reit website, then click portfolio then click download portfolio, there you will find all the properties they own. Cheers!

[Shirtlessnomore]

Also I should have stated their ownership is 100%....

[robbie88]

MRT has owned Burquitlam Plaza for many years and its cost probably is close to ZERO.  Assessed value for the land is around $3 per share.

[slst]

Actually, we do not have to look too far.  Out side accountants (auditors) have to review City Assessments,  Mortagage Appraisals and other Confirmation of values, including Lease agreements in place to arrive at Property values Every Quarter.  Its called IFRS accounting.  Gives you a rolling present value of the business. At the last quarter, the Net Property (whole company

[babybunny]

Well stated slst. There tends to be hysteresis in the IFRS assessments, meaning that it takes several quarters for the balance sheet to properly reflect drops in value.  It is not supposed to be this way, it just is.  This was a bit of a concern late last year, when we were all bracing for further writedowns.  We are now a full year past the valuation nadir, so IFRS values should