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

MRT Used to have Book Value of $28

[Predator2018]

Same properties and after many write downs has dropped book value to $18. The properties are still the same original ones and I really wonder why the appraised values of these properties are always heavily discounted for many years and this management does not want to fix it. They can sell many assets to realize more value than carrying them year to year.

[CatchTheDip]

Morguard Corp. Records IFRS full value on their books, not the REIT's trading price. It doesn't affect them much trading here. MRT or Morguard should have bought units and raised the unit price to get a better conversion price on debentures. Cash is tight though. Morguard Corp. is still in default of some of its obligations (but much less so than earlier in the year). Need to preserve cash