Morguard was a pioneer in introducing real estate equity investment to Canadian pension funds; Morguard Properties (which later became Morguard Investments Limited) was formed in 1975 to provide real estate advisory services to the first vehicles - Pensionfund Realty Limited (PRL) and Pensionfund Properties Limited (PPL) created to provide Canadian pension funds with access to equity real estate investment.
Morguard’s roots go back to the late 1960s when its parent company was created as an entrepreneurial mortgage lending organization; this original company diversified over time into the banking, trust, foreign investment and even oil and gas businesses in the early 1980s. Through the 1980s and early 1990s, Morguard Investments continued as a dedicated real estate company focused on the core business of acquiring, developing and managing properties on behalf of their pension fund clients.
In 1997, the Morguard REIT (TSX: MRT.UN), one of Canada’s first institutional quality REITs, was created through the securitization of Pension fund Properties Limited. In 1997, Morguard also acquired Ticor Realty Advisors (which formed the basis of the company’s separate account business) and introduced Morguard Financial Corp. (a firm that provides advisory services for investments in publicly traded real estate securities).
The organization began to change dramatically in 1998 – and to grow rapidly – when Acktion Corporation (formerly Acklands Automotive) acquired 100% of Morguard Investments Limited and changed its name to Morguard Corporation (TSX: MRC). Behind Acktion’s acquisition, and Morguard’s subsequent growth, was the entrepreneurial mind of K. (Rai) Sahi, Chief Executive Officer of Morguard Corporation. With a solid background in a broad range of industries – including commercial banking and transportation – he was named in 1994 “Turnaround Entrepreneur of the Year.”
Morguard launched the Morguard North American Residential REIT (TSX: MRG.UN) in April 2012, which was
formed with the purpose of generating stable and growing cash distributions to unitholders while enhancing the long-term growth
in value of a portfolio of multi-unit residential properties in both Canada and the United States.
Today, as an owner and manager of real estate, Morguard offers a broad range of unique investment vehicles to allow both institutional and individual investors to benefit from real estate investments. Morguard’s Real Estate Portfolio has grown from $2 Billion in 1998 to $15.2 Billion today (as of March 31, 2014).