The Trust
The Morguard Real Estate Investment Trust (REIT) was created following an initial public offering in 1997. The proceeds were used to purchase a portfolio of well diversified real estate assets located across Canada-including shopping centres, office buildings and industrial buildings. Morguard REIT's asset base has grown since its origination through the acquisition of properties which have provided cash flow growth and asset appreciation potential.
Morguard REIT's portfolio consists of more than 10 million square feet with an aggregate book value of $1.2 billion.
Approximately 60% of our portfolion (measured by operating income) is retail, including the 845,000 square foot St. Laurent Centre in Ottawa and the 700,000 square foot Cambridge Centre in Cambridge, Ontario. Approximately 25% of the portfolio is office and the balance is industrial.
Morguard REIT has a strong, experienced management team, assisted by property management and leasing services provided by Morguard Investments Limited.
Through its prudent and financially conservative investment policy and geographic and product diversification, Morguard REIT offers investors a unique opportunity to participate in a diverse portfolio of Canadian real estate assets.
Objectives of the Trust
The Morguard REIT has two primary objectives:
(i) To provide Unitholders with stable cash distributions on a monthly basis and tax deferred from investments in a diversified portfolio of income-producing real properties.
(ii) To improve and maximize Unit value through the ongoing management of the Trust's assets, future acquisitions and the development of additional income-producing real properties.
Benefits
Morguard REIT distributes to its unitholders a significant percentage of its distributable income on a tax deferred basis. At the end of each calendar year, the REIT may also distribute any net capital gains realized from dispositions.
For more information and an introduction to Real Estate Investment Trusts, please read Report on REITS. (PDF format)
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