MISSISSAUGA, ON,
Oct. 11, 2012 /CNW/ - Morguard
Corporation (TSX: MRC) ("Morguard"), announced today that it has
acquired 1,218,100 units of Morguard Real Estate Investment Trust
(TSX: MRT.UN) ("Morguard REIT") in a number of market purchases
completed between June, 2012 and October 10,
2012, at a weighted average price of $17.61 per unit, through the facilities of the
Toronto Stock Exchange. As of September 30, 2012, there were 61,099,559 units
outstanding of Morguard REIT. Following the acquisitions,
Morguard owns 27,399,005 units, representing 44.84% of the
outstanding units of Morguard REIT (based on the issued and
outstanding Morguard REIT units as of September 30, 2012).
The units were acquired for investment purposes
only and Morguard could increase or decrease its investment in
Morguard REIT depending on market conditions or any other relevant
factors.
Morguard REIT is a closed-end real estate
investment trust, which owns a diversified portfolio of 53 high
quality retail, office and mixed-use properties in Canada with an approximate value of
$2.2 billion and approximately 8.5
million square feet of leaseable space.
Morguard Corporation is a major Canadian real
estate and property management company. It has extensive
retail, office, industrial and residential holdings owned directly
and through its investment in Morguard REIT and Morguard North
American Residential Real Estate Investment Trust. Morguard
provides management services to institutional and other investors
for commercial and residential real estate through Morguard
Investments Limited and Morguard Residential.
SOURCE Morguard Corporation