Morguard Corporation marks 50 years as a listed company on TSX at Market Open
MISSISSAUGA, ON, July 31, 2012 /CNW/ - Morguard Corporation (TSX: MRC) ("Morguard") will mark 50 years as a listed company on the TSX by opening the market on August 1, 2012 at 9:30 a.m. EDT.
The origin of the original listed company was in wholesale distribution. Over the past five decades, there was a dramatic evolution through growth, market opportunity and acquisition to the Morguard of today, operating as a fully integrated commercial real estate company.
"Our first major step into real estate was in the early nineties when we realized the sector presented opportunities for equity positions in companies that owned real assets, " said K. Rai Sahi, Chairman and Chief Executive Officer of Morguard Corporation. "In 1998, the acquisition of Morguard Investments Limited provided the brand, platform and expertise to provide direct investment for investors."
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. Its assets under management have grown from $2 billion in 1998 to more than $11 billion today under the leadership of Mr. Sahi.
Morguard Real Estate Investment Trust (TSX: MRT.UN) will also be recognized for its 15th year anniversary as a TSX-listed company at the Market Open ceremony.
TSX Market Open
|Date and Time:||August 1, 2012 at 9:30 a.m. EDT|
TMX Broadcast Centre
The Exchange Tower, 130 King Street West
Morguard is an expert in North American real estate ownership, investment and management. With a strategic focus on high-quality assets and diversification, Morguard has a proven track record of realizing the potential of real estate through consistent investment performance. Morguard currently has $11 billion of assets owned and under management. The integrated real estate services company manages its own real estate portfolio, as well as invests and manages on behalf of third-party institutional and private real estate investors. Morguard offers a comprehensive range of real estate services, including acquisitions and development, to asset management, leasing, property management, research, and valuation services.
Morguard Corporation also owns a 45.8% interest in Morguard Real Estate Investment Trust and a 67.6% effective interest in the Morguard North American Residential Real Estate Investment Trust. For more information, visit the Company's website at www.morguard.com.
SOURCE: Morguard CorporationFor further information:
K. (Rai) Sahi
Chief Executive Officer
Beverley G. Flynn
General Counsel & Secretary