MISSISSAUGA, ON, Oct. 17, 2012 /CNW/ - Morguard Corporation (TSX: MRC) ("Morguard") released its 2012 Third Quarter Canadian Economic Outlook and Market Fundamentals research report.
The quarterly update report provides commentary on investment trends, economic data, financial conditions and leasing fundamentals that affect the performance, attractiveness and associated risk and outlook for the real estate investment market in Canada.
While the European financial crisis unfolds, investor concerns about global financial and economic instability have produced record transaction closing activity this year. By the end of the year, Canadian transaction volume is expected to have approached an annual total of $29 billion for 2012. In context, this will represent a cycle high, and the strongest performance dating back to the all-time record annual high of $32 billion set in 2007. Robust demand, from both public and private investors, has pushed pricing levels beyond the previous peak. The rationale for investing in Canada's property sector has been supported by low interest rates, attractive yield performance, and investor confidence in the overall stability of the sector.
"Transaction closing activity has been better than we anticipated, a trend we expect to continue, given a strong pipeline of assets that are expected to transact over the near-term," said Keith Reading, Director of Research at Morguard. "Prices continue to increase, driven by aggressive bidding."
A copy of the 2012 Third Quarter report is available at www.morguard.com.
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 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 integrated real estate services, including investment management, asset management and property management.
Morguard Corporation also owns a 42.8% interest in Morguard Real Estate Investment Trust and a 56.1% effective interest in the Morguard North American Residential Real Estate Investment Trust.
SOURCE: Morguard Corporation
For further information:
K. (Rai) Sahi
Chief Executive Officer