Morguard Real Estate Investment Trust Reports Flat Q1 Earnings Amid Retail Gains and Office Challenges
Morguard Real Estate Inv. reported flat net operating income (NOI) of CAD 25.6 million in the first quarter compared to CAD 25.7 million a year ago, with improved retail performance offsetting office sector softness due to tenant move-outs and lower occupancy rates. The trust ended Q1 with CAD 61 million in liquidity and plans to reissue a convertible debenture maturing at the end of 2026.
Topics: debt management net operating income (NOI) occupancy rates real estate