Morguard North American Residential REIT owns a diversified portfolio of 41 multi-suite residential rental properties in North America. It is an open-end real estate investment trust. The REIT has a greater focus in the Greater Toronto Area, which is the most significant economic area in Canada.
The real estate portfolio consists of 16 Canadian residential apartment communities located in Alberta and Ontario and 25 apartment communities located in leading cities of the U.S. Its properties have higher occupancy rates at 95% for U.S. properties and 99% for the Canadian properties.
About 58% of its portfolio is located in the U.S. and 42% is in Canada. Morguard North American Residential REIT seeks potential acquisition opportunities in the urban and major suburban regions in Canada and the U.S. Ontario, Florida, Illinois and Texas are the REIT’s major markets generating nearly 75% of the total NOI.