Morguard is a fully integrated real estate company. We own, manage and invest in high quality, well-located, geographically diversified assets across North America. We built our business with strong leadership and a proven management platform that has generated substantial, risk-adjusted returns _ and significant long-term growth for our investors. Morguard has significant investment and management capabilities in multiple asset classes including office, industrial, retail, multi-suite residential and hotel. With 40 years of experience and a dynamic team of over 1,500 professionals, our commitment is to realize the potential of real estate through value creation and operational excellence. Today, our total assets owned and managed is valued at $21.9 billion. Morguard operates three diversified lines of business: Investments in Real Property: Morguard owns and manages a diversified portfolio of multi-unit residential, retail, office and industrial, and hotel properties in North America. Real Estate Investment Trusts: Morguard is a significant sponsor of two real estate investment trusts (REITs): Morguard REIT (TSX: MRT.UN), a closed-end Trust with a diversified portfolio of Canadian commercial real estate assets; and Morguard North American Residential REIT (TSX: MRG.UN), an open-end Trust with a diversified portfolio of multi-unit residential assets across North America. Advisory and Management Services: Morguard provides real estate advisory services and portfolio management services, specializing in publicly traded equities and fixed-income securities, to institutional clients and private investors.