Morguard Corporation is a Canadian real estate company, based in

Mississauga Mississauga is a Canadian city in the province of Ontario. Situated on the north-western shore of Lake Ontario in the Regional Municipality of Peel, it borders Toronto (Etobicoke) to the east, Brampton to the north, Milton to the northwest, ...

, Ontario. It owns retail, residential, office, industrial, and hotel properties, as well as managing real estate and financial investments for

institutional investor An institutional investor is an entity that pools money to purchase securities, real property, and other investment assets or originate loans. Institutional investors include commercial banks, central banks, credit unions, government-linked ...

s. As of October 2017, it owned $9.4 billion in real estate, and managed an additional $12.6 billion. Some of its owned properties are through its controlling ownership in two publicly-listed real estate investment trusts, Morguard REIT and Morguard North American Residential REIT, and the publicly-listed Temple Hotels. It is a public company listed on the

Toronto Stock Exchange The Toronto Stock Exchange (TSX; ) is a stock exchange located in Toronto, Ontario, Canada. It is the List of stock exchanges, 10th largest exchange in the world and the third largest in North America based on market capitalization. Based in th ...

History

Morguard was founded in 1905 as D. Ackland & Son Limited."Morguard Corporation." International Directory of Company Histories, Volume 85. . ''Encyclopedia.com.'' 2 Jan. 2018 It originally made carriage parts, but transitioned into automobile parts in the 1910s. In 1960, it renamed itself Acklands Limited. At some point, it transitioned to being a wholesale distributor of automobile and industrial parts, as opposed to a manufacturer. Financial problems at the company in the 1980s led to the current president, K. Rai Sahi, taking control of the company in 1990. The company sold its industrial parts distribution to W.W. Grainger in 1996 for $250 million USD; this division was renamed Acklands-Grainger. In 1997, it sold half of automotive group to General Parts. In 1997, Acklands began investing in real estate, and was renamed Acktion Corporation. It eventually sold its remaining auto parts distribution business to focus on real estate. Notable acquisitions by Acktion include Goldlist Properties and Revenue Properties. One of its investments was Morguard REIT, a newly formed

real estate investment trust A real estate investment trust (REIT, pronounced "reet") is a company that owns, and in most cases operates, income-producing real estate. REITs own many types of real estate, including office and apartment buildings, studios, warehouses, hos ...

. Morguard REIT had been launched by Morguard Investment Services, which had been founded in 1966, to sell mortgages to pension funds. It expanded to real estate in the 1970s. After investing in a number of other Morguard companies, Acktion renamed itself Morguard Corporation in 2002. Morguard North American Residential REIT had an IPO in 2012, with properties spun-off from Morguard Corporation.

Business

Morguard owns and manages retail, residential, office, industrial, and hotel properties, as well as financial investments. As of October 2017, of its $16.2 billion in owned and managed real estate, 37% are retail, 26% are residential, 25% are offices, 9% are industrial, and the remaining 3% are hotels. Of its real estate assets, 45% are in Ontario, 15% are in Alberta, 13% are in British Columbia, 10% are in the rest of Canada, and the remaining 17% are in the United States. Morguard REIT () owns $2.9 billion in assets, primarily shopping centres and offices. Morguard North American Residential REIT () owns $2.5 billion in assets, primarily multi-residential properties in the United States and Canada. Temple Hotels () owns $500 million in Canadian hotel properties. As of January 2017, CEO K. Rai Sahi owned approximately 55% of shares in Morguard Corporation.

Properties

Shopping centres

, Morguard REIT (MRT) owns a diversified real-estate portfolio of 47 commercial properties across six provinces of Canada. The following are Morguard-owned shopping centres that have an area of at least .

Owned

Managed

* Bonnie Doon Centre in

Edmonton Edmonton is the capital city of the Provinces and territories of Canada, Canadian province of Alberta. It is situated on the North Saskatchewan River and is the centre of the Edmonton Metropolitan Region, which is surrounded by Central Alberta ...

, Alberta * Sevenoaks Shopping Centre in Abbotsford, British Columbia *

Coquitlam Centre Coquitlam Centre is a shopping mall in Coquitlam, British Columbia, Canada, built in 1979 and expanded in 2001. It is located at the southern edge of the Coquitlam Town Centre area, near Coquitlam Central station and several other smaller shopp ...

Coquitlam Coquitlam ( ) is a city in the Lower Mainland of British Columbia, Canada. Mainly suburban, Coquitlam is the List of cities in British Columbia, sixth-largest city in the province, with an estimated population of 174,248 in 2024, and one of th ...

, British Columbia * Intercity Shopping Centre in

Thunder Bay Thunder Bay is a city in and the seat of Thunder Bay District, Ontario, Canada. It is the most populous municipality in Northwestern Ontario and the second most populous (after Greater Sudbury) municipality in Northern Ontario. Its population i ...

, Ontario * Place Rosemere in Rosemere, Quebec * Lawson Heights Mall in

Saskatoon Saskatoon () is the largest city in the Provinces and territories of Canada, Canadian province of Saskatchewan. It straddles a bend in the South Saskatchewan River in the central region of the province. It is located along the Trans-Canada Hig ...

, Saskatchewan

Hotels

Offices

The following are Morguard-owned office spaces that have an area of at least *

750 Burrard Street 750 Burrard Street (also known as 969 Robson Street, or "Robson Central") is a building in Downtown Vancouver, British Columbia, Canada, at the northeast corner of Robson Street and Burrard Street. History This modern architecture building was ...

Vancouver Vancouver is a major city in Western Canada, located in the Lower Mainland region of British Columbia. As the List of cities in British Columbia, most populous city in the province, the 2021 Canadian census recorded 662,248 people in the cit ...

, British Columbia * Jean Edmonds Towers in Ottawa, Ontario * Place Innovation in St. Laurent, Quebec * Penn West Plaza in

Calgary Calgary () is a major city in the Canadian province of Alberta. As of 2021, the city proper had a population of 1,306,784 and a metropolitan population of 1,481,806 making it the third-largest city and fifth-largest metropolitan area in C ...

, Alberta (Morguard REIT) * Rice Howard Place in

, Alberta (20% ownership)

References

{{Reflist Companies listed on the Toronto Stock Exchange Real estate companies of Canada Companies based in Mississauga