Morguard REIT Announces Completion of its Previously Announced
Acquisition of Penn West Plaza
TSX: MRT.UN
MISSISSAUGA, ON, Oct. 31, 2012 /CNW/ - Morguard Real
Estate Investment Trust ("Morguard REIT" or the "REIT") (TSX:
MRT.UN), announced today that it has completed its acquisition of a
100% freehold interest in Penn West Plaza, Calgary, a Class A office property that is
comprised of two office towers with 621,628 square feet of gross
leasable area, 379 parking spaces and 17,766 square feet of prime
retail space.
Penn West Plaza (207 & 213-9th Avenue S.W.)
is located in the Central Business District of downtown
Calgary. Both Class A office
towers (other than ancillary retail space) are 100% leased to Penn
West Petroleum Ltd. (NYSE: PWE TSX: PWT), and secured by a
long-term net lease, with a remaining lease term of 12 years.
About Morguard REIT
Morguard REIT is a closed-end real estate
investment trust, which owns a diversified portfolio of 54 high
quality retail, office and mixed use properties in Canada with an approximate value of
$2.6 billion and comprising
approximately 9.1 million square feet of leaseable space.
SOURCE Morguard Real Estate Investment Trust
Copyright . 31 Canada NewsWire