MISSISSAUGA, ON, March 5,
2020 /CNW/ - On February 27,
2020, Morguard Real Estate Investment Trust
("the Trust") (TSX: MRT.UN) announced that it was in
formal discussions with Obsidian Energy Ltd ("Obsidian") regarding
a potential lease amendment for its Penn West Plaza tenancy. These
discussions continue and the Trust will advise when discussions are
concluded.
Penn West Plaza is a 636,500 square foot Class A office complex,
consisting of two towers, located at 207 and 215 9th Avenue,
Calgary, Alberta. Both office
towers are fully leased to Obsidian Energy Ltd. until January 2025.
About Morguard Real Estate Investment Trust
The Trust is a closed-end real estate investment trust, which
owns a diversified portfolio of 48 retail, office and industrial
income producing properties in Canada, comprising approximately 8.5 million
square feet of leasable space, with a value of $2.9 billion.
Forward-Looking Disclaimer
Statements contained herein that are not based on historical or
current fact, including without limitation, statements containing
the words "anticipate", "believe", "may", "continue", "estimate",
"expects", "will" and words of similar expression, constitute
"forward-looking statements". Such forward-looking statements
involve known and unknown risks, uncertainties and other factors
that may cause the actual results, events or developments to be
materially different from any future results, events or
developments expressed or implied by such forward-looking
statements. Such factors include, among others, the following:
general economic and business conditions, both nationally and in
the regions in which the Trust operates; changes in business
strategy or development/acquisition plans; environmental exposures;
financing risk; existing governmental regulations and changes in,
or the failure to comply with, governmental regulations; liability
and other claims asserted against the Trust; and other factors
referred to in the Trust's filings with Canadian securities
regulators. Given these uncertainties, readers are cautioned not to
place undue reliance on such forward-looking statements. The Trust
does not assume the obligation to update or revise any
forward-looking statements.
SOURCE Morguard Real Estate Investment Trust