Morguard Completes Prime Ottawa Property Sale

Morguard Corporation (OTC) (TSE:MRC) has released an update.

Morguard Corporation has completed the sale of its property at 181 Queen Street in Ottawa for $125.3 million, which involved the repayment of a $57.7 million mortgage. The purchaser, Public Works and Government Services, exercised a pre-existing option to buy at market value. Despite this sale, Morguard continues to be a dominant office property owner in Ottawa, recently acquiring a 50% stake in another property to bolster its portfolio.

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