BRIEF-Morguard North American Residential REIT Acquires 50 Percent Ownership Position In Luxury Residential Complex In Downtown Chicago By Reuters

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BRIEF-Morguard North American Residential REIT Acquires 50 Percent Ownership Position In Luxury Residential Complex In Downtown Chicago

Published Nov 06, 2019 09:05 Updated Nov 06, 2019 12:34

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BRIEF-Morguard North American Residential REIT Acquires 50 Percent Ownership Position In Luxury Residential Complex In Downtown Chicago

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Nov 6 (Reuters) - Morguard North American Residential Real Estate Investment Trust MRG_u.TO :

* MORGUARD NORTH AMERICAN RESIDENTIAL REIT ACQUIRES 50 PERCENT OWNERSHIP POSITION IN LUXURY RESIDENTIAL COMPLEX IN DOWNTOWN CHICAGO

* MORGUARD NORTH AMERICAN RESIDENTIAL REAL ESTATE INVESTMENT TRUST - TRANSACTION IS EXPECTED TO CLOSE BY MID-DECEMBER FOR A PURCHASE PRICE OF US$265.0 MILLION

* MORGUARD NORTH AMERICAN RESIDENTIAL REIT - MORGUARD WILL INCREASE ITS OWNERSHIP FROM 49% TO 50%

* MORGUARD NORTH AMERICAN RESIDENTIAL - WILL OPERATE PROPERTY ON A 50/50 JOINT VENTURE BASIS

* MORGUARD NORTH AMERICAN - MANAGEMENT SECURED MORTGAGE FINANCING ON PROPERTY IN AMOUNT OF $165.0 MILLION FOR A 10-YEAR TERM AT AN INTEREST RATE OF 3.27%

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