Morguard Completes $410 Million Sale of Hotel Portfolio

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[{"type":"text","content":"\n \n \n \n Morguard Completes $410 Million Sale of Hotel Portfolio\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prngen4{\nPADDING-RIGHT:0.17em; PADDING-LEFT:0.17em; VERTICAL-ALIGN: BOTTOM; TEXT-ALIGN: RIGHT; BORDER-TOP:black 1pt; BORDER-RIGHT:black 1pt; BORDER-BOTTOM:black 1pt; BORDER-LEFT:black 1pt\n}\n.prngen5{\nPADDING-RIGHT:0.17em; PADDING-LEFT:0.17em; VERTICAL-ALIGN: BOTTOM; TEXT-ALIGN: RIGHT; BORDER-TOP:black 1pt; BORDER-RIGHT:black 1pt; BORDER-BOTTOM:black 0.5pt solid; BORDER-LEFT:black 1pt\n}\n.prngen3{\nPADDING-RIGHT:0.17em; PADDING-LEFT:0.17em; VERTICAL-ALIGN: BOTTOM; BORDER-TOP:black 1pt; BORDER-RIGHT:black 1pt; BORDER-BOTTOM:black 1pt; BORDER-LEFT:black 1pt\n}\n.prngen2{\nPADDING-RIGHT:0.17em; PADDING-LEFT:0.17em; VERTICAL-ALIGN: BOTTOM; BORDER-TOP:black 1pt; BORDER-RIGHT:black 1pt; BORDER-BOTTOM:black 0.5pt solid; BORDER-LEFT:black 1pt\n}\n.prnml4{\nMARGIN-TOP:0em; MARGIN-RIGHT:0em; MARGIN-BOTTOM:0em; MARGIN-LEFT:0.33em !IMPORTANT\n}\n.prnbcc{\nBORDER-COLLAPSE: COLLAPSE\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n \n MISSISSAUGA, ON\n \n \n ,\n \n \n Jan. 19, 2024\n \n \n /CNW/ - Morguard Corporation (\"Morguard\") (TSX: MRC) announced today the successful completion of its previously announced sale of a portfolio of 14 high-quality hotels for gross proceeds of\n \n $410.0 million\n \n . This strategic transaction signifies Morguard's progress in optimizing its real estate portfolio and sharpening its focus on core real estate investments.\n \n \n \"The successful conclusion of this deal is a testament to the appeal of our hotel portfolio and the strength of Morguard's management over the years,\" said K.\n \n Rai Sahi\n \n , Chairman and Chief Executive Officer. \"We are pleased to have capitalized on the current market demand for high-quality hotels. This positions us well for future growth.\"\n \n \n The portfolio, comprising 14 renowned hotels including Marriott, Hilton, IHG and independent hotels across\n \n Canada\n \n , specifically in the\n \n Greater Toronto Area\n \n (\n \n Toronto\n \n ,\n \n Mississauga\n \n ,\n \n Markham\n \n ,\n \n Va...

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