Business
Morguard Reports No Significant Damage to Southeastern U.S. Portfolio after Hurricane Irma
Morguard Reports No Significant Damage to Southeastern U.S. Portfolio after Hurricane Irma...
About this update from Morguard Corporation
[{"type":"text","content":"\n\n\n\nMorguard Reports No Significant Damage to Southeastern U.S. Portfolio after Hurricane Irma\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\n\n\n\n\n\n\nCanada NewsWire\nMISSISSAUGA, Sept. 15, 2017\n\n\n\nMISSISSAUGA, Sept. 15, 2017 /CNW/ - The Morguard North American Residential Real Estate Investment Trust (the \"REIT\") (TSX: MRG.UN) and Morguard Corporation (\"Morguard\") (TSX: MRC) reported today that the company's portfolio in the southeastern United States did not sustain any significant damage as a result of Hurricane Irma.\n\n\"The safety and well-being of our residents, tenants and employees is paramount, so I am pleased to report that none of our properties in the region received any substantial damage as a result of the storm,\" said K. Rai Sahi, Chief Executive Officer of Morguard Corporation. \"We continue to support the operations teams at our properties as they proceed with the cleanup process and assist our residents and tenants in the region.\"\n\nThe REIT's portfolio in the affected region comprises six multi-suite residential properties in Florida and an additional three in Georgia. Morguard Corporation owns seven retail centres, one multi-suite residential building and one office building in Florida. \n\nPreliminary assessments indicate that none of the company's properties sustained any structural or significant damage or experienced any flooding as a result of the storm. All buildings have been reopened to provide residents with access to their homes and tenants with access to their businesses. Cleanup crews have been deployed at all properties to clear debris and perform minor repairs as necessary.\n\nThe lack of significant damage is due in part to the diligence of Morguard's operations teams, who worked in advance of the storm to take preventative measures and secure potential projectiles. Morguard employees remained in communication with residents and tenants before, during and after the storm, including establishing an emergency hotline to provide information and support.\n\nSince the storm has passed, Morguard operations teams have been making st...