Morguard Update to Stakeholders

About this update from Morguard North American Residential Real Estate Investment Trust

[{"type":"text","content":"\n\n\n\nMorguard Update to Stakeholders\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, ON, March 31, 2020\n\n\n\nMISSISSAUGA, ON, March 31, 2020 /CNW/ - Morguard Corporation (\"Morguard\" or the \"Company\") (TSX:MRC), along with Morguard Real Estate Investment Trust (TSX:MRT.UN) and Morguard North American Residential Real Estate Investment Trust (TSX: MRG.UN), acknowledges that the worldwide health crisis has profoundly affected us all.  While we are currently in an uncertain and volatile market period, Morguard's strategically diversified asset portfolio and healthy, conservative debt ratios and financial resources provide strength against economic and real estate cycles, allowing us to mitigate the impact COVID-19 has on our stakeholders.\nAt Morguard, we are putting every possible effort into how best to respond.  Our first priority is the health and safety of our people, tenants, residents and guests. As the efforts to contain COVID-19 continue, the impact on the global economy has been swift. Morguard is taking definitive action. Our teams are connected and operating. Morguard's pre-established Crisis Management Team, consisting of senior management executives from each asset class and discipline, has been activated. \nProperty management is clearly at the forefront of addressing our tenant and resident concerns. With direct responsibility for tenant and resident relations and with accountability to the bulk of our employees, property management is driving our COVID-19 response activities, including adjusting to an altered service model and reviewing all non-critical services and projects.  Communications have taken place with critical service providers to ensure continuation of services as well as to ensure compliance with Morguard's health and safety protocols. Asset management is working closely with property management.\nOther teams are providing property management with support as we face new challenges. We are emphasizing more communication, internally and externally. We have increased our use of technology, an...

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