1、FOCUSED ON PERFORMANCEMORGUARD CORPORATION2015 ANNUAL REPORTSTRONG FINANCIAL PERFORMANCE PAGE 4INCREASING OUR PRESENCE IN CHICAGOPAGE 8 TOP HONOURS FOR A TOP-QUALITY DEVELOPMENTPAGE 15SPOTLIGHT MORGUARD CORPORATION Morguard Corporation(“Morguard”or the“Company”)is a real estate operating company lis
2、ted on the Toronto Stock Exchange(TSX)under the symbol MRC.At December 31,2015,the Companys owned and managed portfolio of assets was valued at nearly$19 billion.Morguards primary business strategy is to create shareholder value through stable and increasing cash flow and asset value.This is achieve
3、d by improving the performance of the real estate portfolio and by acquiring and developing real estate properties in sound economic markets.The Company has three diversified lines of business:Investments in Real Property:Morguard owns and manages a diversified portfolio of high-quality residential,
4、retail,office,industrial and hotel properties in North America.Real Estate Investment Trusts:Morguard owns a significant interest in two real estate investment trusts(REITs):Morguard REIT(TSX:MRT.UN),a closed-end trust with a diversified portfolio of Canadian commercial real estate assets,and Morgua
5、rd North American Residential REIT(TSX:MRG.UN),an open-end trust with a diversified portfolio of multi-suite residential properties across North America.Advisory and Investment Services:Morguard provides real estate advisory services and portfolio management services,specializing in publicly traded
6、equities and fixed income securities,to institutional clients and private investors.ON OUR COVERThe Heathview,Toronto,ON,recipient of FRPOs Rental Development of the Year Award for 2015.FELLOW SHAREHOLDERS2015 WAS ANOTHER YEAR OF ACHIEVEMENT AS WE MAINTAINED OUR FOCUS ON CREATING VALUE IN OUR CORE L