Morguard Confirms $1.1 Billion Stake Deal in TD Residential Portfolio
Morguard has finalized its agreement to acquire about a 26% interest in 91 multi-suite properties from TD Asset Management, valued at roughly $1.1 billion.
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what happened
Morguard said its agreement to buy an interest of about 26% in a portfolio of 91 multi-suite residential properties from TD Asset Management is now firm, according to Reuters and TradingView. The company has finished its due diligence, and the related purchaser conditions have been waived.
The gross purchase price is about $1.1 billion before closing costs. Morguard will take interests in 31 properties for $621 million, while Morguard North American Residential REIT, a publicly traded real estate trust, will take 60 properties for $478 million. Closing is expected in a single tranche, subject to approval from CMHC and lenders.
Financing will combine cash on hand, assumed CMHC-insured mortgages, about $225 million of vendor financing and short-term borrowings.
why it matters
The deal expands the residential portfolio of this Canadian manager across Ontario, Alberta, Quebec and Nova Scotia. For the broader market it matters mostly as an example of large deals in rental housing rather than as a macro signal.
market impact
Morguard and MRG.UN: a large rental-housing purchase expands the companies' portfolios
tags
instruments
sources
- Morguard Provides Transaction Update Agreement To Acquire $1.1 Billion Interest In TD Asset Management Multi-Suite Residential Portfolio Now Firm — Reuters, 2 November 2026 at 22:19 UTC
- Morguard Provides Transaction Update: Agreement to Acquire $1.1 Billion Interest in TD Asset Management Multi-Suite Residential Portfolio Now Firm — TradingView, 2 November 2026 at 22:15 UTC
prepared by the newsmetry newsroom with ai assistance from the sources listed below. not investment advice.
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