Morguard Sells Its 131 Queen Street Stake in Ottawa to PSPC for $148.2M
Morguard has closed the disposal of its leasehold at 131 Queen Street in Ottawa to PSPC for $148.2M, with net cash proceeds near $118.2M.
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what happened
Canadian company Morguard reported that it has finalized the sale of its leasehold at 131 Queen Street in Ottawa to PSPC. The price of $148.2M sits 34% above the previously reported IFRS fair value. The information was passed on by TradingView, citing the company's press release.
After repaying $29.6M of property debt and covering costs, net cash proceeds came to roughly $118.2M. The buyer exercised an option in the contract, which reduced the risk of the deal.
why it matters
For the market, this is another sign of portfolio recycling: an office asset is being turned into cash that, according to the source, will fund residential exposure. The key question now is the return on that future residential purchase and whether the company can make more disposals at a premium.
tags
instruments
sources
- Morguard Corporation (MRC) Sells 131 Queen For $148.2M, Nets ~$118.2M — TradingView, 28 October 2026 at 16:15 UTC
prepared by the newsmetry newsroom with ai assistance from the sources listed below. not investment advice.
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