Morguard multi-suite portfolio: $1.1B allocation and financing now finalized

The Morguard and TD Asset Management multi-suite portfolio transaction has moved a step closer to closing, with the allocation and financing now finalized rather than just conditions waived.

 

What changed Nov 2: the total is about $1.1B gross for about a 26% undivided interest in 91 properties holding 12,302 suites. Morguard Corp takes $621M for 31 properties and 4,728 suites, and Morguard Residential REIT takes $478M for 60 properties and 7,574 suites.

 

Named slices in C&Co. target markets include Windsor with 9 properties and 478 suites at 20%, London with 9 properties and 792 suites at 20%, and Hamilton with 5 properties and 689 suites at 20%. Financing includes about $225M in vendor financing and assumed CMHC insured mortgages at about 46% LTV, and a $20M non refundable deposit has been paid. Closing is planned in a single tranche, pending CMHC and lender approvals.

 

For multifamily investors, this is a live institutional pricing and structure reference for Ontario apartment portfolios: a partial interest, vendor financing, and assumed CMHC insured debt at about 46% LTV. It also puts institutional ownership directly into Windsor, London, and Hamilton rental stock, markets where private buyers compete for the same tenant base.

 

Source: Transaction update, Nov 2, 2026.