Morguard Corporation Announces Filing of Final Base Shelf Prospectus

MISSISSAUGA, ON, Nov. 23, 2017

This news release does not constitute an offer to sell securities, nor is it a solicitation of an offer to buy securities in any jurisdiction. This news release does not constitute an offer of securities for sale in the United States and the securities referred to in this news release may not be offered or sold in the United States absent a registration or an exemption from registration.

About Morguard Corporation

Morguard Corporation is a real estate company, with total assets owned and under management valued at $22.0 billion. Morguard owns a diversified portfolio of 208 multi-suite residential, retail, office, industrial and hotel properties comprised of 18,129 residential suites, approximately 16.5 million square feet of commercial leasable space and 5,557 hotel rooms. Morguard also currently owns a 54.1% interest in Morguard Real Estate Investment Trust, a 46.9% effective interest in Morguard North American Residential Real Estate Investment Trust and a 55.9% effective interest in Temple Hotels Inc. Morguard also provides advisory and management services to institutional and other investors. For more information, visit Morguard's website at www.morguard.com.

Forward–Looking Statements

This press release contains forward-looking information within the meaning of applicable securities legislation, which reflects Morguard's current expectations regarding future events. Forward-looking information is based on a number of assumptions and is subject to a number of risks and uncertainties, many of which are beyond Morguard's control, that could cause actual results and events to differ materially from those that are disclosed in or implied by such forward-looking information. Such risks and uncertainties include, but are not limited to the factors discussed in Morguard's current Annual Information Form and MD&A, which are both available on Morguard's website at www.Morguard.com and on SEDAR at www.sedar.com. Morguard does not undertake any obligation to update such forward-looking information, whether as a result of new information, future events or otherwise, except as expressly required by applicable law.

SOURCE Morguard Corporation