The portfolio, currently owned by TD Asset Management, is one of the largest institutional rental housing platforms in Canada and marks a significant expansion of Morguard’s presence in the sector.

Morguard announced it has acquired Echelon Chicago, a Class A multi-suite residential complex, for a purchase price of US $133 million.

Morguard North American Residential REIT announced it has completed the acquisition of the luxury residential complex, the Marquee at Block 37, located in Chicago, Illinois.