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Canadian REIT Buys Rockville, Maryland, Retail Plaza for $33 Million

Morguard’s Footprint in City’s Center Grows to 434,000 Square Feet

Rockville, Maryland’s Town Square development, which includes retail and apartments, is now primarily owned by Ontario-based real estate investment trust Morguard. (CoStar)
Rockville, Maryland’s Town Square development, which includes retail and apartments, is now primarily owned by Ontario-based real estate investment trust Morguard. (CoStar)

Five years after acquiring a 492-unit apartment complex in the center of Rockville, Maryland, Ontario-based Morguard North American Residential REIT is expanding its footprint in the city’s Town Square development with the purchase of a neighboring retail portfolio.

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