Morguard Corporation issued a statement acknowledging the effects of COVID-19 on the global market, while also assuring staff, residents and stakeholders that health and wellbeing remains the top priority.

“At Morguard, we are putting every possible effort into how best to respond. Our first priority is the health and safety of our people, tenants, residents and guests,” the statement said. “As the efforts to contain COVID-19 continue, the impact on the global economy has been swift. Morguard is taking definitive action. Our teams are connected and operating. Morguard’s pre-established Crisis Management Team, consisting of senior management executives from each asset class and discipline, has been activated.”

The statement went on to acknowledge the importance of those property managers at the forefront of the crisis. “With direct responsibility for tenant and resident relations and with accountability to the bulk of our employees, property management is driving our COVID-19 response activities, including adjusting to an altered service model and reviewing all non-critical services and projects.”

Measures in place to deal with the COVID-19 pandemic to date have included:

• Communications with critical service providers to ensure continuation of services as well as to ensure compliance with Morguard’s health and safety protocols;
• Enhanced communications with tenants and stakeholders, internally and externally, through increased use of technology, as well as with other industry experts and government representatives. These efforts have allowed Morguard to establish an interdisciplinary network of real estate professionals to gain deeper insights into the economic consequences happening now, and the potential implications for the future;
• The bulk of employees working from home due to social distancing initiatives, and/or working rotating shifts where they are essential to operations.

Despite the recent volatility, Morguard assures stakeholders that its core philosophy remains strong in that “real estate is a defensive position during economic uncertainty.”