TSX: MRT.UN

MISSISSAUGA, ON, Oct. 31, 2012 /CNW/ – Morguard Real Estate Investment Trust (“Morguard REIT” or the “REIT”)
(TSX: MRT.UN), announced today that it has completed its acquisition of
a 100% freehold interest in Penn West Plaza, Calgary, a Class A office
property that is comprised of two office towers with 621,628 square
feet of gross leasable area, 379 parking spaces and 17,766 square feet
of prime retail space.

Penn West Plaza (207 & 213-9th Avenue S.W.) is located in the Central
Business District of downtown Calgary. Both Class A office towers
(other than ancillary retail space) are 100% leased to Penn West
Petroleum Ltd. (NYSE: PWE TSX: PWT), and secured by a long-term net
lease, with a remaining lease term of 12 years.

About Morguard REIT

Morguard REIT is a closed-end real estate investment trust, which owns a
diversified portfolio of 54 high quality retail, office and mixed use
properties in Canada with an approximate value of $2.6 billion and
comprising approximately 9.1 million square feet of leaseable space.

SOURCE Morguard Real Estate Investment Trust