Madison Pacific Properties Inc T.MPC

Burnaby comparable.

[undervalue]

Several watchers of this board were critical of the share swap for a building in the Big Bend area of Burnaby in August.
Most confirmed the valuation was ok, the share exchange was less than ideal dilution.
The deal was 50% of a 1.88 acre site with a faily new 44,150 sq ft. building. for 7.735 million.
This trade reported this week. $136 million for 17 acres, $8 million an acre.
It is just a couple blocks away.
This confirms what a close observer has pointed out. Just the land portfolio ex buildings is worth more than the market cap.

Bridge Studios owner to buy City of Burnaby-owned lot for new massive film studio

Kenneth Chan

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Nov 26 2021, 4:30 pm

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Larco Investments is the owner of Bridge Studios in Burnaby. (Bridge Studios)

An undeveloped 17-acre site owned by the City of Burnaby will be sold for $136 million for the precise purpose of being developed into a significant film and television production studio.

[Malpeque2]

Content Production for all the eyeballs in the world is a great business.   If you produce good stuff it's almost an ageless royalty.    Think Disney. Vancouver has got to be a cheaper place in the world to develop content compared to Hollywood. Salaries,  actor costs,  ............god forbid even the land is cheaper than Hollywood.    My guess is that

[undervalue]

I have posted my frustration with Kgf. Forcing a private with a 3 million to one roll back is bs. The price is half book. I will not fight the valuation,  I simply have no idea of the state of the Asian developments. Half book sucks,  but, the bulk of my shares were bought in the teens cents. Factor in time it was a very marginal return for what could have been a 5 bagger. It was so thin

[Malpeque2]

Good that you still made some money.   I thought you said that your buddy Andrew Saxton Jr. was going to "protect" your investment here? He resigned from the BOD and the proxy circular for the meeting showed he still had some shares but not a lot.  When they formed the JV to build and market and sell the condo's and it all went well in a good market and the cost