Madison Pacific Properties Inc T.MPC

Our partner is Polygon........

[Malpeque2]

Undervalue.    Another question.   IF Polygon is a successfull builder,  building 30,000 homes and revenue over $1B a year.................WHY are we preselling these single family lots to a builder,  within the JV?    Who appears not to be Polygon!     The company would disclose that we are selling the lots to Polygon IF the JV  are doing this would they not.     The proper legal disclosure would have to assume that we AND  Polygon are selling these lots to a 3rd party builder?

WHY would we not just build them to completion and sell them with Polygon in the JV and split the profits 50/50?    Since you say they are such a successfull builder!

How do we know that the JV is getting a fair price for the value of these single family home lots?   The company does not disclose what price we are selling these lots for,  not does it disclose to whom we are selling these lots to.     

IF we are selling these lots to our JV partner,   Polygon,  in advance of them building the homes and then reselling the completed homes to and end user,  does that make business sense for MPC?

[undervalue]

Not sure. The Archer Green townhomes were built by the JV. The home builder Morningstar is associated with Polygon. Polygon specializes in density building. A significant part of the development is density. My guess is that Polygon just likes dealing with the larger numbers. Frankly, I am much happier with lot sales than home building. Home building is time intensive, medium margin work. Lot sales

[Malpeque2]

Undervalue:   I value your posts because you include all this market info that I would never find......BUT....don't forget about King George Financial.    History does not actually repreat,  but it rymes.  You told me you had this former Bigshot Politician from BC that was a director and large shareholder of KGF that was there to protect your interests as a

[undervalue]

Re King George, we were screwed. The Canadian board did not have control. The real estate sales in Canada were totally wasted in Asia.  That said, I did not lose money, my cost was teen cents low. Further, the thing was so illiquid, I never had a big position, less than 100k shares. No doubt though, it was an insult. Re MPC, the way I look at it, Grippo shows no signs of being a fool. I

[Malpeque2]

Undervalue:    The asian investor had control of the stock and control of the BOD.   Your guy was in their pocket,  the MP from BC.    He got "paid" some other way and not in the shares for cash price.  The price was a knockdown deal.   He probably did a lot of PR work to get the permits thru for development of the land for a Malay.