Burnaby comparable.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
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.