Melcor Developments Ltd T.MRD

Alternate Symbol(s): MODVF

Melcor Developments Ltd. is a diversified real estate development and asset management company The Company develops and manages mixed-use residential communities, business and industrial parks, office buildings, retail commercial centers, and golf courses. The Company operates in four segments: Land, Properties, REIT, and Golf. The Land segment is responsible for purchasing and developing land to be sold as residential, industrial and commercial lots. The Properties segment owns approximately 24 leasable commercial, retail and residential properties and other rental income producing assets, such as parking lots and land leases. The REIT segment owns approximately 38 leasable commercial and retail properties and other rental income producing assets, such as residential property, parking lots and land leases. The Golf segment owns and manages three 18-hole golf course operations (one of which is 60% owned) and has a 50% ownership interest in one 18-hole golf course.

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Melcor Developments Ltd > NCIB and Melcor REIT

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Comment by Northforce13on Feb 01, 2024 1:12am

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Post# 35856385

RE:NCIB and Melcor REIT

A lot of their buildings are office and retail, so like all other office and retail REITs it trades at a discount .
They pay a nice dividend and have been doing the right thing in buying back shares with idle cash.

If they wanted to do an SIB of significance, they would have to start selling buildings in order to raise cash to do so.

I am a shareholder and I am happy with what they are doing.

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