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 > Press Release: Melcor Development to Clean up its Mess

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Comment by longrun86on Sep 15, 2024 6:29pm

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Post# 36224744

RE:RE:RE:RE:RE:RE:Press Release: Melcor Development to Clean up its Mess

Buying the non-Melcor owned shares is about $29.3 million.

I would like Melcor to publicly address (once the acquisition closes) in the Q3 report what the plan is with the investment properties division.

They should be looking to continue with asset sales. The debt refinancing should look a bit better with current interest rates but the banks might be apprehensive on the LTV ratios. I would hate to see Melcor have to put up collateral beyond the specific refinanced properties.

I have been waiting for this to transpire for a while and am excited about what they can do once this is past them.

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