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 dangoodon Sep 19, 2024 11:16am

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Post# 36231028

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

Real estate in Alberta is doing very well. Look at Genesis Land Developments out of Calgary. Commercial real estate is definitely holding Melcor back from a reasonable rate of return on their capital. That and high interest rates on their debt (mortgages). As Peter Cundill used to say sometimes you just have to give it time for value to surface.

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