Melcor Developments Ltd T.MRD

Alternate Symbol(s): MODVF

Real Estate Real Estate - General

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.

TSX:MRD - Post by User

Melcor Developments Ltd > Melcor REIT Offer

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Comment by REITmanon Nov 28, 2024 11:16pm

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Post# 36336728

RE:Melcor REIT Offer

Bummer. They are paying way too much for the REIT. I suppose they will do okay if they wind it down over the next few years (selling the assets at ~90% of IFRS NAV), but they would have been much better off sticking to their guns and offering just $3 or $4, take it or leave it. Hard to fathom why they are allowing themselves to be bullied by a lightweight.

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