Madison Pacific Properties Inc T.MPC

Sam...

[undervalue]

A couple shareholders are steamed at the swap of a portion of a  Burnaby property for shares.
It may be tax planning. I think the price was OK.
I think it further backs up the thought that we are in sync with Sam's notions of under valuation.
This co has other major holders that would have watched that the value was in line.
The Foundation values cash higher than shares, they have projects to fund.

[undervalue]

From Colliers q2 Average price for industrial in Greater Vancouver was $441 a foot. With average ask rent at $14.88 a foot. Burnaby ask rent $15.80. Burnaby raw land price over 6 million an acre. The transaction was for 1.88 acres and 44,150 sq ft.  The raw land market value is worth 11.5 million. Giving the building a cost of $90 a foot. For a 4 year old building with 28 foot clearance

[tkirk62]

The price is only below market because the shares are issued below book and quite far below fair value. Grippo is receiving much more than $350/ft of value. You said before (your "I have my position, time to talk." post) that your sum of the parts was $8-$15. That's roughly th range in my mind too. If we value the shares Grippo received at $8, the value is $436.50/sq.ft - pretty

[undervalue]

I hear you, and, I agree. I own several miss priced companies with dominant shareholders that treat them as essentially private companies. It is a pain, and sometimes I think it is the essential reason for the discount. That said, most of us can continue to be able to buy shares below the deal price in the open market, (at least today) and considerably below our guess of long term values. 

[Malpeque2]

Undervalue:    I think your information is excellent.  So thanks for that.   I think it 's a combination of the control shareholder in many of these cases that creates the discount,  BUT,  JUST AS IMPORTANTLY,  does the control shareholder and the BOD treat their minority shareholders fairly and exercise good corporate governance.    IMO the

[undervalue]

The following story was given to me by a fellow TWC shareholder. He pointed out that the real estate roll up story is gaining traction at Parkit. The investment dealers like it because they are raising money. The institutions like it because it is a growth story. They are using the private holdings of the main holders as a growth pipeline.  For MPC, they could roll up all the minority held