Madison Pacific Properties Inc T.MPC

Undervalue...........A few Questions.

[Malpeque2]

This Silver Hills LP.    We own 50%.    Whom is our partner in this project?     A major real estate developer according to Madison.

IF the partnership owns 1400 acres,   and we used 30 acres or so to develop the townhomes and single family lots,   and it's all sold............I think we still have a lot of acres left in inventory to develop,  don't we?

So why buy in 2 seperate transactions some more land in the area for over $1M per acre?    The deal is described in the current financial reports on SEDAR.  Scheduled to close in 2022 and later.   Looks like a descent deposit paid to secure these two parcels. 

What do you think?

[undervalue]

Partner is Polygon.  One of the largest builders in Vancouver.  Over 30,000 homes sold. Revenues of over a billion a year. Founder is donating 100 million to the Vancouver Art Gallery.   Lots of money, and very smart. They are also partners in the Port Coquitlam density project. They are paying over a million an acre because that is the now current market price. I assume they

[undervalue]

One idea that may have occurred to get them to pay up to a million an acre. Obviously,  some land holders had the luck of good topography. Steeper slopes have to remain in a forested state. This may have been buy offs for complaining land holders. As was mentioned,  there was 2 concerned citizens at the meeting. Back in 2008 there were hundreds objecting. They may have just greased the

[Malpeque2]

I agree with you,  it looks like for "free".    You trust these people running MPC they are not going to screw you on this 50/50 JV  LP deal? I see problems.    I don't care about their money,   their past success,  or their charity work.   Most of the time I think it's all BS for the public consumption that they are the