Madison Pacific Properties Inc T.MPC

Mission LP Second land purchase

[Malpeque2]

Investment property acquisitions: On December 11, 2017, the Company acquired through its interest in the Silverdale Hills Limited Partnership, a 50% interest in 459 acres of undeveloped residential land in Mission, British Columbia for $14,757. The vendor in the transaction is a party related to MVC.

[Malpeque2]

Undervalue:     So this is about $64K per acre in 2017.     YOu want to believe that somehow undeveloped and un entitled large acre parcels in Mission have somehow gone up 15 times in value in 5 year to justify the company paying about $1M per acre in recent transaction for 2 parcels in 2022 fiscal year.     And that it is not a plan or scheme to

[undervalue]

There are plenty of land sale real estate broker web sites that cover availability and sales. The most recent prices are a million an acre. Lower prices if the lands are ouside the central plan. Land jumps all over the place during slumps like this year. They spent huge money doing the planning for the city. The result is no political risk. It was the zoning that gave prices such a huge lift. Next

[undervalue]

Grippo and his school buddies bought the initial land in the 1960's. They did not have a lot of exposure in the lands close to the highway.  They needed exposure to lead the roads up to where they have the most acres.