Madison Pacific Properties Inc. Reports Strong Turnaround in Net Income for Four Months Ended December 31, 2024

Madison Pacific Properties Inc. (the Company) (TSX: MPC and MPC.C), a Vancouver-based real estate company, has reported a significant turnaround in its net income for the four months ended December 31, 2024. The Company's net income for this period was $5.1 million, compared to a net loss of $44.2 million in the previous year. This remarkable improvement can be attributed to several key factors, including a net gain on the fair value adjustment on investment properties, a reduction in equity losses of associate and joint ventures, and an increase in investment properties.



The Company's net income of $5.1 million for the four months ended December 31, 2024, is a testament to its strong financial performance and strategic management. The Company's investment portfolio composition and occupancy rates play a crucial role in its financial performance. As of August 31, 2024, the Company's investment portfolio comprises 55 properties with approximately 1.9 million rentable square feet of industrial and commercial space and a 50% interest in seven multi-family rental properties with a total of 219 units. The occupancy rates within these properties are approximately 91.25% for industrial and commercial properties and 98.2% for multi-family rental properties. These high occupancy rates indicate a strong demand for the Company's properties, contributing to its property revenues.



The Company's development properties include a 50% interest in the Silverdale Hills Limited Partnership, which currently owns approximately 1,405 acres of primarily residential designated development lands in Mission, British Columbia. This diversified portfolio and strong occupancy rates have contributed to the Company's net income turnaround.

In conclusion, Madison Pacific Properties Inc.'s strong financial performance and strategic management have resulted in a significant turnaround in its net income for the four months ended December 31, 2024. The Company's investment portfolio composition and high occupancy rates have contributed to this remarkable improvement. As the Company continues to focus on its strategic growth and management, investors can expect to see further positive developments in its financial performance.