Madison Pacific Properties Inc. announces the results for the four months ended December 31, 2024

Core Viewpoint - Madison Pacific Properties Inc. reported a net income of $5.1 million for the four months ended December 31, 2024, a significant recovery from a net loss of$44.2 million for the previous year [4]. Financial Performance - The company transitioned its financial year-end from August 31 to December 31, with the current reporting period being a four-month transition year [2]. - Cash flows from operating activities before changes in non-cash operating balances were $3.6 million, compared to$11.4 million for the year ended August 31, 2024 [4]. - Earnings per share for the current period were $0.08, a turnaround from a loss per share of$0.74 in the previous year [4]. Investment Properties - As of December 31, 2024, the company owned approximately $724 million in investment properties, an increase from$708 million as of August 31, 2024 [5]. - The investment portfolio consists of 55 properties with around 1.9 million rentable square feet of industrial and commercial space, and a 50% interest in seven multi-family rental properties totaling 219 units [6]. - The leasing rates for the properties are high, with 94.71% of industrial and commercial space leased and 98.63% of multi-family residential properties leased [6]. Development Projects - The company has a 50% interest in the Silverdale Hills Limited Partnership, which owns approximately 1,406 acres of primarily residential designated development lands in Mission, British Columbia [6].