Exciting Developments at Madison Pacific Properties Inc. Unveiled

Positive Half-Year Results from Madison Pacific Properties Inc.

Madison Pacific Properties Inc. (TSX: MPC and MPC.C), a well-regarded Vancouver-based real estate company, has recently reported its results of operations covering the half-year period ending June 30, 2025.

The Company underwent a significant change in its financial year-end, moving it from August 31 to December 31. This shift is effective for the financial year beginning September 1, 2024. Notably, the comparative figures for the six months ending June 30, 2025, now correspond to the six months that concluded on May 31, 2024.

In accordance with International Financial Reporting Standards (IFRS), Madison Pacific Properties has disclosed strong financials for the period. For the first half of 2025, the Company reported a remarkable net income of $22.4 million, which is a substantial increase from the $13.6 million reported in the same period of 2024.

The cash flow generated from operating activities saw a slight decrease, totaling $6.0 million compared to $6.3 million in the previous year. Per share earnings also revealed significant growth, as they grew from $0.23 to $0.30 during this period. A majority of their net income stemmed from a notable gain on the fair value adjustment on their investment properties, amounting to around $21.9 million, up from $9.7 million in 2024.

As of June 30, 2025, Madison Pacific Properties owned approximately $741 million worth of investment properties, a slight increase from $724 million at the end of 2024.

Diverse and Thriving Investment Portfolio

The investment portfolio of Madison Pacific comprises a diverse array of 54 properties, encompassing about 2.0 million rentable square feet of both industrial and commercial spaces. Furthermore, the Company holds a 50% interest in eight multi-family rental properties that contain a total of 239 units, indicating their robust position in the rental market.

Currently, the Company has an impressive leasing rate of 97.95% for its industrial and commercial properties, while its multi-family residential properties boast an even higher leasing rate of 99.16%. Their development ventures include a significant 50% stake in the Silverdale Hills Limited Partnership, which manages approximately 1,425 acres of primarily residential lands designated for development in Mission.

Leadership Changes to Foster Growth

In a strategic move to further strengthen its management, Madison Pacific has announced that Dino Di Marco will take over as President and CEO of the Company starting September 1, 2025. Di Marco’s extensive experience with the Company, having served as Chief Financial Officer from 2013 to 2021, positions him well for this new role. His leadership experience within the Madison Group and the Madison Industrial Group, coupled with his credentials as a Chartered Professional Accountant, will be beneficial in steering the Company’s future.

The Board also expressed its gratitude towards John DeLucchi, who will remain as Chairman, for his impactful leadership and contributions over the years, guiding the Company towards its impressive successes.

New Director Appointment and Dividend Announcement

Additionally, Madison Pacific is excited to welcome Robert Pringle as a new member of the Board of Directors. Pringle has a rich background, with over two decades at CIBC, and later as CEO of United Flower Growers, reflecting his strengths in strategic management.

To reward its shareholders, Madison Pacific has declared a dividend of $0.0525 per share on both Class B voting common shares and Class C non-voting shares, set to be distributed on September 3, 2025. Shareholders on record as of August 25, 2025, will benefit from this dividend, classified as an "eligible dividend" for taxation purposes.

Frequently Asked Questions

1. What financial results did Madison Pacific Properties report?

For the six months ended June 30, 2025, the company reported a net income of $22.4 million, up from $13.6 million during the same period in 2024.

2. Who will be the new President and CEO of Madison Pacific?

Dino Di Marco will take over as President and CEO, effective September 1, 2025, succeeding John DeLucchi, who will continue as Chairman.

3. What does Madison Pacific's investment portfolio look like?

As of June 30, 2025, the Company owned approximately $741 million in investment properties, with a diverse portfolio including industrial, commercial, and residential units.

4. How is the leasing performance of Madison Pacific's properties?

The leasing rates are impressive, with industrial and commercial properties at 97.95% and multi-family residential units at 99.16% leased.

5. What dividend has Madison Pacific announced for its shareholders?

The Company has declared a dividend of $0.0525 per share, payable on September 3, 2025, for Class B and Class C shareholders.

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