Precio Melcor Developments Ltd. (MODVF)

Melcor Developments Ltd. is a real estate development and asset management company. The company is headquartered in Edmonton, Alberta and currently employs 135 full-time employees. The firm develops and manages mixed-use residential communities, business and industrial parks, office buildings, retail commercial centers, and golf courses. The firm operates in four segments: Land, Properties, REIT, and Golf. The Land segment is responsible for purchasing and developing land to be sold as residential, industrial and commercial lots. The Properties segment owns approximately 24 leasable commercial, retail and residential properties and other rental income producing assets, such as parking lots and land leases. The REIT segment owns approximately 35 leasable commercial and retail properties and other rental income producing assets, such as residential property, parking lots and land leases. The Golf segment owns and manages three 18-hole golf course operations (one of which is 60% owned) and has a 50% ownership interest in one 18-hole golf course.