Madison Makes Push to Diversify
Madison Pacific Properties (TSX:MPC) has made a $13.4M equity investment for a 61% interest in a portfolio of 12 industrial properties in BC, Alberta, Ontario, and Quebec. Three of those properties are in Langley and one in Kelowna. The portfolio includes 538k SF of building space leased to a single tenant, Taiga Building Products, an industry leader in building products distribution. "Most of our assets are in Metro Vancouver," company CFO Dino Di Marco says. "We wanted to diversify geographically, so that's part of the push here. This was a good opportunity for us."