SEDAR Interim Financial Statements
[ { "companyName": "Madison Pacific Properties Inc.", "reportingPeriodEnd": "2025-09-30", "reportStatus": "Unaudited", "auditorName": "PricewaterhouseCoopers LLP", "auditorKeyMatters": [], "balanceSheet": { "cashAndCashEquivalents": 16684, "amountsReceivableAndOtherCurrentAssets": 5809, "incomeTaxesReceivable": 264, "totalCurrentAssets": 22757, "investmentProperties": 758151, "investmentInAssociateAndJointVentures": 59639, "deferredIncomeTaxAssets": 626, "otherNonCurrentAssets": 643, "totalNonCurrentAssets": 819059, "totalAssets": 841816, "currentPortionOfDebtOnInvestmentProperties": 93505, "accountsPayableAndAccruedLiabilities": 8815, "incomeTaxesPayable": 25, "uncertainTaxLiabilities": 500, "totalCurrentLiabilities": 102845, "debtOnInvestmentPropertiesNonCurrent": 255904, "deferredIncomeTaxLiabilities": 59632, "otherNonCurrentLiabilities": 2207, "totalNonCurrentLiabilities": 317743, "totalLiabilities": 420588, "shareCapital": 72715, "retainedEarnings": 333758, "totalEquityAttributableToShareholders": 406473, "nonControllingInterests": 14755, "totalEquity": 421228, "cashPerShare": 0.2806, "workingCapitalPerShare": -1.3469 }, "incomeStatement": { "propertyRevenues": 34053, "propertyOperatingExpenses": 10388, "generalAndAdministrativeExpenses": 3698, "netGainOnFairValueAdjustmentOnInvestmentProperties": 18622, "equityLossesOfAssociateAndJointVentures": -1239, "interestIncome": 648, "interestExpense": 11664, "lossesOnFairValueAdjustmentOnInterestRateSwaps": 1104, "incomeBeforeIncomeTaxes": 25230, "incomeTaxes": 4292, "netIncome": 20938, "netIncomeAttributableToShareholders": 16182, "netIncomeAttributableToNonControllingInterests": 4756, "incomePerShare": 0.27, "weightedAverageSharesOutstanding": 59462555 }, "cashFlowStatement": { "netIncome": 20938, "cashGeneratedFromOperatingActivities": 6546, "cashUsedInInvestingActivities": -10882, "cashGeneratedFromFinancingActivities": 1968, "netDecreaseInCash": -2368, "cashBeginningOfPeriod": 19052, "cashEndOfPeriod": 16684 }, "investmentsAndOtherAssets": [ { "type": "Investment in associate", "description": "Grant Street Properties Inc.", "ownershipPercentage": 36.04, "value": 23660, "notes": "Equity method investment, 36.04% ownership" }, { "type": "Investments in joint ventures", "description": "Silverdale Hills Limited Partnership and Barnet Limited Partnership", "ownershipPercentage": 50, "value": 35979, "notes": "50% interests in each, equity method investments" } ], "shareStructure": { "authorizedShares": "unlimited", "issuedShares": 59462555, "classesOfShares": ["Class B voting common shares", "Class C non-voting shares"], "warrants": [], "options": [], "rightsConvertibleInstruments": null }, "managementCompensation": { "currency": "CAD", "periods": { "nineMonthsEndedSeptember302025": { "salariesAndShortTermBenefits": 1455 }, "nineMonthsEndedAugust312024": { "salariesAndShortTermBenefits": 1506 } }, "namedIndividuals": [], "otherRelatedPartyTransactions": [ { "counterparty": "Related party company", "description": "Construction and property management services", "amount": 607, "period": "nine months ended September 30, 2025" }, { "counterparty": "Shareholder", "description": "Management consulting charges", "amount": 1097, "period": "nine months ended September 30, 2025" }, { "counterparty": "Shareholder and related tenants", "description": "Rental revenues", "amount": 2253, "period": "nine months ended September 30, 2025" } ] }, "subsequentEvents": [ { "eventDate": "October 2025", "description": "Agreement to acquire a 50% interest in a 20-unit residential apartment property in Metro Vancouver for $2,275 excluding closing costs, expected completion January 2026", "impactValue": 2275 } ] } ]