Madison Pacific Properties Inc. announces the results for the nine months ended September 30, 2025

Executive Summary

• Madison Pacific Properties reports nine‑month net income of $20.9 million, up from $13.6 million a year earlier, and earnings per share of $0.27 versus $0.22.
• The increase is driven largely by a $18.6 million fair‑value gain on investment properties.
• As of September 30, 2025 the company owns approximately $758 million of investment properties and maintains high occupancy rates (≈97% industrial/commercial, ≈98% multifamily).

Key Details

• Net income for nine months ended Sep 30 2025: $20.9 M (vs. $13.6 M for the comparable period in 2024).
• Cash flow from operating activities (before non‑cash changes): $8.0 M, down from $9.8 M YoY.
• Income per share: $0.27, up from $0.22 YoY.
• Fair‑value adjustment on investment properties contributed a $18.6 M gain (vs. $7.8 M prior year).
• Losses on fair‑value adjustments of interest‑rate swaps: $1.1 M (vs. $2.7 M YoY).
• Interest expense: $11.7 M, higher than $9.5 M in the prior period.
• Interest income: $0.6 M, down from $1.7 M YoY.
• Equity losses of associates and joint ventures: $1.2 M (previous year had a $0.8 M gain).
• Investment property portfolio value as of Sep 30 2025: ≈$758 M (up from $724 M on Dec 31 2024).
• Portfolio composition: 54 properties, ~2.0 million rentable sq. ft. industrial/commercial space; 50% interest in eight multifamily assets totaling 239 units.
• Occupancy rates: 97.23 % of industrial/commercial space leased; 98.33 % of multifamily units leased.
• Development holdings include a 50% interest in Silverdale Hills LP, owning ~1,425 acres of primarily residential‑designated land in Mission, BC.
• Board approved change of fiscal year‑end from Aug 31 to Dec 31, effective for the fiscal year beginning Sep 1 2024; nine‑month comparatives are adjusted accordingly.

Notable Quotes

(No direct quotes were provided in the release.)