Melcor Commits to Full Acquisition of Melcor REIT

Melcor Real Estate Investment Trust (REIT) and Melcor Developments Ltd. have both entered into voting support agreements with Telsec Property Corporation and FC Private Equity Realty Management Corp. in relation to Melcor’s proposed acquisition of Melcor REIT. According to the revised arrangement, Melcor will acquire the remainder of its unowned interest in Melcor REIT Limited Partnership, approximately 45%, for $5.50 per unit, totaling all 13 million outstanding Class A LP Units. This proposal offers an 11% increase over the previous bid. The parties agree to vote in favor of the proposal, currently scheduled for an April 11, 2025, vote, meant to consolidate the management and improve efficiency. Melcor, focused on real estate since 1923, oversees abundant assets across Canada and the U.S., while Melcor REIT manages lucrative properties in Western Canada. This strategic consolidation is to be formally documented and submitted to Canadian regulatory authorities.