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Madison Pacific Properties Inc. (TSX: MPC and MPC.C) announces joint venture to redevelop commercial property

VANCOUVER, British Columbia, Feb. 06, 2018 (GLOBE NEWSWIRE) -- Madison Pacific Properties Inc. (TSX:MPC) (TSX:MPC.C) (the Company) reports that it has entered into a 50/50 joint venture with a residential developer to rezone and redevelop to residential and commercial use, a 4.5 acre commercial property the Company currently owns in Coquitlam, British Columbia.  Rezoning and development of the property is subject to receipt of all necessary approvals, none of which are certain at this time.

About the Company: Madison Pacific Properties Inc. is a Vancouver-based real estate company with approximately $501 million in investment properties, comprising 1.8 million rentable sq. ft. of industrial and commercial space, of which, approximately 99% of the available space is leased.

Contact: Mr. Marvin Haasen   Mr. Dino Di Marco
  President & CEO   Investor Information
Telephone:  (604) 732-6540   (604) 732-6540
Fax: (604) 732-6550    
   
Address: 389 West 6th Avenue    
  Vancouver, B.C.    
  V5Y 1L1    

/EIN News/ --