Melcor Developments to acquire the remaining stake in Melcor REIT.

Melcor Developments, a diversified real estate development and asset management company, agreed to acquire the remaining stake in Melcor REIT, an unincorporated, open-ended real estate investment trust. Financial terms were not disclosed. “On behalf of the Board of Directors, I advise Melcor’s shareholders that the Company has entered into this significant and strategic transaction that will bring Melcor’s income property portfolio back under Melcor’s full ownership,” Timothy Melton, Melcor Executive Chair and CEO.