Melcor Developments completed the acquisition of the remaining stake in Melcor REIT for CAD71.3m.

Melcor Developments, a diversified real estate development and asset management company, completed the acquisition of the remaining stake in Melcor REIT, an unincorporated, open-ended real estate investment trust, for CAD71.3m. “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.