Melcor Real Estate Investment Trust - Edmonton, AB

Melcor Developments Ltd. is a publicly traded Canadian real estate development and asset management company founded in 1923 and headquartered in Edmonton, Alberta. The company has been publicly traded on the Toronto Stock Exchange under ticker symbol MRD since 1968. Melcor operates as a fully integrated real estate firm that manages the complete life cycle of development from raw land acquisition through community planning, construction, and long-term asset management. As of December 2025, Melcor managed 4.37 million square feet of commercial real estate assets and 445 residential rental units across Canada and the United States. The company's portfolio spans office, retail, industrial, and mixed-use properties, along with residential land development communities and four golf courses. Melcor has developed over 170 communities and commercial projects across Western Canada since the 1950s, with more than 2.9 million square feet of commercial projects completed to date. The company operates through three primary business divisions: Properties (commercial real estate), Land (residential community development), and Golf. In 2025, Melcor reported record revenue of $410.5 million CAD, up 17% from 2024, with funds from operations of $122.1 million CAD. The Properties division contributed 71% of revenue and 58% of gross margin, while Land development generated 26% of revenue and 42% of gross margin. The company's geographic footprint includes Alberta (Edmonton, Calgary, Red Deer, Lethbridge), Saskatchewan (Regina), British Columbia (Kelowna), and select U.S. markets in Arizona and Colorado. In April 2025, Melcor completed the acquisition of the remaining 45% equity interest in Melcor Real Estate Investment Trust for approximately $55.7 million CAD, consolidating the REIT's portfolio and simplifying the company's structure under a single balance sheet. The company maintains over 7.5 million square feet in approved land use developments for completion over the next 10-15 years. Melcor is controlled by the Melton family, now in its fourth generation of leadership under Executive Chair and CEO Tim Melton.