mig real estate (MIGRE) Snapshot

MIG Real Estate R.E.I.C., Annual General Meeting, Apr 10, 2013.

MIG Real Estate R.E.I.C. acquired three hotels in the Tampa Bay Market: the Courtyard and Residence Inn in Oldsmar, Florida, and Residence Inn in Lutz, Florida. These acquisitions are the company's first in Florida and increase its overall hotel portfolio to 8 properties. Located at 4014 Tampa Road, the Courtyard in Oldsmar was built in 2003 and contains 99 guestrooms. The property features 2,000-square feet of meeting space and is 15 miles from downtown Tampa. MIG will complete a comprehensive renovation to the lobby, guestrooms, and other public spaces over the next year. The Residence Inn, located at 4012 Tampa Road, was built in 2005 and contains 78 guestrooms. The hotel is located 12 miles from Tampa International Airport and 15 miles from downtown Tampa. The public spaces of this property will also be updated by MIG over the next year. Located at 2101 Northpointe Parkway, the Residence Inn in Lutz was built in 2008 and contains 100 guestrooms. The property is located in the northern portion of the Tampa metro area, approximately 15 miles from Tampa International Airport. It draws extended stay guests from a wide array of business employers in Tampa's northern suburbs. Nearby amenities include the Shops at Wiregrass, Pasco County's newest shopping destination.

MIG Real Estate R.E.I.C. reported consolidated and standalone earnings results for the second quarter and year to date ended June 30, 2012. For the quarter, the company reported consolidated LBIT of €2,398,702 compared to €2,409,255 a year ago. Losses before taxes were €2,507,563 compared to €2,507,563 a year ago. Loss after tax was €2,552,933 compared to €2,552,933 a year ago. Total net loss for the period was €2,545,104 compared to €2,545,104 a year ago. Net losses attributable to shareholders were €2,545,109 compared to €2,544,859 a year ago. Basic losses per share were €0.2069 compared to €0.2069 a year ago. LBITDA was €2,365,071 compared to €2,381,624 a year ago. For the year to date, the company reported consolidated investment property rental income of €2,450,464 compared to €2,630,163 a year ago. LBIT was €5,451,229 compared to €1,098,900 a year ago. Losses before taxes were €5,796,737 compared to €1,289,381 a year ago. Loss after tax was €5,897,911 compared to €1,432,288 a year ago. Total net loss for the period was €5,833,699 compared to €1,724,710 a year ago. Net losses attributable to shareholders were €5,833,599 compared to €1,724,835 a year ago. Basic losses per share were €0.4780 compared to €0.1161 a year ago. LBITDA was €5,428,576 compared to €1,040,419 a year ago. Cash inflow from operating activities was €1,419,897 compared to €1,523,818 a year ago. Acquisition of tangible and intangible fixed assets was €5,016 compared to €4,843 a year ago. For the quarter, the company reported standalone investment property rental income of €979,549 compared to €1,111,948 a year ago. LBIT of €6,618,093 compared to €2,521,894 a year ago. Losses before taxes were €6,664,948 compared to €2,579,331 a year ago. Loss after tax was €6,686,139 compared to €2,613,023 a year ago. Total net loss for the period was €6,552,334 compared to €2,343,363 a year ago. Net losses attributable to shareholders were €6,552,334 compared to €2,343,363 a year ago. Basic losses per share were €0.5418 compared to €0.2118 a year ago. LBITDA was €6,609,461 compared to €2,494,264 a year ago. For the year to date, the company reported standalone investment property rental income of €2,071,332 compared to €2,264,306 a year ago. LBIT of €5,814,150 compared to €1,662,093 a year ago. Losses before taxes were €5,894,415 compared to €1,767,346 a year ago. Loss after tax was €5,947,472 compared to €1,834,281 a year ago. Total net loss for the period was €5,833,799 compared to €1,724,834 a year ago. Net losses attributable to shareholders were €5,833,799 compared to €1,724,834 a year ago. Basic losses per share were €0.4820 compared to €0.1486 a year ago. LBITDA was €5,791,497 compared to €1,603,613 a year ago. Cash inflow from operating activities was €1,199,741 compared to €1,407,378 a year ago. Acquisition of tangible and intangible fixed assets was €1,916 compared to €4,843 a year ago.