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Technology Stocks : John, Mike & Tom's Wild World of Stocks -- Ignore unavailable to you. Want to Upgrade?

To: wlheatmoon who wrote (535)	3/21/2000 1:50:00 PM
From: John Pitera	Read Replies (1) \| Respond to of 2850

Mike, those are liquidation distributions made to shareholders, as the company is selling off it's assets and winding up it's business. From what I read they have made 27$ worth of distributions, the remaining mkt cap is 72$ mill. It looks like they are getting close to their objective. MGI Properties 1 Winthrop Sq. Boston, MA 02110 Phone: 617-422-6000 Fax: 617-422-6010 Bye-bye, MGI! A real estate investment trust (REIT) founded in 1971, MGI Properties has sold nearly all of its portfolio and is trying to sell the rest. The company, which sold more than 60 (primarily New England) properties in 1999, still holds investments in three retail sites, two office properties, and a parcel of undeveloped land. In 1998 MGI's directors decided that complete liquidation of the company would maximize shareholder value; since then the company has focused on the sale of its assets. MGI plans to establish a liquidation trust to dispose of remaining assets. Investor Warren Buffett owns 13% of the REIT. Top Competitors: Bradley Real Estate \| Cornerstone Realty \| Ramco-Gershenson