ES
MSIC PROPERTIES, LLC EBITDA RESULTS Fiscal Years Ending September 30 ($ in Thousands)
of Transportation Needham Street/Highland Avenue Improvement Project currently in process. The location will be further improved by the abutting Northland Newton Development Project, which when the project is complete, will include 10 acres of public open space, 800 residential units, office space and retail space. This development project will transform the 30 acre site into a walkable, environmentally sustainable new neighborhood. Of direct benefit to the property is the completion of the garage improvement project during November 2021, at a total cost of $6.6 million. This project is the most recent example of MSIC’s long term strategy to improve the condition of the property to attract and retain tenants and to increase its valuation.
$1,368
$1,153
$1,087
$524
$199
2018
2019
2020
2021
2022
MSIC PROPERTIES, LLC OPERATING RESULTS Fiscal Years Ending September 30 ($ in Thousands)
$865.6
$865.6
$756.6 $756.6
$645.8 $645.8
4.20%
4.20%
3.70% 3.70%
3.16%
3.16%
2021
2022
2021
2022
2020
2018
2019
2020
-0.73%
-0.73%
-$153.3
-$153.3
-2.62%
-2.62%
-$657.1
-$657.1
Net Income MSIC Properties Net Income MSIC Properties
Investment Yield
Investment Yield
2022 ANNUAL REPORT
21
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