07:11 AM EST, 11/04/2024 (MT Newswires) -- Madison Pacific Properties ( MDPCF ) , a Vancouver-based real estate company, over the weekend said its net loss for the fourth quarter narrowed as revenue rose.

The net loss declined to $42,000 or $0.00 per share, from $6.8 million, or $0.12 per share, in the same quarter last year.

Property revenue, which includes rental and property management revenue, increased 15% to $11.4 million. This was due to an increase in lease rates on certain properties, the additions of four properties and a one-time lease termination fee. The increase was partially offset by vacancies throughout the quarter.