MI Developments investor sells 907,700 shares, keeps 10.4% interest

By Lisa Kerner

Charlotte, N.C., Nov. 13 - MI Developments Inc. investors led by Hotchkis and Wiley Capital Management, LLC sold 907,700 shares between Sept. 18 and Nov. 10 priced from $13.18 to $14.62 each, according to a schedule 13D/A filed with the Securities and Exchange Commission on Friday.

Hotchkis and Wiley Capital beneficially owns 4,819,400 shares, or 10.4%, of the company's outstanding stock.

MI Developments is an Aurora, Ont.-based real estate operating company engaged in the ownership, development, management, leasing and acquisition of industrial and commercial real estate properties located in North America and Europe.

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