MI Developments investor sells 543,100 shares, keeps 9.4% interest

By Lisa Kerner

Charlotte, N.C., Dec. 10 - MI Developments Inc. investors led by Hotchkis and Wiley Capital Management, LLC sold 543,100 shares between Nov. 11 and Dec. 3 priced from $13.70 to $14.00 each, according to a schedule 13D/A filed with the Securities and Exchange Commission on Thursday.

Between Sept. 18 and Nov. 10, the investors sold 907,700 shares and kept a 10.4% stake, a prior SEC filing said.

Hotchkis and Wiley Capital beneficially owns 4,347,600 shares, or 9.4%, 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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