M
MacKenzie Realty Capital, Inc.
MKZRCIK 0001550913NasdaqNon-AcceleratedSmaller ReportingReal Estate Investment TrustsMarylandFY ends Jun 30
Period
FY 2025
Revenue
$22.06M
Net Income
$-23.97M
Total Assets
$235.99M
Equity
$59.86M
Shares Out
2.26M
Op. Cash Flow
$-1.69M
Business
MacKenzie Realty Capital, Inc. is a Maryland-incorporated REIT investing primarily in real estate assets and secondarily in illiquid debt and equity securities of U.S. companies owning commercial real estate. The company acquires equity interests and debt instruments in office, multifamily, and mixed-use properties, predominantly through off-market transactions in the Western United States. It operates through an Operating Partnership managing properties while pursuing value-add, opportunistic, and development strategies, and is externally managed by MacKenzie Capital Management, LP.
Summary from 10-K filed 2025-09-29
Financials
Consolidated Statement of Income
Year Ended · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-06-30 | FY 2024 2024-06-30 | FY 2023 2023-06-30 | FY 2022 2022-06-30 | FY 2020 2020-06-30 |
|---|---|---|---|---|---|---|
| Rental, reimbursements and other property income | 22 | 16 | 15 | 10 | — | |
| Depreciation and amortization | 11 | 7 | 7 | 5 | — | |
| Interest expense | 9 | 6 | 9 | — | — | |
| Property operating and maintenance | 7 | 7 | 5 | 6 | — | |
| Asset management fees to related party (Note 8) | 3 | 3 | 3 | 3 | 0 | |
| General and administrative | 3 | 1 | 913,258 | 560,521 | — | |
| Professional fees | 2 | 639,696 | 615,132 | 686,064 | 263,868 | |
| Administrative cost reimbursements to related party (Note 8) | 669,855 | 756,733 | 726,000 | 609,600 | 680,000 | |
| Directors' fees | 149,223 | 105,000 | 106,000 | 107,000 | 68,000 | |
| Transfer agent cost reimbursements to related party (Note 8) | 6,145 | 66,267 | 92,000 | 106,401 | 80,000 | |
| Impairment loss | 10 | 0 | 8 | 9 | — | |
| Total operating expenses | 46 | 26 | 35 | 27 | 5 | |
| Operating loss | −23 | −10 | −20 | −17 | — | |
| Dividend and distribution income from equity securities at fair value | 74,837 | 581,030 | 535,199 | 2 | — | |
| Net unrealized gain (loss) on equity securities at fair value | 49,407 | −697,644 | −2 | 1 | — | |
| Net income (loss) from equity method investments at fair value | −764,911 | 2 | 3 | 10 | — | |
| Net realized income (loss) from investments | 132,434 | −3 | 656,984 | 7 | 2 | |
| Net loss | −24 | −11 | −4 | 4 | −12 | |
| Net income attributable to non-controlling interests | −2 | −853,665 | −405,478 | 285,294 | — | |
| Net income attributable to preferred stockholders Series A and B | −1 | −1 | −695,601 | −56,929 | — | |
| Net loss attributable to common stockholders | −27 | −13 | −5 | 5 | — | |
| Net loss per share attributable to common stockholders, Basic (in dollars per share) | −18.66 | −9.95 | −0.36 | 0.34 | −0.96 | |
| Net loss per share attributable to common stockholders, Diluted (in dollars per share) | −18.66 | −9.95 | — | — | — | |
| Basic weighted average common shares outstanding (in shares) | 1 | 1 | 13 | 13 | 12 | |
| Diluted weighted average common shares outstanding (in shares) | 1 | 1 | — | — | — |
Consolidated Balance Sheet
As of · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-06-30 | FY 2024 2024-06-30 | FY 2023 2023-06-30 | FY 2022 2022-06-30 | FY 2021 2021-06-30 |
|---|---|---|---|---|---|---|
| Land | 44 | 43 | 37 | 32 | 10 | |
| Building, fixtures and improvements | 193 | 171 | 132 | 64 | 19 | |
| Intangible lease assets | 13 | 11 | 8 | 3 | 484,148 | |
| Less: accumulated depreciation and amortization | −26 | −14 | −7 | −2 | −595,915 | |
| Total real estate assets, net | 225 | 211 | 171 | 97 | 29 | |
| Cash and cash equivalents | 4 | 12 | 17 | 7 | 4 | |
| Restricted cash | 328,239 | 1 | 898,238 | 1 | 0 | |
| Investments, at fair value | 2 | 1 | 13 | 20 | 40 | |
| Equity method investments, at fair value | 2 | 5 | — | — | — | |
| Investments income, rents and other receivables | 2 | 1 | 1 | 1 | 2 | |
| Prepaid expenses and other assets | 1 | 1 | 846,424 | 67,625 | 131,123 | |
| Total assets | 236 | 233 | 213 | 183 | 139 | |
| Mortgage notes payable, net | 120 | 114 | 91 | 68 | — | |
| Line of credit and notes payable, net | 12 | 2 | — | — | — | |
| Deferred rent and other liabilities | 2 | 1 | 1 | 443,014 | 196,145 | |
| Finance lease liabilities | 2 | 2 | 628,420 | 0 | — | |
| Dividend payable | 715,498 | 2 | 2 | 1 | 0 | |
| Accounts payable and accrued liabilities | 5 | 2 | 1 | 3 | 59,512 | |
| Below-market lease liabilities, net | 703,645 | 1 | 1 | 1 | 838,313 | |
| Due to related entities | 167,764 | 171,619 | 156,364 | 214,094 | — | |
| Capital pending acceptance | 13,411 | 297,000 | 538,600 | 85,000 | 0 | |
| Total liabilities | 142 | 125 | 102 | 78 | 41 | |
| Common stock, $0.0001 par value, 80,000,000 shares authorized; 1,578,192.98and 1,330,257.30 shares issued and outstanding as of June 30, 2025 and June 30, 2024, respectively. | 158 | 133 | 1,324 | 1,325 | 1,332 | |
| Additional paid-in capital * | 145 | 137 | 134 | 122 | 120 | |
| Accumulated deficit | −85 | −55 | −35 | −24 | −23 | |
| Total stockholders' equity | 60 | 82 | 99 | 98 | 97 | |
| Non-controlling interests | 34 | 26 | 12 | 6 | 251,840 | |
| Total equity | 94 | 108 | 111 | 104 | 97 | |
| Total liabilities and equity | 236 | 233 | 213 | 183 | 139 |
Consolidated Statement of Cash Flows
Year Ended · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-06-30 | FY 2024 2024-06-30 | FY 2023 2023-06-30 | FY 2022 2022-06-30 | FY 2020 2020-06-30 |
|---|---|---|---|---|---|---|
| Net (income) loss from equity method investments at fair value | 767,066 | −2 | — | — | — | |
| Straight-line rent | −154,952 | −132,635 | −63,543 | −19,166 | — | |
| Depreciation and amortization | 11 | 7 | 5 | 5 | — | |
| Amortization of deferred financing costs and debt mark-to-market | 1 | 1 | 948,554 | 23,146 | — | |
| Accretion of above (below) market lease, net | −544,103 | −339,767 | −474,185 | −164,695 | — | |
| Stock-based compensation | 628,137 | 0 | — | — | — | |
| Investments income, rents and other receivables | −890,103 | 67,547 | 1 | 15,038 | — | |
| Due from related entities | 0 | 17,000 | 401 | 0 | — | |
| Prepaid expenses and other assets | 125,104 | −401,222 | −622,948 | 250,345 | — | |
| Deferred rent and other liabilities | 50,398 | −49,924 | −796,083 | 115,744 | — | |
| Accounts payable and accrued liabilities | 144,376 | 743,499 | −2 | 2 | −80,251 | |
| Due to related entities | 26,097 | −15,244 | −504,520 | 70,359 | −2 | |
| Net cash from operating activities | −2 | −595,517 | −7 | 5 | −2 | |
| Proceeds from sale of investments | 962,721 | 11 | 15 | 34 | — | |
| Investments in real estate assets | −19 | −10 | −19 | −63 | — | |
| Purchase of investments | −1 | −1 | −2 | −25 | — | |
| Return of capital distributions | 0 | 938,296 | 13 | 22 | — | |
| Payment on contingent liability | 0 | −2 | −1 | 0 | — | |
| Net cash from investing activities | −19 | −1 | 15 | −32 | — | |
| Borrowing under mortgage notes payable | 48 | 3 | 3 | 34 | — | |
| Payments on mortgage notes payable | −49 | −1 | −9 | −4 | — | |
| Borrowing under line of credit | 10 | 0 | — | — | — | |
| Proceeds from notes payable | 1 | 200,000 | 10,111 | 0 | — | |
| Payments on notes payable | −223,898 | −368,164 | −17,005 | 0 | — | |
| Payment of financing fees | −2 | −876,500 | 0 | −836,802 | — | |
| Acquisition cost of below market debt | 0 | −343,000 | 0 | — | — | |
| Dividends to common stockholders | −5 | −5 | −4 | −3 | — | |
| Proceeds from issuance of common stock | 4 | 0 | — | — | — | |
| Proceeds from issuance of pre-funded warrants | 2 | 0 | — | — | — | |
| Payment on finance lease liabilities | −234,109 | −104,416 | −30,276 | 0 | — | |
| Payment of selling commissions and fees | −2 | −899,372 | −1 | −705,770 | — | |
| Contributions by non-controlling interests holders | 6 | 3 | 1,333 | 1 | — | |
| Distributions to non-controlling interests holders | −1 | −834,804 | −449,092 | −12,183 | — | |
| Redemptions of common stock | −24 | −1 | −2 | −1 | — | |
| Capital pending acceptance | −283,589 | −241,600 | 453,600 | 85,000 | — | |
| Net cash from financing activities | 12 | −3 | 450,998 | 29 | 9 | |
| Net decrease in cash, cash equivalents and restricted cash | −9 | −5 | 9 | 1 | 8 | |
| Cash paid for interest | 7 | 5 | 6 | 2 | — | |
| Stock-based compensation | 665,500 | 0 | — | — | — | |
| Operating Partnership Class A conversion to common stock | 3,301 | 0 | — | — | — | |
| Capitalized construction in progress outstanding as accounts payable and accrued expenses | 2 | 0 | — | — | — | |
| Issuance of common stock through reinvestment of dividends | 0 | 1 | 2 | 1 | — |
Filings
Filing historySign up free to browse every 10-K, 10-Q, 8-K, and proxy this filer has submitted to the SEC.Sign up free · Upgrade to Pro
Material Events
Material EventsTrack every 8-K filing and material event — AI-summarized, timelined, and alertable.Sign up free · Upgrade to Pro
Insiders
Insider ActivitySee executive buy/sell windows and insider trade activity over rolling 30/90/365-day windows.Sign up free · Upgrade to Pro
Institutional Holders
Institutional HoldersSee which funds hold this stock and track position changes quarter over quarter.Sign up free · Upgrade to Pro
Frequently asked questions
What is MacKenzie Realty Capital, Inc.'s CIK number?
MacKenzie Realty Capital, Inc.'s SEC CIK number is 0001550913 (1550913). The CIK (Central Index Key) is the permanent identifier the SEC assigns to every EDGAR filer — unlike a ticker symbol, it never changes.
Where can I find MacKenzie Realty Capital, Inc.'s SEC filings?
All of MacKenzie Realty Capital, Inc.'s EDGAR filings — 10-K annual reports, 10-Q quarterly reports, 8-K material events, and insider transactions — are listed on this page, sourced live from SEC EDGAR.