Mackenzie Realty SEC Filings

MacKenzie Realty Capital reported a much stronger fiscal third quarter for the period ended March 31, 2026. Net revenues rose to $5.4 million, up 27% from $4.3 million a year earlier. Net operating loss narrowed to $2.5 million from $5.8 million, while net loss improved to $1.0 million from $6.1 million, an 84% reduction.

Funds from operations (FFO) turned positive at $308,040 versus a $3.2 million deficit, and adjusted FFO (AFFO) improved to $537,514 from negative $2.3 million, reflecting better cash-style performance. The Company also highlighted that its Aurora at Green Valley property is now stabilized and over 90% leased, and it realized a $521,718 profit on a CNL Healthcare Properties investment financed with a short-term Streeterville Capital loan that has been paid down.

MacKenzie Realty Capital, Inc. reports higher rental and property income but remains unprofitable. For the quarter ended March 31, 2026, rental, reimbursement and other property income was $5,441,504, up from $4,273,646 a year earlier, yet operating expenses kept results negative.

Quarterly net loss attributable to common stockholders improved to $2,044,591 from $6,911,399, and nine‑month net loss was $11,637,478. Total assets were $239,440,124 and total liabilities $154,183,226, leaving total equity of $85,256,898. Operating cash flow for the nine months was a use of $2,755,870, funded largely by new debt and equity financing.

MacKenzie Realty Capital, Inc. has confirmed regular dividends for its Series A, B and C preferred shares for the quarter ending June 30, 2026. The update explains current quarterly payments and sets monthly dividend rates for April, May and June, payable in July 2026.

Series A investors of record on March 31, 2026 receive up to $0.375 per share for the quarter, with lower amounts for later acceptance dates, and a newly approved $0.125 per share monthly dividend. Series B pays a 12% preferred return on the $25 purchase price, split between cash and accrued dividends, with $0.0625 per share in monthly cash dividends approved. Series C provides a 9% preferred return, or $0.1875 per share per month, with that monthly rate approved for April through June 2026.

Robert E. Dixon filed Amendment No. 2 to a Schedule 13D reporting beneficial ownership of 146,665 shares of MacKenzie Realty Capital, Inc. common stock, equal to 7.46% of outstanding shares based on 1,966,400 shares as of February 17, 2026.

As of April 6, 2026, this includes 54,241 shares held directly, with sole voting and dispositive power, and an additional 92,424 shares held through MPF Successors, LP and MacKenzie Real Estate Advisers, LP, over which he may share voting and investment power and whose beneficial ownership he expressly disclaims.

In the last sixty days, he acquired 5,000 shares at $3.64 per share on February 24, 2026 and 10,000 shares at $3.4972 per share on April 6, 2026.

MacKenzie Realty Capital, Inc. CEO and President Robert E. Dixon reported an open-market purchase of 10,000 shares of MacKenzie Realty Capital Inc. Common Stock at an average price of $3.4972 per share. This buy increased his direct holdings to 54,241 shares of common stock.

The filing also reports indirect holdings of 86,855 shares held by MacKenzie Real Estate Advisers, LP and 5,569 shares held by MPF Successors, LP, reflecting interests in related limited partnerships. Dixon disclaims beneficial ownership of these indirect positions except to the extent of his pecuniary interest in those entities.

MacKenzie Realty Capital, Inc. entered into a Note Purchase Agreement with Streeterville Capital for secured promissory notes with an aggregate principal amount of up to $1,095,000, receiving initial cash funding of $1,000,000 after original issue discount and expenses.

The Secured Note is backed by a first-position security interest over assets of subsidiary MRC QRS, Inc. and a stock pledge of MRC QRS common stock, with MRC QRS also providing a guaranty of the obligations. The note features a one-time Monitoring Fee if still outstanding after 90 days and escalating payment obligations starting at monthly interest-only payments and later $91,250 plus interest.

Trigger Events and Events of Default can increase the outstanding balance by up to 15% for Major Trigger Events and 5% for Minor Trigger Events (each capped at three applications), and may accelerate the debt with default interest up to 22% per annum. The company used the loan to purchase approximately $1,000,000 of CNL Healthcare Properties, Inc. shares at $4.55 per share, which management highlights as attractive given expected merger consideration of about $6.90 per share.

MacKenzie Realty Capital, Inc. CEO and President Robert E. Dixon reported an open-market purchase of 5,000 shares of MacKenzie Realty Capital Inc. Common Stock at $3.64 per share. Following this transaction, he directly owns 44,241 shares. Additional indirect holdings are reported as 86,855 shares held by MacKenzie Real Estate Advisers, LP and 5,569 shares held by MPF Successors, LP, where Dixon has interests but disclaims beneficial ownership except to the extent of his pecuniary interest.

MacKenzie Realty Capital, Inc. reported continued losses for the quarter and six months ended December 31, 2025 as it invests in a West Coast-focused real estate portfolio. Rental, reimbursement and other property income fell to $4.59 million for the quarter and $9.13 million for six months, down from $8.03 million and $12.98 million a year earlier as prior-period lease income and an impairment charge distorted comparisons.

Total operating expenses were $9.30 million for the quarter and $17.33 million for six months, compared with $12.59 million and $24.98 million in the prior-year periods, reflecting the absence of a $9.50 million impairment recorded last year. Net loss attributable to common stockholders was $5.51 million for the quarter and $9.59 million for six months, versus $5.28 million and $13.42 million a year earlier, with basic and diluted net loss per share of $5.34 for the six-month period after a 1‑for‑10 reverse stock split.

At December 31, 2025, total assets were $238.05 million, including $215.27 million of real estate assets, net, funded largely by $129.91 million of mortgage notes payable and total liabilities of $152.02 million. Total equity was $86.03 million, split between $51.81 million attributable to stockholders and $34.22 million to non‑controlling interests.

Operating cash flow was negative $3.59 million for the six months, while investing activities used $6.21 million, primarily for real estate investments. Financing activities provided $10.50 million, driven by new mortgage borrowing, preferred and common stock issuance and a registered offering with concurrent private placement, resulting in a net increase in cash, cash equivalents and restricted cash to $4.82 million. The company completed a 1‑for‑10 reverse stock split, listed its common stock on Nasdaq and continued to raise capital through preferred stock programs, an at‑the‑market facility, and a February 2025 registered direct offering with associated warrants as it builds a diversified portfolio of multifamily and office properties in California and Georgia.

MacKenzie Realty Capital, Inc. entered into a new secured promissory note for $1,635,000 with Streeterville Capital, LLC under an existing Note Purchase Agreement that allows up to $3,270,000 of notes. This new instrument, called Secured Note #3, follows an earlier $545,000 secured note issued on August 1, 2025, and together the two notes are considered material to the company.

Both Secured Note #2 and Secured Note #3 mature 18 months after the Investor delivers the respective purchase price and carry original issue discounts of $45,000 and $135,000, respectively. The company used the proceeds from these notes to purchase non-traded REIT securities through a tender offer, effectively financing this investment activity with secured debt.