MacKenzie Realty Capital Files 10-Q for Dec 31, 2024

TL;DR

**MacKenzie Realty Capital 10-Q filed: Financials for Dec 31, 2024 are in. Check preferred stock details.**

AI Summary

MacKenzie Realty Capital, Inc. filed its 10-Q report for the period ending December 31, 2024. The company, a real estate investment trust, reported financial information for the quarter and year-to-date periods. Key financial data includes details on preferred stock, Series A and Series B, as of December 31, 2024, and June 30, 2024.

Why It Matters

This filing provides investors with an update on MacKenzie Realty Capital's financial performance and position as a real estate investment trust, crucial for understanding its current operational health.

Risk Assessment

Risk Level: medium — As a real estate investment trust, the company is subject to market fluctuations and interest rate risks inherent in the real estate sector.

Key Numbers

• 2024-12-31 — Reporting Period End Date (Indicates the end of the fiscal period covered by the 10-Q.)
• 2025-02-14 — Filing Date (The date the 10-Q was officially submitted to the SEC.)

Key Players & Entities

• MacKenzie Realty Capital, Inc. (company) — Filer of the 10-Q report
• 2024-12-31 (date) — End of the reporting period
• 2025-02-14 (date) — Filing date
• Series A Preferred Stock (company) — Financial instrument detailed in the filing
• Series B Preferred Stock (company) — Financial instrument detailed in the filing

FAQ

Key Financial Figures

• $0.0001 — ange on which registered Common Stock, $0.0001 par value per share MKZR Nasdaq Cap
• $1 — $ 102,574,875 * Amount is less than $1. The accompanying notes to consolidat

Filing Documents

• ef20039012_10q.htm (10-Q) — 3619KB
• ef20039012_ex31-1.htm (EX-31.1) — 13KB
• ef20039012_ex31-2.htm (EX-31.2) — 14KB
• ef20039012_ex32-1.htm (EX-32.1) — 6KB
• ef20039012_ex32-2.htm (EX-32.2) — 6KB
• 0001140361-25-004609.txt ( ) — 15534KB
• mrc-20241231.xsd (EX-101.SCH) — 111KB
• mrc-20241231_cal.xml (EX-101.CAL) — 78KB
• mrc-20241231_def.xml (EX-101.DEF) — 489KB
• mrc-20241231_lab.xml (EX-101.LAB) — 1189KB
• mrc-20241231_pre.xml (EX-101.PRE) — 638KB
• ef20039012_10q_htm.xml (XML) — 3029KB

Notes to Consolidated Financial Statements (Unaudited)

Notes to Consolidated Financial Statements (Unaudited) 6 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 35 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 52 Item 4.

Controls and Procedures

Controls and Procedures 53 PART II. OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 54 Item 1A.

Risk Factors

Risk Factors 54 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 54 Item 3. Defaults Upon Senior Securities 55 Item 4. Mine Safety Disclosures 55 Item 5. Other Information 55 Item 6. Exhibits 56 Table of Contents

FINANCIAL INFORMATION

Part I. FINANCIAL INFORMATION Item 1. Consolidated Financial Statements MacKenzie Realty Capital, Inc. Consolidated Balance Sheets (Unaudited) December 31, 2024 June 30, 2024 Assets Real estate assets Land $ 35,690,148 $ 34,053,565 Building, fixtures and improvements 169,400,043 157,251,012 Intangible lease assets 12,437,847 10,976,549 Less: accumulated depreciation and amortization ( 17,154,350 ) ( 12,684,205 ) Total real estate assets, net 200,373,688 189,596,921 Cash and cash equivalents 6,142,915 11,777,930 Restricted cash 780,406 778,330 Investments, at fair value 972,545 1,341,164 Equity method investments, at fair value 2,598,444 4,703,266 Investments income, rents and other receivables 1,637,176 1,239,666 Deferred offering costs 667,607 - Prepaid expenses and other assets 1,038,730 1,254,722 Assets held for sale, net 22,147,725 22,395,769 Total assets $ 236,359,236 $ 233,087,768 Liabilities Mortgage notes payable, net $ 124,450,160 $ 113,687,699 Notes payable 1,773,288 1,635,773 Deferred rent and other liabilities 1,281,595 1,193,209 Finance lease liabilities 2,377,410 1,887,984 Dividend payable 1,386,405 2,313,822 Accounts payable and accrued liabilities 5,408,173 2,311,554 Below-market lease liabilities, net 1,236,869 1,284,832 Due to related entities 122,446 171,260 Capital pending acceptance 171,088 297,000 Liabilities held for sale 415,085 355,543 Total liabilities 138,622,519 125,138,676 Equity Common stock, $ 0.0001 par value, 80,000,000 shares authorized; 13,473,075.79 and 13,302,572.99 shares issued and outstanding as of December 31, 2024 and June 30, 2024, respectively. 1,347 1,330 Preferred stock, $ 0.0001 par value, 20,000,000 shares authorized: Series A Preferred stock, 764,887.87 and 761,370.46 shares issued and outstanding as of December 31, 2024 and June 30, 2024, respectively. 7

notes to consolidated financial statements are an integral part of these consolidated financial statements

notes to consolidated financial statements are an integral part of these consolidated financial statements. 5 Table of Contents MacKenzie Realty Capital, Inc.

Notes to Consolidated Financial Statements

Notes to Consolidated Financial Statements December 31, 2024 (Unaudited) NOTE 1 – PRINCIPAL BUSINESS AND ORGANIZATION M acKenzie Realty Capital, Inc. (the "Parent Company" together with its subsidiaries as discussed below, collectively, the "Company," "we," "us," or "our") was incorporated under the general corporation laws of the State of Maryland on January 27, 2012. We have elected to be treated as a real estate investment trust ("REIT") as defined under Subchapter M of the Internal Revenue Code of 1986, as amended (the "Code"). We are authorized to issue 100,000,000 shares, of which (i) 80,000,000 are designated as common stock, with a $ 0.0001 par value per share; and (ii) 20,000,000 are designated as preferred stock, with a $ 0.0001 par value per share. We commenced our operations on February 28, 2013, and our fiscal year-end is June 30. We filed our initial registration statement in June 2012 with the Securities and Exchange Commission ("SEC") to register the initial public offering of 5,000,000 shares of our common stock. The initial public offering commenced in January 2014 and concluded in October 2016. We filed a second registration statement with the SEC to register a subsequent public offering of 15,000,000 shares of our common stock. The second offering commenced in December 2016 and concluded on October 28, 2019. We filed a third registration statement with the SEC to register a public offering of 15,000,000 shares of our common stock that was declared effective by the SEC on October 31, 2019. The third offering commenced shortly thereafter and expired on October 31, 2020. On April 29, 2024, o ur common stock became eligible for trading on the OTCQX Best Market under the ticker symbol of MKZR. In addition, on November 6, 2024, Nasdaq approved the listing of the Company's common stock, and trading commenced on November 11, 2024. We are externally managed by MacKenzie Capital Management, LP ("MacKenzie") under a turnkey administration agreemen