Mackenzie Realty Capital Inc.

05/18/2026 | Press release | Distributed by Public on 05/18/2026 09:59

Amendment to Current Report (Form 8-K/A)

NEWS RELEASE
FOR IMMEDIATE RELEASE
MacKenzie Realty Capital Reports Third Quarter 2026 Financial Results and Stabilization of Development
Orinda, Calif., (May 15, 2026) - MacKenzie Realty Capital, Inc. (Nasdaq: MKZR) ("MacKenzie" or the "Company") today announced its financial results for the fiscal quarter ended March 31, 2026, and announced its Aurora at Green Valley is now stabilized and over 90% leased.
Key Financial Highlights:
Operating Results for the Quarter Ended March 31, 2026:
  • Net revenues for quarter ended March 31, 2026, were $5.4 million, an increase of 27% from $4.3 million in the same period of 2025.
  • Net operating loss was $2.5 million, as compared to a net operating loss of $5.8 million in the same period of 2025, a 57% reduction.
  • Net loss was $1.0 million, compared to a $6.1 million loss in the same period of 2025, an 84% reduction.
  • The Company had a positive $308,040 of funds from operations ("FFO") for the quarter compared to negative $3.2 million in the same period of 2025. The net loss of $1.0 million was offset by $2.1 million in depreciation expense, and $0.8 million of unrealized gains from investments.
  • Further, adding back straight-line rent adjustments, amortization of below market lease rent, amortization of loan fees, and mark-to-market debt adjustments, the adjusted FFO ("AFFO") was a positive $537,514 for the fiscal quarter compared to negative $2.3 million for the same period in 2025.
  • Aurora at Green Valley is now stabilized and over 90% leased.
  • As reported on March 6, 2026, the Company borrowed $1 million from Streeterville Capital ("Streeterville") to purchase 219,959.104 shares of CNL Healthcare Properties, Inc. for $1,000,814 in advance of a merger with Sonida Senior Living ("SNDA"). The merger closed on schedule and we received a total of $1,562,125 in cash and shares which we sold for a profit of $521,718. We paid down the loan to Streeterville.
Robert Dixon, CEO and President of MacKenzie Realty Capital, stated, "The quarterly results were in line with our internal expectations, and we are pleased with return to FFO profitability. We remain focused on successfully executing our growth initiatives while maintaining financial discipline which we believe will deliver sustained value creation over the long term."
"We are particularly pleased that our revenues continue to grow and that we have returned to FFO and AFFO profitability" concluded Mr. Dixon.
Non-GAAP Financial Measures
Reconciliations, definitions and important discussions regarding the usefulness and limitations of FFO and AFFO, the Non-GAAP Financial Measures used in this release, can be found below.
About MacKenzie Realty Capital, Inc.
MacKenzie, founded in 2013, is a West Coast-focused REIT that intends to invest at least 80% of its total assets in real property, and up to a maximum of 20% of its total assets in illiquid real estate securities. We intend for the real property portfolio to be approximately 50% multifamily and 50% boutique class A office. The current portfolio includes interests in 5 multifamily properties and 8 office properties plus 1 multifamily development.
For more information, please contact MacKenzie at (800) 854-8357. Please visit our website at: http://www.mackenzierealty.com
Mackenzie Realty Capital Inc. published this content on May 18, 2026, and is solely responsible for the information contained herein. Distributed via EDGAR on May 18, 2026 at 15:59 UTC. If you believe the information included in the content is inaccurate or outdated and requires editing or removal, please contact us at [email protected]