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Mackenzie Realty Capital Announces the Creation of Mackenzie Apartment Communities, Inc. as a Stand-alone Company
ORINDA, Calif., Jan. 08, 2026 (GLOBE NEWSWIRE) -- Mackenzie Realty Capital, Inc. (“MKZR”) today announced that as of January 1, 2026, its multi-family assets and development property have been contributed to a newly created entity, MacKenzie Apartment Communities, Inc. (“MAC”). MAC is a separate, stand-alone company focused on developing and owning multi-family properties on the West Coast. MAC is currently 100% owned by MKZR. The 4 stabilized properties and one development project now owned by
About this update from Mackenzie Realty Capital, Inc.
[{"type":"image","alt":"MacKenzie Capital Management, LP","displaySize":"","headline":null,"caption":"MacKenzie Capital Management, LP","className":"","disableSlideshowImg":false,"size":{"original":{"width":267,"height":121,"url":"https://media.zenfs.com/en/globenewswire.com/3adfb30815226313598dbebf1acddedb"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/gPkO04qy3qg.Fv_OJimT7Q--/YXBwaWQ9aGlnaGxhbmRlcjt3PTQyMDtoPTE5MDtjZj13ZWJw/https://media.zenfs.com/en/globenewswire.com/3adfb30815226313598dbebf1acddedb","width":267,"height":121}},"lazy":false},{"type":"text","content":"ORINDA, Calif., Jan. 08, 2026 (GLOBE NEWSWIRE) -- Mackenzie Realty Capital, Inc. (“MKZR”) today announced that as of January 1, 2026, its multi-family assets and development property have been contributed to a newly created entity, MacKenzie Apartment Communities, Inc. (“MAC”). MAC is a separate, stand-alone company focused on developing and owning multi-family properties on the West Coast. MAC is currently 100% owned by MKZR. ","length":443,"tagName":"p"},{"type":"text","content":"The 4 stabilized properties and one development project now owned by MAC were last appraised as of March 31, 2025. The newly constructed Aurora at Green Valley has not been appraised yet. Using the appraised values determined by appraisals plus the total construction cost of Aurora, the MAC Board determined a Net Asset Value (“NAV”) of MAC of $18.10 per share. The MAC Board has adopted $18.10 per share as the initial NAV. The appraisals determined a high, a low, and a fair value conclusion for each of the 4 properties; it is worth noting that the NAV could range from a low of $16.46 per share to a high of $19.95 per share using those estimates, but the MAC Board used the fair value conclusion (somewhere in the middle of the range) for each of the appraisals.","length":780,"tagName":"p"},{"type":"text","content":"Robert Dixon, CEO of MKZR stated “We are extremely excited about the launch of MacKenzie Apartment Communities. With this vehicle we have several new options. We could raise money specifically for multi-family assets only; we could merge MAC with another multi-family focused REIT, or we could spin-off the MAC shares to our MKZR shareholders on a 1:1 basis. MAC has a very clean balance sheet and lot of tailwinds, and we are excited about its future.”","lengt...