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MacKenzie Realty Capital Completes The Refinancing of Loan for the Main Street West Property
ORINDA, Calif., June 11, 2025 (GLOBE NEWSWIRE) -- MacKenzie Realty Capital, Inc. (Nasdaq: MKZR) (“MacKenzie” or the “Company”) is pleased to announce the successful refinancing of the Main Street West property in Napa, CA. The refinancing was completed with EverTrust Bank for approximately $9.5 million, a term for 3 years with a current interest rate of 7.5% (Prime). The Main Street West property is 40,000 square feet with retail and professional suites located at 1250 Main Street in downtown Na
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., June 11, 2025 (GLOBE NEWSWIRE) -- MacKenzie Realty Capital, Inc. (Nasdaq: MKZR) (“MacKenzie” or the “Company”) is pleased to announce the successful refinancing of the Main Street West property in Napa, CA. The refinancing was completed with EverTrust Bank for approximately $9.5 million, a term for 3 years with a current interest rate of 7.5% (Prime). The Main Street West property is 40,000 square feet with retail and professional suites located at 1250 Main Street in downtown Napa.","length":520,"tagName":"p"},{"type":"text","content":"Robert Dixon, CEO and President of MacKenzie Realty Capital, said, "Despite many challenges in the current commercial real estate financing market, we continue to see lender appetite for well-located properties in solid markets. These complex transactions highlight the importance of long-term trusted lending relationships. EverTrust’s deep in-house knowledge in structuring commercial real estate financing facilities has enabled us to close on a term sheet and underscores our proactive approach to managing our balance sheet and our dedication to driving long-term growth.”","length":582,"tagName":"p"},{"type":"text","content":"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 Company has paid a dividend every year since inception. The current portfolio includes interests in 4 multifamily properties and 8 office properties plus 2 multifamily developments.","length":547,"tagName":"p"},{"type":"text","content"...