MacKenzie Realty Capital Business Summary

MacKenzie Realty Capital, Inc. (MKZR) is a West Coast-focused Real Estate Investment Trust (REIT) that generates revenue through two primary business segments: income-producing real property and discounted real estate securities. The company’s core strategy involves allocating at least 80% of its assets to a real property portfolio—historically split between multifamily residential units and boutique Class A office spaces—while investing up to 20% in illiquid, non-traded REIT securities often acquired at deep discounts to Net Asset Value (NAV). As of January 1, 2026, the company executed a significant strategic reorganization by contributing its multifamily assets into a new, wholly-owned subsidiary, MacKenzie Apartment Communities, Inc. (MAC), to enhance shareholder value and provide a dedicated vehicle for residential development. MKZR competes primarily with other small-cap and diversified REITs such as Presidio Property Trust (SQFT), Highlands REIT (HHDS), and Generation Income Properties (GIPR), positioning itself as a niche value player that leverages specialized expertise in secondary market liquidity and West Coast asset management. The company is led by a seasoned executive team with deep roots in the MacKenzie Capital Management ecosystem, which was originally founded in 1982 by C.E. "Pat" Patterson and Berniece Patterson. Current leadership includes CEO and President Robert E. Dixon, a CFA and Cornell MBA who has headed the REIT since its 2012 inception and previously held roles at Lehman Brothers and Sutter Capital Management. He is supported by CFO Angche Sherpa, a CPA and former Moss Adams auditor who took the role in 2021, and COO Glen W. Fuller, who has been with the MacKenzie organization since 2000. The Board of Directors, chaired by General Counsel Charles "Chip" Patterson, includes recently re-elected members Thomas Frame, Timothy Dozois, and Kjerstin Hatch. Notable institutional backing for the firm includes positions from Armistice Capital LLC, Legacy Investment Solutions LLC, and Centaurus Financial Inc., reflecting continued interest from specialized value and income-oriented investors.