[[{“value”:”
**MacKenzie Realty Spins Off Apartment Properties into New Standalone Company**
Orinda-based MacKenzie Realty Capital, Inc. (MKZR) has announced the transfer of its multifamily assets and a development property into a newly created entity, MacKenzie Apartment Communities, Inc. (MAC). This newly formed company will operate independently and focus solely on the development and ownership of multifamily properties along the West Coast. Currently, MAC is fully owned by MKZR.
The portfolio transferred to MAC includes four stabilized multifamily properties and one development project. These properties were last appraised as of March 31, 2025. The newly completed Aurora at Green Valley, located in Fairfield, has not yet been appraised. Based on the combined values from these appraisals and the construction cost of Aurora, the MAC board has determined a net asset value (NAV) of $18.10 per share.
Robert Dixon, CEO of MKZR, commented on the strategic move, stating, “With this vehicle, we have several new options. We could raise money specifically for multifamily assets only; we could merge MAC with another multifamily-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 a lot of tailwinds, and we are excited about its future.”
The formation of MAC marks a significant step in MKZR’s efforts to structure its business around specialized asset classes, allowing for more targeted investment and growth opportunities in the multifamily market.
“}]]
