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News  ›  GlobeNewswire Inc.

Mackenzie Realty Capital Announces the Creation of Mackenzie Apartment Communities, Inc. as a Stand-alone Company

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Mackenzie Realty Capital Announces the Creation of Mackenzie Apartment Communities, Inc. as a Stand-alone Company

Mackenzie Realty Capital (MKZR) has created MacKenzie Apartment Communities, Inc. (MAC) as a standalone entity to house its multi-family assets and development properties. MAC, 100% owned by MKZR, comprises 4 stabilized properties and one development project with an initial Net Asset Value of $18.10 per share. The company plans to explore strategic options including fundraising, merger with another REIT, or a 1:1 spin-off to MKZR shareholders.

Insights
MKZR   positive

The creation of MAC as a standalone entity with a clean balance sheet and multiple strategic options (fundraising, merger, or spin-off) demonstrates proactive portfolio management and unlocking of value. CEO's optimistic tone about 'tailwinds' and future prospects supports positive sentiment.