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Stock impact report

Small California REIT initiates strategic review [Yahoo! Finance]

D/B/A Centerspace (CSR) 
Company Research Source: Yahoo! Finance
Like some of its larger peers, small REIT MacKenzie Realty Capital has initiated a strategic review of its multifamily portfolio to enhance shareholder value, according to a Dec. 12 news release. “We believe the net asset value of our multifamily portfolio alone greatly exceeds our market capitalization,” Robert Dixon, CEO and president of MacKenzie, said in the release. “We are evaluating options with the goal of getting our share price to more closely reflect the intrinsic value of our assets.” The Orinda, California-based firm has five multifamily properties and one development site. It also owns eight office properties. MacKenzie didn't reply to a request for comment from Multifamily Dive. MacKenzie, founded in 2013, is a West Coast-focused REIT that aims to invest at least 80% of its total assets in real property and up to 20% in illiquid real estate securities. The firm intends for the real property portfolio to be approximately 50% multifamily and 50% boutique class. T Show less Read more
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