Robert E. Dixon, who serves as CEO and President of MacKenzie Realty Capital, Inc. (OTC:MKZR), made a personal purchase of 5,000 common shares on February 24, 2026, at a price of $3.64 per share. The transaction was valued at $18,200. Following this acquisition, Dixon directly holds 44,241 shares of the company.
Beyond Dixon’s direct ownership, the filing indicates additional indirect positions tied to affiliated entities. Dixon is reported to hold 86,855 shares indirectly through MacKenzie Real Estate Advisers, LP, and 5,569 shares indirectly through MPF Successors, LP.
Concurrently with the insider purchase, MacKenzie Realty Capital disclosed several corporate financing and structural moves. The company entered into a secured promissory note agreement for $1.64 million with Streeterville Capital, LLC. That note is being issued under an existing Note Purchase Agreement that authorizes the company to issue secured promissory notes up to a cumulative amount of $3.27 million.
MacKenzie Realty Capital also modified its Equity Distribution Agreement with Maxim Group LLC. The amendment permits the company to offer and sell up to $20 million of its common stock through an at-the-market offering program. The amended arrangement specifies that the agreement will terminate upon the sale of all shares, by mutual termination upon notice, or on July 15, 2027.
On the operating side, the company has reorganized its multifamily real estate assets by placing them into a newly formed entity, MacKenzie Apartment Communities, Inc. (MAC). MacKenzie Realty Capital owns 100% of MAC. According to the disclosure, MAC’s portfolio comprises four stabilized properties and one development project and is focused on developing and owning multifamily properties on the West Coast.
Finally, the board approved an amendment to the Advisory Management Agreement with MacKenzie Real Estate Advisers, LP. The revised terms set a Base Management Fee equal to 1.25% of gross assets and add a Bonus Management Fee equal to 5% of adjusted funds from operations on a quarterly basis.
Clear summary: CEO Robert E. Dixon purchased 5,000 shares at $3.64 each on February 24, 2026, raising his direct stake to 44,241 shares. The company secured a $1.64 million promissory note under a broader note purchase program, amended an equity distribution agreement to enable up to $20 million in ATM sales, consolidated multifamily assets into MacKenzie Apartment Communities (100% owned, four stabilized properties and one development), and revised its advisory fee structure to include a 1.25% base fee and a 5% quarterly bonus fee tied to adjusted FFO.
Key points:
- Insider purchase: CEO bought 5,000 shares for $18,200 on February 24, 2026; direct ownership is now 44,241 shares. (Sector impact: corporate governance and investor signals.)
- Financing activity: $1.64 million secured promissory note issued under a Note Purchase Agreement with capacity up to $3.27 million. (Sector impact: corporate finance and credit markets.)
- Capital markets program: Amended Equity Distribution Agreement with Maxim Group LLC enabling up to $20 million of ATM common stock sales through July 15, 2027, or earlier under specified termination conditions. (Sector impact: equity issuance and market supply.)
Risks and uncertainties:
- Equity dilution risk associated with the up-to-$20 million at-the-market offering could affect existing shareholders if shares are sold into the market. (Affected sector: equity markets and shareholder value.)
- Reliance on debt under the Note Purchase Agreement - the company has capacity to issue additional secured promissory notes up to $3.27 million, which could increase leverage. (Affected sector: corporate credit and balance-sheet management.)
- Operational and development risk tied to the four stabilized properties and one development project now held in MacKenzie Apartment Communities, Inc., which concentrates multifamily exposure on the West Coast. (Affected sector: commercial real estate and property development.)