Small California REIT initiates strategic review

Group 1 - MacKenzie Realty Capital, a West Coast-focused REIT founded in 2013, aims to invest at least 80% of its total assets in real property and up to 20% in illiquid real estate securities, with a portfolio target of 50% multifamily and 50% boutique class properties [3] - The REIT is currently trading at a discount to its assets, similar to larger publicly traded companies in the sector [3] - MacKenzie has initiated a strategic review of its multifamily portfolio to enhance shareholder value, believing that the net asset value of its multifamily portfolio exceeds its market capitalization [8] Group 2 - Centerspace, which owns over 12,000 units, has begun a review of its strategic alternatives, considering options such as a sale or merger, although no assurance of a transaction has been provided [4][5] - Aimco is in the process of marketing and selling its remaining assets, having recently contracted to sell a seven-property portfolio in Chicago for $455 million [6] - Elme Communities has taken steps toward liquidation by selling a 19-asset portfolio for $1.6 billion in cash [7]