Core Viewpoint - Mackenzie Realty Capital, Inc. has established a new entity, MacKenzie Apartment Communities, Inc., focused on multi-family properties on the West Coast, which is currently wholly owned by MKZR [1][3]. Group 1: Company Structure and Valuation - As of January 1, 2026, MKZR has contributed its multi-family assets and development property to MAC, which is a stand-alone company [1]. - The Net Asset Value (NAV) of MAC has been determined to be $18.10 per share, based on appraisals and construction costs, with a potential range from $16.46 to $19.95 per share [2]. - The current portfolio of MAC includes 4 stabilized properties and one development project, with the newly constructed Aurora at Green Valley yet to be appraised [2]. Group 2: Future Opportunities and Strategy - The CEO of MKZR expressed excitement about the launch of MAC, highlighting options such as raising funds specifically for multi-family assets, merging with another multi-family focused REIT, or spinning off MAC shares to MKZR shareholders on a 1:1 basis [3]. - MAC is noted to have a clean balance sheet and favorable market conditions, indicating a positive outlook for its future [3]. Group 3: Company Background - MacKenzie Realty Capital, founded in 2013, is a West Coast-focused REIT aiming to invest at least 80% of its total assets in real property, with a portfolio that includes 50% multi-family and 50% boutique class A office properties [3].