[Form 4] MacKenzie Realty Capital, Inc. Insider Trading Activity

Rhea-AI Filing Summary

MacKenzie Realty Capital, Inc. (MKZR) director and general counsel Charles E. Patterson II reported multiple open-market purchases of common stock on 10/02/2025 and 10/03/2025. The filings show incremental acquisitions of 4,000, 4,000, 4,000, 2,000 and 1,000 shares at prices ranging from $5.00 to $5.10, increasing reported indirect beneficial ownership to 86,855 shares following the final reported trade. The report notes these shares are held indirectly through advisory vehicles — MacKenzie Real Estate Advisers, LP and MPF Successors, LP — and the filer disclaims direct beneficial ownership except to the extent of his pecuniary interest. The form is signed by an attorney-in-fact on behalf of Mr. Patterson.

Positive

• Material insider buying: multiple purchases totaling 15,000 shares at $5.00–$5.10
• Increased reported beneficial ownership to 86,855 shares, indicating larger adviser-level holdings

Negative

• Indirect ownership structure through MacKenzie Real Estate Advisers, LP and MPF Successors, LP limits clarity on direct control
• No direct purchase disclosure by the individual — the filer disclaims beneficial ownership except for pecuniary interest

Insights

Corporate Governance Analyst

Insider purchases signal management-level buying, held indirectly through adviser entities.

The reporter is both a director and the company's general counsel/secretary, and the transactions are recorded as purchases of common stock on 10/02/2025 and 10/03/2025. The shares are reported as held indirectly via MacKenzie Real Estate Advisers, LP and MPF Successors, LP, which affects how control and voting influence are interpreted.

Watch short-term patterns in subsequent filings over the next quarter to see if indirect holdings are converted to direct holdings or if similar purchases continue, which could change governance dynamics.

Insider Transactions Analyst

Reported open-market buys total 15,000 shares at roughly $5.00–$5.10 per share.

The table lists acquisitions of 4,000, 4,000, 4,000, 2,000 and 1,000 shares with prices between $5.00 and $5.10, moving reported beneficial ownership to 86,855 shares after the final trade. Transactions were reported on two consecutive dates, indicating clustered purchasing activity.

Monitor upcoming Form 4s for any exercises, sales, or further purchases and compare reported prices to market quotes on 10/02/2025 and 10/03/2025 to assess execution context within the next 30 days.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

PATTERSON CHARLES E. II

(Last) (First) (Middle)

89 DAVIS ROAD STE 100

(Street)

ORINDA CA 94563

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
MacKenzie Realty Capital, Inc. [ MKZR ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	General Counsel/Secretary

3. Date of Earliest Transaction (Month/Day/Year)
10/02/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
MacKenzie Realty Capital Inc. Common Stock	10/02/2025		P		4,000	A	$5.1	75,855	I	By MacKenzie Real Estate Advisers, LP(1)
MacKenzie Realty Capital Inc. Common Stock	10/02/2025		P		4,000	A	$5.05	79,855	I	By MacKenzie Real Estate Advisers, LP(1)
MacKenzie Realty Capital Inc. Common Stock	10/02/2025		P		4,000	A	$5	83,855	I	By MacKenzie Real Estate Advisers, LP(1)
MacKenzie Realty Capital Inc. Common Stock	10/02/2025		P		2,000	A	$5.09	85,855	I	By MacKenzie Real Estate Advisers, LP(1)
MacKenzie Realty Capital Inc. Common Stock	10/03/2025		P		1,000	A	$5.1	86,855	I	By MacKenzie Real Estate Advisers, LP(1)
MacKenzie Realty Capital Inc. Common Stock								5,569	I	By MPF Successors, LP(2)

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. MacKenzie Real Estate Advisers, LP ("MREA") acquired shares of MacKenzie Realty Capital, Inc. ("MRC"). The filer owns an interest in MREA and therefore could be deemed to beneficially own the MRC shares acquired by MREA, but disclaims beneficial ownership of the securities referred to herein except to the extent of the filer's pecuniary interest in such securities.

2. MPF Successors, LP ("MPF") acquired shares of MacKenzie Realty Capital, Inc. ("MRC"). The filer owns an interest in MPF and therefore could be deemed to beneficially own the MRC shares acquired by MPF, but disclaims beneficial ownership of the securities referred to herein except to the extent of the filer's pecuniary interest in such securities.

	/s/ Jeri Bluth, as attorney-in-fact for Charles E. Patterson II	10/06/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What did the MKZR Form 4 filed for Charles E. Patterson II report?

It reported multiple purchases totaling 15,000 shares on 10/02/2025–10/03/2025 at prices between $5.00 and $5.10, increasing reported beneficial ownership to 86,855 shares.

Are the shares owned directly by Charles E. Patterson II on the MKZR filing?

No. The filing states the shares are held indirectly by MacKenzie Real Estate Advisers, LP and MPF Successors, LP, and the filer disclaims direct beneficial ownership except to the extent of his pecuniary interest.

What prices were paid for the MKZR shares in the reported transactions?

Reported transaction prices ranged from $5.00 to $5.10 per share.

When were the MKZR transactions executed according to the Form 4?

The transactions are dated 10/02/2025 and 10/03/2025.

Who signed the Form 4 for Charles E. Patterson II?

The form was signed by Jeri Bluth, as attorney-in-fact for Charles E. Patterson II on 10/06/2025.