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

Rhea-AI Filing Summary

Christine Elizabeth Simpson, identified as Chief Portfolio Manager, filed a Form 4 reporting multiple purchases of MacKenzie Realty Capital, Inc. (MKZR) common stock on 10/02/2025 and 10/03/2025. The transactions show purchases of a total of 15,000 shares executed at prices between $5.00 and $5.10, recorded in increments that raised reported indirect beneficial ownership via MacKenzie Real Estate Advisers, LP to 86,855 shares. The filing also lists 5,569 shares held indirectly by MPF Successors, LP and a separate 250 share disposition. The Form 4 was signed by an attorney-in-fact on behalf of the reporting person.

Positive

• Insider purchases reported totaling 15,000 shares at prices between $5.00 and $5.10
• Increased reported indirect ownership via MacKenzie Real Estate Advisers to 86,855 shares
• Transactions executed over two days (10/02/2025–10/03/2025) showing active accumulation

Negative

• Holdings reported as indirect, with a disclaimer limiting claimed beneficial ownership to pecuniary interest
• Small disposition of 250 shares was recorded, reducing a separate direct/indirect balance
• No direct personal purchases are reported, which limits inference about the reporting person's personal conviction

Insights

Corporate Governance Analyst

TL;DR: Large insider purchases reported indirectly via adviser vehicles, signaling manager-aligned buying.

The reporting person is disclosed as Chief Portfolio Manager and the transactions were effected through two adviser-related entities, MacKenzie Real Estate Advisers, LP and MPF Successors, LP. The records show incremental purchases on 10/02/2025 and 10/03/2025 totaling 15,000 shares at prices from $5.00 to $5.10, with beneficial ownership balances reported as 86,855 shares (MREA) and 5,569 shares (MPF).

Because the holdings are reported as indirect, this reflects ownership through managed vehicles rather than direct personal holdings; the filing explicitly disclaims direct beneficial ownership beyond any pecuniary interest. Watch filings over the next quarter for conversion of indirect to direct holdings or further activity that would clarify the insider's personal stake and timing of purchases.

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^*

Simpson Christine Elizabeth

(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)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Chief Portfolio Manager

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)
MacKenzie Realty Capital Inc. Common Stock								250	D

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 Christine Simpson	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 transactions did MKZR insider Christine Simpson report on the Form 4?

The Form 4 reports purchases totaling 15,000 shares of MKZR on 10/02/2025 and 10/03/2025 at prices between $5.00 and $5.10, plus a 250 share disposition.

Were the MKZR shares acquired directly by Christine Simpson?

No. The filing shows the shares were acquired indirectly through MacKenzie Real Estate Advisers, LP and MPF Successors, LP, and the filer disclaims direct beneficial ownership beyond any pecuniary interest.

How many MKZR shares does the filing report as beneficially owned after these transactions?

The filing shows reported indirect beneficial ownership of 86,855 shares via MacKenzie Real Estate Advisers and 5,569 shares via MPF Successors, LP, alongside a 250 share disposition.

What prices were paid for the MKZR purchases?

Reported purchase prices ranged from $5.00 to $5.10 per share across the transactions.

Who signed the Form 4 on behalf of the reporting person?

The Form 4 was signed by Jeri Bluth, as attorney-in-fact for Christine Simpson, with a signature date of 10/06/2025.