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

Rhea-AI Filing Summary

Glen W. Fuller, an officer listed as Treasurer, reported multiple purchases of MacKenzie Realty Capital, Inc. common stock on 10/02/2025 and 10/03/2025. The Form 4 shows repeated purchase transactions coded P at prices of $5.10, $5.05, $5.00, and $5.09, and $5.10 for individual lots. Following the reported transactions, the filing lists 86,855 shares beneficially owned indirectly through MacKenzie Real Estate Advisers, LP and 5,569 shares indirectly held by MPF Successors, LP. The filer disclaims direct beneficial ownership except to the extent of a pecuniary interest in those limited partnership holdings.

Positive

• Repeated purchases at similar prices ($5.00–$5.10) indicate sustained buying activity
• Disclosure of indirect ownership via MacKenzie Real Estate Advisers, LP and MPF Successors, LP provides transparency on beneficial position

Negative

• None.

Insights

Corporate Governance Analyst

Insider purchases increased indirect holdings via adviser and successor LPs over two days.

The reporting person executed a sequence of purchases on 10/02/2025 and 10/03/2025 at prices around $5.00–$5.10, with the filing showing 86,855 shares held indirectly through MacKenzie Real Estate Advisers, LP and 5,569 shares via MPF Successors, LP. The document clarifies the purchases were made by those entities and the filer only claims a pecuniary interest.

The primary dependency for interpreting significance is whether these indirect holdings change control or represent a material ownership threshold; the form does not state percentage ownership or total outstanding shares. Watch for any subsequent filings that disclose percent ownership or additional purchases in the near term.

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
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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^*

FULLER GLEN W

(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)
	Treasurer

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 Glen Fuller	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 Glen W. Fuller report on Form 4 for MKZR?

The filing reports multiple purchases on 10/02/2025 and 10/03/2025 coded P with prices of $5.10, $5.05, $5.00, $5.09, and $5.10.

How many MKZR shares does the Form 4 show as beneficially owned indirectly?

The filing states 86,855 shares indirectly held by MacKenzie Real Estate Advisers, LP and 5,569 shares indirectly held by MPF Successors, LP.

Does Glen W. Fuller claim direct ownership of the reported MKZR shares?

No. The filer disclaims direct beneficial ownership and states ownership is via interests in the named limited partnerships, except to the extent of a pecuniary interest.

Were any derivatives reported in this Form 4 for MKZR?

No derivative securities are reported; Table II is present but shows no entries for derivative transactions.

Who signed the Form 4 and when was it signed?

The form is signed by Jeri Bluth as attorney-in-fact for Glen Fuller on 10/06/2025.