MacKenzie Realty Capital Completes The Refinancing of Loan for the Main Street West Property

Yahoo

11-06-2025

ORINDA, Calif., June 11, 2025 (GLOBE NEWSWIRE) -- MacKenzie Realty Capital, Inc. (Nasdaq: MKZR) ('MacKenzie' or the 'Company') is pleased to announce the successful refinancing of the Main Street West property in Napa, CA. The refinancing was completed with EverTrust Bank for approximately $9.5 million, a term for 3 years with a current interest rate of 7.5% (Prime). The Main Street West property is 40,000 square feet with retail and professional suites located at 1250 Main Street in downtown Napa.
Robert Dixon, CEO and President of MacKenzie Realty Capital, said, "Despite many challenges in the current commercial real estate financing market, we continue to see lender appetite for well-located properties in solid markets. These complex transactions highlight the importance of long-term trusted lending relationships. EverTrust's deep in-house knowledge in structuring commercial real estate financing facilities has enabled us to close on a term sheet and underscores our proactive approach to managing our balance sheet and our dedication to driving long-term growth.'
About MacKenzie Realty Capital, Inc.MacKenzie, founded in 2013, is a West Coast-focused REIT that intends to invest at least 80% of its total assets in real property, and up to a maximum of 20% of its total assets in illiquid real estate securities. We intend for the real property portfolio to be approximately 50% multifamily and 50% boutique class A office. The Company has paid a dividend every year since inception. The current portfolio includes interests in 4 multifamily properties and 8 office properties plus 2 multifamily developments.
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