10-K/A Filing

MACKENZIE REALTY CAPITAL, INC. CIK: 1550913 FY 2021

Filing Information

Form Type	10-K/A
Accession Number	`0001140361-21-038993`
Period End Date	20210630
Filing Date	20211123
Fiscal Year	2021
Fiscal Period	FY
XBRL Instance	mrc-20210630.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 46 Income Statement 53 Cash Flow Statement 66 Stockholders Equity 17

Balance Sheet 46 line items

Line Item	Tag	Value	Unit	Period
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	80.00M	shares	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	80.00M	shares	Point-in-time
Land	`Land`	$16.29M	USD	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	13.32M	shares	Point-in-time
Building, fixtures and improvements	`BuildingsAndImprovementsGross`	$38.35M	USD	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	12.84M	shares	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	13.32M	shares	Point-in-time
Intangible lease assets	`OperatingLeaseRightOfUseAsset`	$5.59M	USD	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	12.84M	shares	Point-in-time
Less: accumulated depreciation and amortization	`RealEstateInvestmentPropertyAccumulatedDepreciation`	$2.26M	USD	Point-in-time
Total real estate assets, net	`RealEstateInvestmentPropertyNet`	$30.20M	USD	Point-in-time
Total real estate assets, net	`RealEstateInvestmentPropertyNet`	$57.97M	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$4.83M	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$8.96M	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$12.54M	USD	Point-in-time
Restricted cash	`RestrictedCash`	$1.61M	USD	Point-in-time
Restricted cash	`RestrictedCash`	$2.92M	USD	Point-in-time
Investments, at fair value	`InvestmentOwnedSecurityAtFairValue`	$39.91M	USD	Point-in-time
Unconsolidated investments (non-securities), at fair value	`UnconsolidatedInvestmentNonSecurityAtFairValue`	$30.60M	USD	Point-in-time
Investments income, rent and other receivables	`InvestmentIncomeRentAndOtherReceivable`	$1.99M	USD	Point-in-time
Prepaid expenses and other assets	`PrepaidExpenseAndOtherAssets`	$332.27K	USD	Point-in-time
Total assets	`Assets`	$138.55M	USD	Point-in-time
Total assets	`Assets`	$104.17M	USD	Point-in-time
Mortgage notes payable	`NotesPayable`	$23.97M	USD	Point-in-time
Mortgage notes payable	`NotesPayable`	$38.69M	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent`	$918.45K	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent`	$135.04K	USD	Point-in-time
Below-market lease liabilities, net	`BelowMarketLeaseNet`	$838.31K	USD	Point-in-time
Deferred rent and other liabilities	`DeferredRentCreditAndOtherLiabilities`	$738.18K	USD	Point-in-time
Due to related entities	`DueToRelatedPartiesCurrentAndNoncurrent`	$1.94K	USD	Point-in-time
Due to related entities	`DueToRelatedPartiesCurrentAndNoncurrent`	$718.26K	USD	Point-in-time
Total liabilities	`Liabilities`	$41.19M	USD	Point-in-time
Total liabilities	`Liabilities`	$941.04K	USD	Point-in-time
Common stock, $0.0001 par value, 80,000,000 shares authorized; 13,316,426.79 shares issued and outstanding	`CommonStockValue`	$1.33K	USD	Point-in-time
Common stock, $0.0001 par value, 80,000,000 shares authorized; 13,316,426.79 shares issued and outstanding	`CommonStockValue`	$1.28K	USD	Point-in-time
Capital in excess of par value	`TemporaryEquityValueExcludingAdditionalPaidInCapital`	$116.46M	USD	Point-in-time
Capital in excess of par value	`TemporaryEquityValueExcludingAdditionalPaidInCapital`	$120.41M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-23.30M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$97.11M	USD	Point-in-time
Non-controlling interests	`MembersEquityAttributableToNoncontrollingInterest`	$251.84K	USD	Point-in-time
Total equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$97.78M	USD	Point-in-time
Total equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$97.36M	USD	Point-in-time
Total liabilities and equity	`LiabilitiesAndStockholdersEquity`	$104.17M	USD	Point-in-time
Total liabilities and equity	`LiabilitiesAndStockholdersEquity`	$138.55M	USD	Point-in-time

Income Statement 53 line items

Line Item	Tag	Value	Unit	Period
Rental and reimbursements	`RevenueFromContractWithCustomerExcludingAssessedTax`	$3.75M	USD	2 Qtrs
Property operating and maintenance	`PropertyRepairsAndMaintenanceExpense`	$2.33M	USD	2 Qtrs
Depreciation and amortization	`DepreciationAndAmortization`	$2.19M	USD	2 Qtrs
Asset management fees to related party (note 6)	`AssetsManagementFeeExpense`	-	USD	Annual
Asset management fees to related party (note 6)	`AssetsManagementFeeExpense`	-	USD	Annual
Asset management fees to related party (note 6)	`AssetsManagementFeeExpense`	$1.35M	USD	2 Qtrs
Asset management fees to related party (note 6)	`AssetsManagementFeeExpense`	-	USD	2 Qtrs
Interest expense	`InterestExpense`	$637.69K	USD	2 Qtrs
Administrative cost reimbursements to related party (note 6)	`AdministrativeFeesExpense`	$310.40K	USD	2 Qtrs
Administrative cost reimbursements to related party (note 6)	`AdministrativeFeesExpense`	$680.00K	USD	Annual
Administrative cost reimbursements to related party (note 6)	`AdministrativeFeesExpense`	$310.40K	USD	2 Qtrs
Administrative cost reimbursements to related party (note 6)	`AdministrativeFeesExpense`	$570.67K	USD	Annual
General and administrative	`GeneralAndAdministrativeExpense`	$139.33K	USD	2 Qtrs
Professional fees	`ProfessionalFees`	$145.11K	USD	Annual
Professional fees	`ProfessionalFees`	$136.75K	USD	2 Qtrs
Professional fees	`ProfessionalFees`	$235.13K	USD	2 Qtrs
Professional fees	`ProfessionalFees`	$263.87K	USD	Annual
Transfer agent cost reimbursements to related party (note 6)	`NoninterestExpenseTransferAgentAndCustodianFees`	$61.60K	USD	2 Qtrs
Transfer agent cost reimbursements to related party (note 6)	`NoninterestExpenseTransferAgentAndCustodianFees`	$61.60K	USD	2 Qtrs
Transfer agent cost reimbursements to related party (note 6)	`NoninterestExpenseTransferAgentAndCustodianFees`	$80.00K	USD	Annual
Transfer agent cost reimbursements to related party (note 6)	`NoninterestExpenseTransferAgentAndCustodianFees`	$23.33K	USD	Annual
Directors' fees	`NoninterestExpenseDirectorsFees`	$36.00K	USD	2 Qtrs
Directors' fees	`NoninterestExpenseDirectorsFees`	$68.00K	USD	Annual
Directors' fees	`NoninterestExpenseDirectorsFees`	$34.00K	USD	2 Qtrs
Directors' fees	`NoninterestExpenseDirectorsFees`	$64.50K	USD	Annual
Total operating expenses	`OperatingExpenses`	$2.43M	USD	2 Qtrs
Total operating expenses	`OperatingExpenses`	$6.25M	USD	Annual
Total operating expenses	`OperatingExpenses`	$5.26M	USD	Annual
Total operating expenses	`OperatingExpenses`	$7.20M	USD	2 Qtrs
Operating loss	`OperatingIncomeLoss`	$-3.45M	USD	2 Qtrs
Dividend and distribution income from equity securities at fair value	`DividendIncomeEquitySecuritiesOperating`	$925.95K	USD	2 Qtrs
Net unrealized gain on equity securities at fair value	`EquitySecuritiesFvNiUnrealizedGainLoss`	$1.69M	USD	2 Qtrs
Net income from equity method investments at fair value	`IncomeLossFromEquityMethodInvestments`	$354.92K	USD	2 Qtrs
Net realized gain from investments	`RealizedInvestmentGainsLosses`	$1.02M	USD	2 Qtrs
Net realized gain from investments	`RealizedInvestmentGainsLosses`	$737.33K	USD	2 Qtrs
Net realized gain from investments	`RealizedInvestmentGainsLosses`	$1.20M	USD	Annual
Net realized gain from investments	`RealizedInvestmentGainsLosses`	$1.80M	USD	Annual
Net income	`ProfitLoss`	$2.89M	USD	Annual
Net income	`ProfitLoss`	$-11.73M	USD	Annual
Net income	`ProfitLoss`	$249.95K	USD	2 Qtrs
Net income	`ProfitLoss`	$-9.67M	USD	2 Qtrs
Net loss attributable to non-controlling interests	`NetIncomeLossAttributableToNoncontrollingInterest`	$-14.21K	USD	2 Qtrs
Net income attributable to common stockholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$264.16K	USD	2 Qtrs
Net income per share attributable to common stockholders (in dollars per share)	`EarningsPerShareBasic`	$0.29	USD	Annual
Net income per share attributable to common stockholders (in dollars per share)	`EarningsPerShareBasic`	$0.02	USD	2 Qtrs
Net income per share attributable to common stockholders (in dollars per share)	`EarningsPerShareBasic`	$-0.74	USD	2 Qtrs
Net income per share attributable to common stockholders (in dollars per share)	`EarningsPerShareBasic`	$-0.96	USD	Annual
Weighted average common shares outstanding (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	12.20M	shares	Annual
Weighted average common shares outstanding (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	7.44M	shares	Annual
Weighted average common shares outstanding (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	13.33M	shares	2 Qtrs
Weighted average common shares outstanding (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	9.95M	shares	Annual
Weighted average common shares outstanding (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	5.18M	shares	Annual
Weighted average common shares outstanding (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	13.02M	shares	2 Qtrs

Cash Flow Statement 66 line items

Line Item	Tag	Value	Unit	Period
Net income	`ProfitLoss`	$2.89M	USD	Annual
Net income	`ProfitLoss`	$-11.73M	USD	Annual
Net income	`ProfitLoss`	$249.95K	USD	2 Qtrs
Net income	`ProfitLoss`	$-9.67M	USD	2 Qtrs
Net unrealized gain on equity securities	`EquitySecuritiesFvNiUnrealizedGainLoss`	$1.69M	USD	2 Qtrs
Net income from equity method investments at fair value	`IncomeFromEquityMethodInvestmentsAtFairValue`	$745.56K	USD	2 Qtrs
Net realized gain on investments	`RealizedInvestmentGainsLosses`	$1.02M	USD	2 Qtrs
Net realized gain on investments	`RealizedInvestmentGainsLosses`	$737.33K	USD	2 Qtrs
Net realized gain on investments	`RealizedInvestmentGainsLosses`	$1.20M	USD	Annual
Net realized gain on investments	`RealizedInvestmentGainsLosses`	$1.80M	USD	Annual
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$2.19M	USD	2 Qtrs
Accretion of market lease and other intangibles, net	`AccretionOfMarketLeaseAndOtherIntangiblesNet`	$-35.19K	USD	2 Qtrs
Investment income, rent and other receivables	`IncreaseDecreaseInInvestmentIncomeRentAndOtherReceivables`	$252.74K	USD	2 Qtrs
Investment income, rent and other receivables	`IncreaseDecreaseInInvestmentIncomeRentAndOtherReceivables`	$447.40K	USD	2 Qtrs
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-569.22K	USD	2 Qtrs
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-48.03K	USD	2 Qtrs
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-80.25K	USD	Annual
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$198.91K	USD	Annual
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$340.29K	USD	2 Qtrs
Deferred rent and other liabilities	`IncreaseDecreaseInDeferredRentAndOtherLiabilities`	$285.85K	USD	2 Qtrs
Due to related entities	`IncreaseDecreaseInDueToRelatedParties`	$658.86K	USD	Annual
Due to related entities	`IncreaseDecreaseInDueToRelatedParties`	$-703.66K	USD	2 Qtrs
Due to related entities	`IncreaseDecreaseInDueToRelatedParties`	$-1.75M	USD	Annual
Due to related entities	`IncreaseDecreaseInDueToRelatedParties`	$-40.08K	USD	2 Qtrs
Net cash from operating activities	`NetCashProvidedByUsedInOperatingActivities`	$3.14M	USD	2 Qtrs
Net cash from operating activities	`NetCashProvidedByUsedInOperatingActivities`	$970.78K	USD	2 Qtrs
Net cash from operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-22.22M	USD	Annual
Net cash from operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-1.73M	USD	Annual
Proceeds from sale of investments	`ProceedsFromSaleOfOtherInvestments`	$10.51M	USD	2 Qtrs
Investments in real estate assets	`PaymentsToAcquirePartnersInterestInRealEstatePartnershipNetOfCashAcquired`	$28.62M	USD	2 Qtrs
Purchase of investments	`PaymentsToAcquireInvestments`	$9.30M	USD	2 Qtrs
Return of capital distributions	`ProceedsFromEquityMethodInvestmentDividendsOrDistributionsReturnOfCapital`	$6.00M	USD	2 Qtrs
Net cash from investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-21.42M	USD	2 Qtrs
Net cash from investing activities	`NetCashProvidedByUsedInInvestingActivities`	$1.93M	USD	2 Qtrs
Proceeds from mortgage notes payable	`ProceedsFromNotesPayable`	$15.12M	USD	2 Qtrs
Payments on mortgage notes payable	`RepaymentsOfNotesPayable`	$406.21K	USD	2 Qtrs
Dividend to stockholders	`PaymentsOfDividends`	$4.53M	USD	Annual
Dividend to stockholders	`PaymentsOfDividends`	$461.04K	USD	2 Qtrs
Dividend to stockholders	`PaymentsOfDividends`	$3.79M	USD	Annual
Repurchase of common stock	`PaymentsForRepurchaseOfCommonStock`	$408.82K	USD	2 Qtrs
Capital contributions by non-controlling interest holders	`CapitalContributionsByNonControllingInterestHolders`	$200.00K	USD	2 Qtrs
Net cash from financing activities	`NetCashProvidedByUsedInFinancingActivities`	$9.41M	USD	Annual
Net cash from financing activities	`NetCashProvidedByUsedInFinancingActivities`	$121.59K	USD	2 Qtrs
Net cash from financing activities	`NetCashProvidedByUsedInFinancingActivities`	$15.06M	USD	Annual
Net cash from financing activities	`NetCashProvidedByUsedInFinancingActivities`	$14.05M	USD	2 Qtrs
Net increase (decrease) in cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$7.68M	USD	Annual
Net increase (decrease) in cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$-6.40M	USD	2 Qtrs
Net increase (decrease) in cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$-7.16M	USD	Annual
Net increase (decrease) in cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$5.20M	USD	2 Qtrs
Cash and restricted cash at beginning of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$8.44M	USD	Point-in-time
Cash and restricted cash at beginning of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$1.28M	USD	Point-in-time
Cash and restricted cash at beginning of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$14.15M	USD	Point-in-time
Cash and restricted cash at beginning of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$8.96M	USD	Point-in-time
Cash and restricted cash at beginning of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$7.75M	USD	Point-in-time
Cash and restricted cash at end of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$8.44M	USD	Point-in-time
Cash and restricted cash at end of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$1.28M	USD	Point-in-time
Cash and restricted cash at end of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$14.15M	USD	Point-in-time
Cash and restricted cash at end of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$8.96M	USD	Point-in-time
Cash and restricted cash at end of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$7.75M	USD	Point-in-time
Cash at end of the period	`CashAndCashEquivalentsAtCarryingValue`	$4.83M	USD	Point-in-time
Cash at end of the period	`CashAndCashEquivalentsAtCarryingValue`	$8.96M	USD	Point-in-time
Cash at end of the period	`CashAndCashEquivalentsAtCarryingValue`	$12.54M	USD	Point-in-time
Restricted cash at end of the period	`RestrictedCash`	$1.61M	USD	Point-in-time
Restricted cash at end of the period	`RestrictedCash`	$2.92M	USD	Point-in-time
Issuance of common stock through reinvestment of dividends	`StockIssued1`	$204.28K	USD	2 Qtrs
Cash paid for interest	`InterestPaidNet`	$605.02K	USD	2 Qtrs

Stockholders Equity 17 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$97.78M	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$97.36M	USD	Point-in-time
Capital contributions by non-controlling interest holders	`StockIssuedDuringPeriodValueCapitalContributionsByNonControllingInterestHolders`	$200.00K	USD	2 Qtrs
Dividends to stockholders	`Dividends`	$5.53M	USD	2 Qtrs
Dividends to stockholders	`Dividends`	$7.24M	USD	Annual
Dividends to stockholders	`Dividends`	$5.54M	USD	Annual
Dividends to stockholders	`Dividends`	$665.32K	USD	2 Qtrs
Net income (loss)	`ProfitLoss`	$2.89M	USD	Annual
Net income (loss)	`ProfitLoss`	$-11.73M	USD	Annual
Net income (loss)	`ProfitLoss`	$249.95K	USD	2 Qtrs
Net income (loss)	`ProfitLoss`	$-9.67M	USD	2 Qtrs
Issuance of common stock through reinvestment of dividends	`StockIssuedDuringPeriodValueDividendReinvestmentPlan`	$3.01M	USD	Annual
Issuance of common stock through reinvestment of dividends	`StockIssuedDuringPeriodValueDividendReinvestmentPlan`	$2.89M	USD	Annual
Issuance of common stock through reinvestment of dividends	`StockIssuedDuringPeriodValueDividendReinvestmentPlan`	$204.28K	USD	2 Qtrs
Repurchase of common stock	`StockRepurchasedDuringPeriodValue`	$408.82K	USD	2 Qtrs
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$97.78M	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$97.36M	USD	Point-in-time

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.