$MKZR
Mackenzie Realty Capital Inc

2022 Q3 Form 10-K Financial Statement

#000114036122034979 Filed on September 28, 2022

View on sec.gov

Income Statement

Concept 2022 Q3 2022 Q2 2022
Revenue $3.069M $2.560M $10.37M
YoY Change 12.71% 29.29% 84.18%
Cost Of Revenue $1.830M $1.450M $6.160M
YoY Change 31.65% 22.88% 164.38%
Gross Profit $1.240M $1.110M $4.210M
YoY Change -6.77% 38.75% 27.58%
Gross Profit Margin 40.41% 43.36% 40.6%
Selling, General & Admin $520.0K $600.0K $1.960M
YoY Change 23.81% 93.55% 59.35%
% of Gross Profit 41.94% 54.05% 46.56%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $912.3K $1.310M $4.544M
YoY Change -5.84% -2.24% 107.5%
% of Gross Profit 73.57% 118.02% 107.94%
Operating Expenses $5.587M $2.630M $17.85M
YoY Change 45.92% 17.94% 168.01%
Operating Profit -$2.518M -$1.520M -$7.481M
YoY Change 127.69% 6.29% 122.64%
Interest Expense $1.588M $30.00K $2.354M
YoY Change 355.34% -92.86% -138.85%
% of Operating Profit
Other Income/Expense, Net $0.00 $0.00
YoY Change
Pretax Income $1.290M -$10.87M $4.280M
YoY Change -73.78% 976.24% -145.44%
Income Tax
% Of Pretax Income
Net Earnings $1.286M -$10.71M $4.280M
YoY Change -73.87% 960.4% -145.53%
Net Earnings / Revenue 41.92% -418.36% 41.27%
Basic Earnings Per Share $0.09 $0.34
Diluted Earnings Per Share $0.09 -$0.81 $0.34
COMMON SHARES
Basic Shares Outstanding 13.30M 13.31M 13.34M
Diluted Shares Outstanding 13.28M 13.34M

Balance Sheet

Concept 2022 Q3 2022 Q2 2022
SHORT-TERM ASSETS
Cash & Short-Term Investments $10.80M $7.400M $7.400M
YoY Change 8.0% 54.17% 54.17%
Cash & Equivalents $10.76M $7.400M
Short-Term Investments
Other Short-Term Assets $700.0K $100.0K $100.0K
YoY Change -46.15% -66.67% -66.67%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $11.90M $9.000M $9.000M
YoY Change -15.0% 26.76% 26.76%
LONG-TERM ASSETS
Property, Plant & Equipment $116.1M $97.40M $97.40M
YoY Change 103.68% 67.93% 67.93%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $56.10M $57.60M $57.60M
YoY Change -20.76% -18.3% -18.3%
Other Assets $18.40M $18.60M $18.60M
YoY Change 982.35% 541.38% 541.38%
Total Long-Term Assets $190.5M $173.6M $173.6M
YoY Change 47.12% 32.04% 32.02%
TOTAL ASSETS
Total Short-Term Assets $11.90M $9.000M $9.000M
Total Long-Term Assets $190.5M $173.6M $173.6M
Total Assets $202.4M $182.6M $182.6M
YoY Change 41.06% 31.77% 31.75%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.200M $2.900M $2.900M
YoY Change 175.0% 222.22% 222.22%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $4.300M $4.900M $4.900M
YoY Change 138.89% 444.44% 444.44%
LONG-TERM LIABILITIES
Long-Term Debt $81.60M $68.40M $68.40M
YoY Change 111.95% 76.74% 76.74%
Other Long-Term Liabilities $5.300M $5.100M $5.100M
YoY Change 120.83% 218.75% 218.75%
Total Long-Term Liabilities $86.90M $73.50M $73.50M
YoY Change 112.47% 82.38% 82.38%
TOTAL LIABILITIES
Total Short-Term Liabilities $4.300M $4.900M $4.900M
Total Long-Term Liabilities $86.90M $73.50M $73.50M
Total Liabilities $91.26M $78.34M $84.70M
YoY Change 113.71% 90.2% 104.59%
SHAREHOLDERS EQUITY
Retained Earnings -$24.33M -$24.11M
YoY Change 21.02% 3.48%
Common Stock $1.325K $1.325K
YoY Change -0.67% -0.53%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $102.2M $97.85M $97.90M
YoY Change
Total Liabilities & Shareholders Equity $202.4M $182.6M $182.6M
YoY Change 41.06% 31.77% 31.75%

Cashflow Statement

Concept 2022 Q3 2022 Q2 2022
OPERATING ACTIVITIES
Net Income $1.286M -$10.71M $4.280M
YoY Change -73.87% 960.4% -145.53%
Depreciation, Depletion And Amortization $912.3K $1.310M $4.544M
YoY Change -5.84% -2.24% 107.5%
Cash From Operating Activities -$850.2K $1.880M $4.622M
YoY Change -180.9% 347.62% 12.46%
INVESTING ACTIVITIES
Capital Expenditures $1.220M $40.39M $63.24M
YoY Change 12100.0% 120.96%
Acquisitions
YoY Change
Other Investing Activities $1.770M -$6.820M $31.08M
YoY Change -51.1% -255.71% 240.04%
Cash From Investing Activities $553.1K -$47.21M -$32.16M
YoY Change -84.66% -1177.85% 65.03%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 3.211M 14.54M 28.79M
YoY Change -518.12% -1471.7% 103.15%
NET CHANGE
Cash From Operating Activities -850.2K 1.880M 4.622M
Cash From Investing Activities 553.1K -47.21M -32.16M
Cash From Financing Activities 3.211M 14.54M 28.79M
Net Change In Cash 2.914M -30.79M 1.245M
YoY Change -25.07% -923.26% -202.86%
FREE CASH FLOW
Cash From Operating Activities -$850.2K $1.880M $4.622M
Capital Expenditures $1.220M $40.39M $63.24M
Free Cash Flow -$2.070M -$38.51M -$58.62M
YoY Change -298.89% -9269.05% 139.16%

Facts In Submission

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us-gaap Proceeds From Notes Payable
ProceedsFromNotesPayable
15125000
us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
406215
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
461040
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
408818
us-gaap Proceeds From Minority Shareholders
ProceedsFromMinorityShareholders
200000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
14048927
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
-6399959
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
14153512
CY2021Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
7753553
CY2021Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
4305663
CY2021Q2 mrc Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Classified As Assets Held For Sale
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsClassifiedAsAssetsHeldForSale
3447890
CY2021Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
7753553
us-gaap Stock Issued1
StockIssued1
204277
us-gaap Interest Paid Net
InterestPaidNet
605018
us-gaap Profit Loss
ProfitLoss
-9667137
us-gaap Gain Loss On Sale Of Investments
GainLossOnSaleOfInvestments
-5204853
mrc Return Of Capital On Investments
ReturnOfCapitalOnInvestments
11486835
us-gaap Payments For Purchase Of Securities Operating Activities
PaymentsForPurchaseOfSecuritiesOperatingActivities
12685590
us-gaap Realized Investment Gains Losses
RealizedInvestmentGainsLosses
1016326
us-gaap Unrealized Gain Loss On Investments
UnrealizedGainLossOnInvestments
-10135612
us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
342015
mrc Increase Decrease In Investment Income Rent And Other Receivables
IncreaseDecreaseInInvestmentIncomeRentAndOtherReceivables
447398
us-gaap Increase Decrease In Due From Related Parties
IncreaseDecreaseInDueFromRelatedParties
150866
us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
-65129
mrc Increase Decrease In Deferred Offering Costs
IncreaseDecreaseInDeferredOfferingCosts
36578
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-48028
us-gaap Increase Decrease In Due To Related Parties
IncreaseDecreaseInDueToRelatedParties
-40083
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
3142438
us-gaap Proceeds From Divestiture Of Businesses Net Of Cash Divested
ProceedsFromDivestitureOfBusinessesNetOfCashDivested
1932088
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
1932088
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
218439
mrc Payment Of Selling Commissions And Fees
PaymentOfSellingCommissionsAndFees
9107
mrc Payments For Proceeds From Change In Capital Pending Acceptance
PaymentsForProceedsFromChangeInCapitalPendingAcceptance
87739
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
121593
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
5196119
CY2020Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
8957393
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
14153512
CY2020Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
12539943
CY2020Q4 us-gaap Restricted Cash
RestrictedCash
1613569
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
14153512
mrc Stock Issued During Period Value To Redeem Subsidiary S Non Controlling Interest
StockIssuedDuringPeriodValueToRedeemSubsidiarySNonControllingInterest
3957115
CY2020Q4 us-gaap Real Estate Investment Property Net
RealEstateInvestmentPropertyNet
30196471
CY2020Q4 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
1932088
CY2020Q4 mrc Rents And Other Receivable
RentsAndOtherReceivable
197760
CY2020Q4 us-gaap Other Restricted Assets
OtherRestrictedAssets
837133
CY2020Q4 us-gaap Notes Payable
NotesPayable
23974545
CY2020Q4 us-gaap Accounts Payable And Other Accrued Liabilities
AccountsPayableAndOtherAccruedLiabilities
943805
CY2020Q4 us-gaap Due From Affiliates
DueFromAffiliates
150866
CY2020Q4 us-gaap Members Capital
MembersCapital
8094236
CY2022Q2 mrc Shares Authorized
SharesAuthorized
100000000
CY2022Q2 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
80000000
CY2022Q2 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2022Q2 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
20000000
CY2022Q2 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.0001
CY2016Q4 us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
5000000
CY2016Q4 us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
15000000
CY2019Q4 us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
15000000
CY2021Q1 mrc Number Of Operating Companies Formed With Non Controlling Interest Holders
NumberOfOperatingCompaniesFormedWithNonControllingInterestHolders
2
CY2021Q1 mrc Number Of Residential Apartment Buildings To Acquire And Operate
NumberOfResidentialApartmentBuildingsToAcquireAndOperate
2
CY2022 mrc Portfolio Risk Concentration Percentage
PortfolioRiskConcentrationPercentage
0.20
CY2022 us-gaap Proceeds From Issuance Initial Public Offering
ProceedsFromIssuanceInitialPublicOffering
139290000
CY2022 us-gaap Proceeds From Issuance Of Common Stock Dividend Reinvestment Plan
ProceedsFromIssuanceOfCommonStockDividendReinvestmentPlan
12550000
CY2022 us-gaap Payments For Repurchase Of Initial Public Offering
PaymentsForRepurchaseOfInitialPublicOffering
11650000
CY2022 mrc Number Of Trading Days
NumberOfTradingDays
P10D
CY2022Q2 mrc Capital Pending Acceptance
CapitalPendingAcceptance
85000
CY2021Q2 mrc Capital Pending Acceptance
CapitalPendingAcceptance
0
CY2022 mrc Amortization Period Of Deferred Offering Costs
AmortizationPeriodOfDeferredOfferingCosts
P12M
CY2022 mrc Percentage Of Excise Tax On Catch Up Distributions Paid In The Subsequent Year
PercentageOfExciseTaxOnCatchUpDistributionsPaidInTheSubsequentYear
0.04
CY2021Q2 mrc Uncertain Tax Positions
UncertainTaxPositions
0
CY2022Q2 mrc Uncertain Tax Positions
UncertainTaxPositions
0
CY2022Q2 us-gaap Equity Method Investments Fair Value Disclosure
EquityMethodInvestmentsFairValueDisclosure
27363840
CY2021Q2 us-gaap Equity Method Investments Fair Value Disclosure
EquityMethodInvestmentsFairValueDisclosure
40590394
CY2022 mrc Non Cancelable Leases Average Remaining Term Of Amortization
NonCancelableLeasesAverageRemainingTermOfAmortization
P5Y
CY2022 us-gaap Impairment Of Real Estate
ImpairmentOfRealEstate
0
us-gaap Impairment Of Real Estate
ImpairmentOfRealEstate
0
CY2022 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
1
CY2022 us-gaap Depreciation
Depreciation
2866400
us-gaap Depreciation
Depreciation
1107467
us-gaap Depreciation
Depreciation
0
CY2022 us-gaap Operating Lease Lease Income Lease Payments
OperatingLeaseLeaseIncomeLeasePayments
8783327
us-gaap Operating Lease Lease Income Lease Payments
OperatingLeaseLeaseIncomeLeasePayments
3141111
CY2022 us-gaap Operating Lease Variable Lease Income
OperatingLeaseVariableLeaseIncome
1585847
us-gaap Operating Lease Variable Lease Income
OperatingLeaseVariableLeaseIncome
604004
CY2022 us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
10369174
us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
3745115
CY2022Q2 us-gaap Lessor Operating Lease Payments To Be Received Next Twelve Months
LessorOperatingLeasePaymentsToBeReceivedNextTwelveMonths
3111256
CY2022Q2 us-gaap Lessor Operating Lease Payments To Be Received Two Years
LessorOperatingLeasePaymentsToBeReceivedTwoYears
1694724
CY2022Q2 us-gaap Lessor Operating Lease Payments To Be Received Three Years
LessorOperatingLeasePaymentsToBeReceivedThreeYears
1727946
CY2022Q2 us-gaap Lessor Operating Lease Payments To Be Received Four Years
LessorOperatingLeasePaymentsToBeReceivedFourYears
1772903
CY2022Q2 us-gaap Lessor Operating Lease Payments To Be Received Five Years
LessorOperatingLeasePaymentsToBeReceivedFiveYears
1819230
CY2022Q2 us-gaap Lessor Operating Lease Payments To Be Received Thereafter
LessorOperatingLeasePaymentsToBeReceivedThereafter
5591966
CY2022Q2 us-gaap Lessor Operating Lease Payments To Be Received
LessorOperatingLeasePaymentsToBeReceived
15718025
CY2022Q2 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
2889828
CY2022Q2 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
586168
CY2022Q2 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
2303660
CY2022 us-gaap Acquired Finite Lived Intangible Assets Weighted Average Useful Life
AcquiredFiniteLivedIntangibleAssetsWeightedAverageUsefulLife
P5Y2M12D
CY2021Q2 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
5141279
CY2021Q2 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
1086485
CY2021Q2 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
4054794
CY2021 us-gaap Acquired Finite Lived Intangible Assets Weighted Average Useful Life
AcquiredFiniteLivedIntangibleAssetsWeightedAverageUsefulLife
P3Y1M6D
CY2022 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
1677943
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
1086486
CY2020Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
0
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
0
CY2022Q2 us-gaap Investment Owned At Fair Value
InvestmentOwnedAtFairValue
57593244
CY2021Q2 us-gaap Investment Owned At Fair Value
InvestmentOwnedAtFairValue
70509243
CY2022Q2 us-gaap Investment Owned At Fair Value
InvestmentOwnedAtFairValue
57593244
CY2021Q2 us-gaap Investment Owned At Fair Value
InvestmentOwnedAtFairValue
70509243
CY2022Q2 mrc Percentage Of Reduced Purchase Price For General Partnership Interest
PercentageOfReducedPurchasePriceForGeneralPartnershipInterest
0.20
CY2022Q2 mrc Percentage Of Holdback Reduced By Stabilization Costs
PercentageOfHoldbackReducedByStabilizationCosts
0.20
CY2022Q2 mrc Percentage Of Holdback Considered As Contingent Liability
PercentageOfHoldbackConsideredAsContingentLiability
0.20
CY2022Q2 mrc Contingent Liability Related To Guaranty On Mortgage Loans
ContingentLiabilityRelatedToGuarantyOnMortgageLoans
0
CY2022 mrc Number Of Components Advisory Fee Payable For Services
NumberOfComponentsAdvisoryFeePayableForServices
3
CY2022 mrc Number Of Advisory Agreements
NumberOfAdvisoryAgreements
2
CY2022 mrc Assets Management Fee Expense
AssetsManagementFeeExpense
2725588
mrc Assets Management Fee Expense
AssetsManagementFeeExpense
1354323
mrc Asset Acquisition Fees
AssetAcquisitionFees
343750
us-gaap Management Fee Expense
ManagementFeeExpense
1335376
us-gaap Noninterest Expense Investment Advisory Fees
NoninterestExpenseInvestmentAdvisoryFees
6679
CY2021Q3 us-gaap Related Party Transaction Amounts Of Transaction
RelatedPartyTransactionAmountsOfTransaction
133927634
CY2021Q4 us-gaap Related Party Transaction Amounts Of Transaction
RelatedPartyTransactionAmountsOfTransaction
134242127
CY2022Q1 us-gaap Related Party Transaction Amounts Of Transaction
RelatedPartyTransactionAmountsOfTransaction
135848952
CY2022Q2 us-gaap Related Party Transaction Amounts Of Transaction
RelatedPartyTransactionAmountsOfTransaction
141870274
CY2020Q3 us-gaap Related Party Transaction Amounts Of Transaction
RelatedPartyTransactionAmountsOfTransaction
128769486
CY2020Q4 us-gaap Related Party Transaction Amounts Of Transaction
RelatedPartyTransactionAmountsOfTransaction
133997317
CY2021Q1 us-gaap Related Party Transaction Amounts Of Transaction
RelatedPartyTransactionAmountsOfTransaction
134120859
CY2021Q2 us-gaap Related Party Transaction Amounts Of Transaction
RelatedPartyTransactionAmountsOfTransaction
133648965
CY2022 us-gaap Incentive Fee Expense
IncentiveFeeExpense
0
us-gaap Incentive Fee Expense
IncentiveFeeExpense
0
mrc Capital Gain Fee
CapitalGainFee
0
mrc Income Fee
IncomeFee
0
CY2022Q2 mrc Due To Related Parties Portfolio Structuring Fee
DueToRelatedPartiesPortfolioStructuringFee
0
CY2022Q2 mrc Incurred Offering Costs
IncurredOfferingCosts
600130
CY2022 us-gaap Administrative Fees Expense
AdministrativeFeesExpense
609600
us-gaap Administrative Fees Expense
AdministrativeFeesExpense
310400
us-gaap Administrative Fees Expense
AdministrativeFeesExpense
310400
CY2022 us-gaap Noninterest Expense Transfer Agent And Custodian Fees
NoninterestExpenseTransferAgentAndCustodianFees
106401
us-gaap Noninterest Expense Transfer Agent And Custodian Fees
NoninterestExpenseTransferAgentAndCustodianFees
61600
us-gaap Noninterest Expense Transfer Agent And Custodian Fees
NoninterestExpenseTransferAgentAndCustodianFees
61600
CY2022 mrc Assets Management Fee Expense
AssetsManagementFeeExpense
2725588
mrc Assets Management Fee Expense
AssetsManagementFeeExpense
1354323
mrc Assets Management Fee Expense
AssetsManagementFeeExpense
0
CY2022Q2 mrc Due To Related Parties Asset Management Fees
DueToRelatedPartiesAssetManagementFees
0
CY2021Q2 mrc Due To Related Parties Asset Management Fees
DueToRelatedPartiesAssetManagementFees
0
CY2022 us-gaap Management Fee Expense
ManagementFeeExpense
0
us-gaap Management Fee Expense
ManagementFeeExpense
0
us-gaap Management Fee Expense
ManagementFeeExpense
1335376
CY2022Q2 mrc Due To Related Parties Management Fees
DueToRelatedPartiesManagementFees
0
CY2021Q2 mrc Due To Related Parties Management Fees
DueToRelatedPartiesManagementFees
0
CY2022 mrc Asset Acquisition Fees
AssetAcquisitionFees
793919
mrc Asset Acquisition Fees
AssetAcquisitionFees
343750
mrc Asset Acquisition Fees
AssetAcquisitionFees
0
CY2022Q2 mrc Due To Related Parties Asset Acquisition Fees
DueToRelatedPartiesAssetAcquisitionFees
0
CY2021Q2 mrc Due To Related Parties Asset Acquisition Fees
DueToRelatedPartiesAssetAcquisitionFees
0
CY2022 us-gaap Noninterest Expense Investment Advisory Fees
NoninterestExpenseInvestmentAdvisoryFees
0
us-gaap Noninterest Expense Investment Advisory Fees
NoninterestExpenseInvestmentAdvisoryFees
0
us-gaap Noninterest Expense Investment Advisory Fees
NoninterestExpenseInvestmentAdvisoryFees
6679
CY2022Q2 mrc Due To Related Parties Portfolio Structuring Fee
DueToRelatedPartiesPortfolioStructuringFee
0
CY2021Q2 mrc Due To Related Parties Portfolio Structuring Fee
DueToRelatedPartiesPortfolioStructuringFee
0
CY2022 us-gaap Administrative Fees Expense
AdministrativeFeesExpense
609600
us-gaap Administrative Fees Expense
AdministrativeFeesExpense
310400
us-gaap Administrative Fees Expense
AdministrativeFeesExpense
310400
CY2022Q2 mrc Due To Related Parties Administrative Cost Reimbursements
DueToRelatedPartiesAdministrativeCostReimbursements
0
CY2021Q2 mrc Due To Related Parties Administrative Cost Reimbursements
DueToRelatedPartiesAdministrativeCostReimbursements
0
CY2022 us-gaap Noninterest Expense Transfer Agent And Custodian Fees
NoninterestExpenseTransferAgentAndCustodianFees
106401
us-gaap Noninterest Expense Transfer Agent And Custodian Fees
NoninterestExpenseTransferAgentAndCustodianFees
61600
us-gaap Noninterest Expense Transfer Agent And Custodian Fees
NoninterestExpenseTransferAgentAndCustodianFees
61600
CY2022Q2 mrc Due To Related Parties Transfer Agent Cost Reimbursements
DueToRelatedPartiesTransferAgentCostReimbursements
0
CY2021Q2 mrc Due To Related Parties Transfer Agent Cost Reimbursements
DueToRelatedPartiesTransferAgentCostReimbursements
0
CY2022 mrc Incurred Offering Costs Reimbursement
IncurredOfferingCostsReimbursement
480076
mrc Incurred Offering Costs Reimbursement
IncurredOfferingCostsReimbursement
0
mrc Incurred Offering Costs Reimbursement
IncurredOfferingCostsReimbursement
46136
CY2022Q2 mrc Due To Related Parties Organization And Offering Cost
DueToRelatedPartiesOrganizationAndOfferingCost
141397
CY2021Q2 mrc Due To Related Parties Organization And Offering Cost
DueToRelatedPartiesOrganizationAndOfferingCost
0
CY2022 us-gaap Other Expenses
OtherExpenses
0
us-gaap Other Expenses
OtherExpenses
0
us-gaap Other Expenses
OtherExpenses
0
CY2022Q2 us-gaap Due To Other Related Parties Current And Noncurrent
DueToOtherRelatedPartiesCurrentAndNoncurrent
72697
CY2021Q2 us-gaap Due To Other Related Parties Current And Noncurrent
DueToOtherRelatedPartiesCurrentAndNoncurrent
1926
CY2022Q2 us-gaap Due To Related Parties Current And Noncurrent
DueToRelatedPartiesCurrentAndNoncurrent
214094
CY2021Q2 us-gaap Due To Related Parties Current And Noncurrent
DueToRelatedPartiesCurrentAndNoncurrent
1926
CY2022Q2 us-gaap Long Term Debt
LongTermDebt
19604382
CY2021Q2 us-gaap Long Term Debt
LongTermDebt
23568330
CY2022 us-gaap Investment Company Net Assets From Operations Increase Decrease
InvestmentCompanyNetAssetsFromOperationsIncreaseDecrease
4507957
us-gaap Investment Company Net Assets From Operations Increase Decrease
InvestmentCompanyNetAssetsFromOperationsIncreaseDecrease
264157
us-gaap Investment Company Net Assets From Operations Increase Decrease
InvestmentCompanyNetAssetsFromOperationsIncreaseDecrease
-9667137
CY2022 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
13340164.03
CY2022 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
13340164.03
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
13332535.7
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
13332535.7
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
13020208.16
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
13020208.16
CY2022 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.34
CY2022 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.34
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.02
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.02
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.74
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.74
CY2021 us-gaap Sale Of Stock Number Of Shares Issued In Transaction
SaleOfStockNumberOfSharesIssuedInTransaction
21720
CY2021 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
218439
CY2021 us-gaap Payment Of Financing And Stock Issuance Costs
PaymentOfFinancingAndStockIssuanceCosts
18060
CY2020Q4 us-gaap Sale Of Stock Number Of Shares Issued In Transaction
SaleOfStockNumberOfSharesIssuedInTransaction
504091.15
CY2020Q4 us-gaap Sale Of Stock Price Per Share
SaleOfStockPricePerShare
7.85
CY2022Q2 us-gaap Stock Repurchase Program Number Of Shares Authorized To Be Repurchased
StockRepurchaseProgramNumberOfSharesAuthorizedToBeRepurchased
194980.05
CY2022Q2 us-gaap Stock Repurchase Program Remaining Authorized Repurchase Amount1
StockRepurchaseProgramRemainingAuthorizedRepurchaseAmount1
1775298
CY2021Q1 us-gaap Stock Repurchase Program Number Of Shares Authorized To Be Repurchased
StockRepurchaseProgramNumberOfSharesAuthorizedToBeRepurchased
0
CY2022 us-gaap Dividends Common Stock
DividendsCommonStock
5317823
CY2022 us-gaap Dividends Preferred Stock
DividendsPreferredStock
56929
CY2022 mrc Total Dividends Paid
TotalDividendsPaid
4012882
CY2022Q2 srt Real Estate And Accumulated Depreciation Amount Of Encumbrances
RealEstateAndAccumulatedDepreciationAmountOfEncumbrances
48766033
CY2022Q2 us-gaap Real Estate And Accumulated Depreciation Initial Cost Of Land
RealEstateAndAccumulatedDepreciationInitialCostOfLand
32117072
CY2022Q2 us-gaap Real Estate And Accumulated Depreciation Initial Cost Of Buildings And Improvements
RealEstateAndAccumulatedDepreciationInitialCostOfBuildingsAndImprovements
62828573
CY2022Q2 us-gaap Sec Schedule Iii Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Land
SECScheduleIIIRealEstateAndAccumulatedDepreciationCostsCapitalizedSubsequentToAcquisitionLand
0
CY2022Q2 us-gaap Sec Schedule Iii Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Buildings And Improvements
SECScheduleIIIRealEstateAndAccumulatedDepreciationCostsCapitalizedSubsequentToAcquisitionBuildingsAndImprovements
1650992
CY2022Q2 mrc Real Estate Companies Investment In Real Estate And Accumulated Depreciation Cost Capitalized Subsequent To Disposal Land
RealEstateCompaniesInvestmentInRealEstateAndAccumulatedDepreciationCostCapitalizedSubsequentToDisposalLand
0
CY2022Q2 mrc Real Estate Companies Investment In Real Estate And Accumulated Depreciation Cost Capitalized Subsequent To Disposal Building And Improvements
RealEstateCompaniesInvestmentInRealEstateAndAccumulatedDepreciationCostCapitalizedSubsequentToDisposalBuildingAndImprovements
297017
CY2022Q2 us-gaap Real Estate Gross At Carrying Value
RealEstateGrossAtCarryingValue
96299620
CY2022Q2 us-gaap Real Estate Accumulated Depreciation
RealEstateAccumulatedDepreciation
1181962
CY2021Q2 us-gaap Real Estate Gross At Carrying Value
RealEstateGrossAtCarryingValue
54641596
CY2020Q2 us-gaap Real Estate Gross At Carrying Value
RealEstateGrossAtCarryingValue
0
CY2022 us-gaap Real Estate Improvements
RealEstateImprovements
67519697
CY2021 us-gaap Real Estate Improvements
RealEstateImprovements
54641596
CY2022 mrc Real Estate Companies Investment In Real Estate Disposals
RealEstateCompaniesInvestmentInRealEstateDisposals
297017
CY2021 mrc Real Estate Companies Investment In Real Estate Disposals
RealEstateCompaniesInvestmentInRealEstateDisposals
0
CY2022 mrc Real Estate Companies Investment In Real Estate Reclassified To Assets Held For Sale
RealEstateCompaniesInvestmentInRealEstateReclassifiedToAssetsHeldForSale
25564656
CY2021 mrc Real Estate Companies Investment In Real Estate Reclassified To Assets Held For Sale
RealEstateCompaniesInvestmentInRealEstateReclassifiedToAssetsHeldForSale
0
CY2022Q2 us-gaap Real Estate Gross At Carrying Value
RealEstateGrossAtCarryingValue
96299620
CY2021Q2 us-gaap Real Estate Gross At Carrying Value
RealEstateGrossAtCarryingValue
54641596
CY2021Q2 us-gaap Real Estate Accumulated Depreciation
RealEstateAccumulatedDepreciation
1107466
CY2020Q2 us-gaap Real Estate Accumulated Depreciation
RealEstateAccumulatedDepreciation
0
CY2022 us-gaap Sec Schedule Iii Real Estate Accumulated Depreciation Depreciation Expense
SECScheduleIIIRealEstateAccumulatedDepreciationDepreciationExpense
2866400
CY2021 us-gaap Sec Schedule Iii Real Estate Accumulated Depreciation Depreciation Expense
SECScheduleIIIRealEstateAccumulatedDepreciationDepreciationExpense
1107466
CY2022 mrc Real Estate Companies Investment In Real Estate Accumulated Depreciation Disposals
RealEstateCompaniesInvestmentInRealEstateAccumulatedDepreciationDisposals
49711
CY2021 mrc Real Estate Companies Investment In Real Estate Accumulated Depreciation Disposals
RealEstateCompaniesInvestmentInRealEstateAccumulatedDepreciationDisposals
0
CY2022 mrc Real Estate Accumulated Depreciation Reclassified To Assets Held For Sale
RealEstateAccumulatedDepreciationReclassifiedToAssetsHeldForSale
2742193
CY2021 mrc Real Estate Accumulated Depreciation Reclassified To Assets Held For Sale
RealEstateAccumulatedDepreciationReclassifiedToAssetsHeldForSale
0
CY2022Q2 us-gaap Real Estate Accumulated Depreciation
RealEstateAccumulatedDepreciation
1181962
CY2021Q2 us-gaap Real Estate Accumulated Depreciation
RealEstateAccumulatedDepreciation
1107466
CY2022Q2 mrc Real Estate Companies Investment In Real Estate Accumulated Amortization
RealEstateCompaniesInvestmentInRealEstateAccumulatedAmortization
2370116

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