$MKZR
Mackenzie Realty Capital Inc

2023 Q2 Form 10-Q Financial Statement

#000114036123024757 Filed on May 15, 2023

View on sec.gov

Income Statement

Concept 2023 Q2 2023 Q1
Revenue $3.890M $4.470M
YoY Change 51.95% 77.47%
Cost Of Revenue $2.370M $2.540M
YoY Change 63.45% 72.79%
Gross Profit $1.520M $1.930M
YoY Change 36.94% 83.81%
Gross Profit Margin 39.07% 43.18%
Selling, General & Admin $690.0K $600.0K
YoY Change 15.0% 22.45%
% of Gross Profit 45.39% 31.09%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $1.530M $1.048M
YoY Change 16.79% 46.73%
% of Gross Profit 100.66% 54.28%
Operating Expenses $3.020M $7.496M
YoY Change 14.83% 70.82%
Operating Profit -$1.500M -$3.026M
YoY Change -1.32% 61.85%
Interest Expense -$2.830M $1.908M
YoY Change -9533.33% 233.26%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income $10.16M -$10.24M
YoY Change -193.47% -280.92%
Income Tax
% Of Pretax Income
Net Earnings $9.600M -$10.24M
YoY Change -189.64% -280.74%
Net Earnings / Revenue 246.79% -229.06%
Basic Earnings Per Share -$0.79
Diluted Earnings Per Share $0.72 -$0.79
COMMON SHARES
Basic Shares Outstanding 13.30M 13.30M
Diluted Shares Outstanding

Balance Sheet

Concept 2023 Q2 2023 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $17.20M $17.60M
YoY Change 132.43% -51.52%
Cash & Equivalents $17.24M $17.58M
Short-Term Investments
Other Short-Term Assets $800.0K $1.200M
YoY Change 700.0% 140.0%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $19.20M $19.80M
YoY Change 113.33% -49.23%
LONG-TERM ASSETS
Property, Plant & Equipment $170.7M $171.6M
YoY Change 75.26% 121.42%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $22.20M $24.70M
YoY Change -61.46% -48.86%
Other Assets $900.0K $11.20M
YoY Change -95.16% 220.0%
Total Long-Term Assets $194.0M $207.5M
YoY Change 11.75% 60.48%
TOTAL ASSETS
Total Short-Term Assets $19.20M $19.80M
Total Long-Term Assets $194.0M $207.5M
Total Assets $213.2M $227.3M
YoY Change 16.76% 35.06%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.400M $1.600M
YoY Change -51.72% 14.29%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $4.000M $4.100M
YoY Change -18.37% 5.13%
LONG-TERM LIABILITIES
Long-Term Debt $93.50M $115.5M
YoY Change 36.7% 118.75%
Other Long-Term Liabilities $4.600M $6.400M
YoY Change -9.8% 357.14%
Total Long-Term Liabilities $98.10M $121.9M
YoY Change 33.47% 124.91%
TOTAL LIABILITIES
Total Short-Term Liabilities $4.000M $4.100M
Total Long-Term Liabilities $98.10M $121.9M
Total Liabilities $102.1M $126.1M
YoY Change 30.38% 117.37%
SHAREHOLDERS EQUITY
Retained Earnings -$34.86M -$42.87M
YoY Change 44.58% 255.02%
Common Stock $1.324K $1.324K
YoY Change -0.08% -0.3%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $98.91M $89.19M
YoY Change
Total Liabilities & Shareholders Equity $213.2M $227.3M
YoY Change 16.76% 35.06%

Cashflow Statement

Concept 2023 Q2 2023 Q1
OPERATING ACTIVITIES
Net Income $9.600M -$10.24M
YoY Change -189.64% -280.74%
Depreciation, Depletion And Amortization $1.530M $1.048M
YoY Change 16.79% 46.73%
Cash From Operating Activities -$1.710M -$1.430M
YoY Change -190.96% -391.84%
INVESTING ACTIVITIES
Capital Expenditures $760.0K $9.710M
YoY Change -98.12% 807.48%
Acquisitions
YoY Change
Other Investing Activities $9.960M $21.05M
YoY Change -246.04% 54.44%
Cash From Investing Activities $9.210M $11.34M
YoY Change -119.51% -9.71%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -8.380M 930.0K
YoY Change -157.63% -34.51%
NET CHANGE
Cash From Operating Activities -1.710M -1.430M
Cash From Investing Activities 9.210M 11.34M
Cash From Financing Activities -8.380M 930.0K
Net Change In Cash -880.0K 10.84M
YoY Change -97.14% -25.09%
FREE CASH FLOW
Cash From Operating Activities -$1.710M -$1.430M
Capital Expenditures $760.0K $9.710M
Free Cash Flow -$2.470M -$11.14M
YoY Change -93.59% 1820.69%

Facts In Submission

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StockIssuedDuringPeriodValueDistributionsToNonControllingInterestHolders
187520
CY2023Q1 mrc Operating Partnership Value Preferred Units Issued
OperatingPartnershipValuePreferredUnitsIssued
3242557
CY2023Q1 us-gaap Dividends Common Stock Stock
DividendsCommonStockStock
1520985
CY2023Q1 us-gaap Dividends Preferred Stock Stock
DividendsPreferredStockStock
209620
CY2023Q1 us-gaap Profit Loss
ProfitLoss
-10238617
CY2023Q1 mrc Stock Issued During Period Value Preferred Stock New Issues
StockIssuedDuringPeriodValuePreferredStockNewIssues
2046495
CY2023Q1 us-gaap Stock Issued During Period Value Dividend Reinvestment Plan
StockIssuedDuringPeriodValueDividendReinvestmentPlan
419049
CY2023Q1 mrc Preferred Stock Issued During Period Value Dividend Reinvestment Plan
PreferredStockIssuedDuringPeriodValueDividendReinvestmentPlan
23436
CY2023Q1 mrc Issuance Operating Partnership Preferred Units Through Reinvestment Of Dividends
IssuanceOperatingPartnershipPreferredUnitsThroughReinvestmentOfDividends
17693
CY2023Q1 us-gaap Adjustments To Additional Paid In Capital Stock Issued Issuance Costs
AdjustmentsToAdditionalPaidInCapitalStockIssuedIssuanceCosts
267546
CY2023Q1 us-gaap Stock Redeemed Or Called During Period Value
StockRedeemedOrCalledDuringPeriodValue
434656
CY2023Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
101191721
CY2022Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
104222217
mrc Stock Issued During Period Value Distributions To Non Controlling Interest Holders
StockIssuedDuringPeriodValueDistributionsToNonControllingInterestHolders
439668
mrc Operating Partnership Value Preferred Units Issued
OperatingPartnershipValuePreferredUnitsIssued
5953935
us-gaap Dividends Common Stock Stock
DividendsCommonStockStock
4367666
us-gaap Dividends Preferred Stock Stock
DividendsPreferredStockStock
453413
us-gaap Profit Loss
ProfitLoss
-13851187
mrc Operating Partnership Value Conversion Of Convertible Securities
OperatingPartnershipValueConversionOfConvertibleSecurities
0
mrc Stock Issued During Period Value Preferred Stock New Issues
StockIssuedDuringPeriodValuePreferredStockNewIssues
11449495
us-gaap Stock Issued During Period Value Dividend Reinvestment Plan
StockIssuedDuringPeriodValueDividendReinvestmentPlan
1208909
mrc Preferred Stock Issued During Period Value Dividend Reinvestment Plan
PreferredStockIssuedDuringPeriodValueDividendReinvestmentPlan
39988
mrc Issuance Operating Partnership Preferred Units Through Reinvestment Of Dividends
IssuanceOperatingPartnershipPreferredUnitsThroughReinvestmentOfDividends
29358
us-gaap Adjustments To Additional Paid In Capital Stock Issued Issuance Costs
AdjustmentsToAdditionalPaidInCapitalStockIssuedIssuanceCosts
1363238
us-gaap Stock Redeemed Or Called During Period Value
StockRedeemedOrCalledDuringPeriodValue
1237009
CY2023Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
101191721
CY2021Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
105020168
CY2022Q1 mrc Stock Issued During Period Value Distributions To Non Controlling Interest Holders
StockIssuedDuringPeriodValueDistributionsToNonControllingInterestHolders
2832
CY2022Q1 us-gaap Dividends Common Stock Stock
DividendsCommonStockStock
1193841
CY2022Q1 us-gaap Dividends Preferred Stock Stock
DividendsPreferredStockStock
18507
CY2022Q1 us-gaap Profit Loss
ProfitLoss
5664692
CY2022Q1 mrc Operating Partnership Value Conversion Of Convertible Securities
OperatingPartnershipValueConversionOfConvertibleSecurities
0
CY2022Q1 us-gaap Stock Issued During Period Value Dividend Reinvestment Plan
StockIssuedDuringPeriodValueDividendReinvestmentPlan
313300
CY2022Q1 mrc Preferred Stock Issued During Period Value Dividend Reinvestment Plan
PreferredStockIssuedDuringPeriodValueDividendReinvestmentPlan
75
CY2022Q1 mrc Stock Issued During Period Value Preferred Stock New Issues
StockIssuedDuringPeriodValuePreferredStockNewIssues
1896500
CY2022Q1 us-gaap Adjustments To Additional Paid In Capital Stock Issued Issuance Costs
AdjustmentsToAdditionalPaidInCapitalStockIssuedIssuanceCosts
241036
CY2022Q1 us-gaap Stock Redeemed Or Called During Period Value
StockRedeemedOrCalledDuringPeriodValue
1149390
CY2022Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
110289129
CY2021Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
97362820
mrc Stock Issued During Period Value Capital Contributions By Non Controlling Interest Holders
StockIssuedDuringPeriodValueCapitalContributionsByNonControllingInterestHolders
856364
mrc Stock Issued During Period Value Distributions To Non Controlling Interest Holders
StockIssuedDuringPeriodValueDistributionsToNonControllingInterestHolders
9146
us-gaap Dividends Common Stock Stock
DividendsCommonStockStock
3993935
us-gaap Dividends Preferred Stock Stock
DividendsPreferredStockStock
18947
us-gaap Profit Loss
ProfitLoss
15144826
mrc Operating Partnership Value Conversion Of Convertible Securities
OperatingPartnershipValueConversionOfConvertibleSecurities
0
us-gaap Stock Issued During Period Value Dividend Reinvestment Plan
StockIssuedDuringPeriodValueDividendReinvestmentPlan
839610
mrc Preferred Stock Issued During Period Value Dividend Reinvestment Plan
PreferredStockIssuedDuringPeriodValueDividendReinvestmentPlan
75
mrc Stock Issued During Period Value Preferred Stock New Issues
StockIssuedDuringPeriodValuePreferredStockNewIssues
1984500
us-gaap Adjustments To Additional Paid In Capital Stock Issued Issuance Costs
AdjustmentsToAdditionalPaidInCapitalStockIssuedIssuanceCosts
672460
us-gaap Stock Redeemed Or Called During Period Value
StockRedeemedOrCalledDuringPeriodValue
1204578
CY2022Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
110289129
us-gaap Profit Loss
ProfitLoss
-13851187
us-gaap Profit Loss
ProfitLoss
15144826
us-gaap Equity Securities Fv Ni Unrealized Gain Loss
EquitySecuritiesFvNiUnrealizedGainLoss
-1312612
us-gaap Equity Securities Fv Ni Unrealized Gain Loss
EquitySecuritiesFvNiUnrealizedGainLoss
-876882
mrc Income From Equity Method Investments At Fair Value
IncomeFromEquityMethodInvestmentsAtFairValue
-1478779
mrc Income From Equity Method Investments At Fair Value
IncomeFromEquityMethodInvestmentsAtFairValue
-7053372
us-gaap Realized Investment Gains Losses
RealizedInvestmentGainsLosses
830964
us-gaap Realized Investment Gains Losses
RealizedInvestmentGainsLosses
9462904
us-gaap Gain Loss On Disposition Of Assets1
GainLossOnDispositionOfAssets1
-3604
us-gaap Gain Loss On Disposition Of Assets1
GainLossOnDispositionOfAssets1
0
us-gaap Impairment Of Long Lived Assets To Be Disposed Of
ImpairmentOfLongLivedAssetsToBeDisposedOf
8121089
us-gaap Impairment Of Long Lived Assets To Be Disposed Of
ImpairmentOfLongLivedAssetsToBeDisposedOf
0
us-gaap Straight Line Rent
StraightLineRent
41920
us-gaap Straight Line Rent
StraightLineRent
418951
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
3737983
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
3225189
us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
451433
us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
14320
mrc Accretion Of Market Lease And Other Intangibles Net
AccretionOfMarketLeaseAndOtherIntangiblesNet
-167555
mrc Accretion Of Market Lease And Other Intangibles Net
AccretionOfMarketLeaseAndOtherIntangiblesNet
-121881
mrc Increase Decrease In Investment Income Rent And Other Receivables
IncreaseDecreaseInInvestmentIncomeRentAndOtherReceivables
-1138360
mrc Increase Decrease In Investment Income Rent And Other Receivables
IncreaseDecreaseInInvestmentIncomeRentAndOtherReceivables
-160959
us-gaap Increase Decrease In Due From Related Parties
IncreaseDecreaseInDueFromRelatedParties
0
us-gaap Increase Decrease In Due From Related Parties
IncreaseDecreaseInDueFromRelatedParties
27001
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
1287821
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
199924
mrc Increase Decrease In Deferred Rent And Other Liabilities
IncreaseDecreaseInDeferredRentAndOtherLiabilities
-318917
mrc Increase Decrease In Deferred Rent And Other Liabilities
IncreaseDecreaseInDeferredRentAndOtherLiabilities
22483
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-1323635
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
505626
us-gaap Increase Decrease In Due To Related Parties
IncreaseDecreaseInDueToRelatedParties
-377581
us-gaap Increase Decrease In Due To Related Parties
IncreaseDecreaseInDueToRelatedParties
74741
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-4913278
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
2740993
us-gaap Proceeds From Sale Of Other Investments
ProceedsFromSaleOfOtherInvestments
13225365
us-gaap Proceeds From Sale Of Other Investments
ProceedsFromSaleOfOtherInvestments
30333194
mrc Payments For Advance On Investment Acquisition
PaymentsForAdvanceOnInvestmentAcquisition
0
mrc Payments For Advance On Investment Acquisition
PaymentsForAdvanceOnInvestmentAcquisition
900000
us-gaap Payments To Acquire Partners Interest In Real Estate Partnership Net Of Cash Acquired
PaymentsToAcquirePartnersInterestInRealEstatePartnershipNetOfCashAcquired
17944745
us-gaap Payments To Acquire Partners Interest In Real Estate Partnership Net Of Cash Acquired
PaymentsToAcquirePartnersInterestInRealEstatePartnershipNetOfCashAcquired
22851479
us-gaap Payments To Acquire Investments
PaymentsToAcquireInvestments
303884
us-gaap Payments To Acquire Investments
PaymentsToAcquireInvestments
13786878
us-gaap Proceeds From Equity Method Investment Dividends Or Distributions Return Of Capital
ProceedsFromEquityMethodInvestmentDividendsOrDistributionsReturnOfCapital
12282338
us-gaap Proceeds From Equity Method Investment Dividends Or Distributions Return Of Capital
ProceedsFromEquityMethodInvestmentDividendsOrDistributionsReturnOfCapital
22250314
us-gaap Payment For Contingent Consideration Liability Investing Activities
PaymentForContingentConsiderationLiabilityInvestingActivities
1154125
us-gaap Payment For Contingent Consideration Liability Investing Activities
PaymentForContingentConsiderationLiabilityInvestingActivities
0
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
6104949
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
15045151
us-gaap Proceeds From Issuance Of Secured Debt
ProceedsFromIssuanceOfSecuredDebt
3034349
us-gaap Proceeds From Issuance Of Secured Debt
ProceedsFromIssuanceOfSecuredDebt
16129689
us-gaap Repayments Of Secured Debt
RepaymentsOfSecuredDebt
455400
us-gaap Repayments Of Secured Debt
RepaymentsOfSecuredDebt
1294879
us-gaap Proceeds From Notes Payable
ProceedsFromNotesPayable
9632
us-gaap Proceeds From Notes Payable
ProceedsFromNotesPayable
0
us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
12388
us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
0
us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
0
us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
784327
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
3203432
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
1960849
us-gaap Proceeds From Issuance Of Preferred Stock And Preference Stock
ProceedsFromIssuanceOfPreferredStockAndPreferenceStock
11449495
us-gaap Proceeds From Issuance Of Preferred Stock And Preference Stock
ProceedsFromIssuanceOfPreferredStockAndPreferenceStock
1984500
us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
16213
us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
0
mrc Payment Of Selling Commissions And Fees
PaymentOfSellingCommissionsAndFees
1005925
mrc Payment Of Selling Commissions And Fees
PaymentOfSellingCommissionsAndFees
523032
us-gaap Proceeds From Minority Shareholders
ProceedsFromMinorityShareholders
0
us-gaap Proceeds From Minority Shareholders
ProceedsFromMinorityShareholders
856364
us-gaap Payments Of Dividends Minority Interest
PaymentsOfDividendsMinorityInterest
280835
us-gaap Payments Of Dividends Minority Interest
PaymentsOfDividendsMinorityInterest
8068
mrc Redemption Of Common Stock
RedemptionOfCommonStock
1150404
mrc Redemption Of Common Stock
RedemptionOfCommonStock
162884
mrc Payments For Proceeds From Change In Capital Pending Acceptance
PaymentsForProceedsFromChangeInCapitalPendingAcceptance
-464400
mrc Payments For Proceeds From Change In Capital Pending Acceptance
PaymentsForProceedsFromChangeInCapitalPendingAcceptance
-10000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
8833279
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
14246514
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
10024950
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
32032658
CY2022Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
8998165
CY2021Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
7753553
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
19023115
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
39786211
CY2023Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
17582046
CY2022Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
31399223
CY2023Q1 us-gaap Restricted Cash
RestrictedCash
906312
CY2022Q1 us-gaap Restricted Cash
RestrictedCash
5570020
CY2023Q1 mrc Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Classified As Assets Held For Sale
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsClassifiedAsAssetsHeldForSale
534757
CY2022Q1 mrc Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Classified As Assets Held For Sale
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsClassifiedAsAssetsHeldForSale
2816968
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
19023115
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
39786211
us-gaap Stock Issued1
StockIssued1
1208909
us-gaap Stock Issued1
StockIssued1
839610
mrc Issuance Of Preferred Stock Through Reinvestment Of Dividends
IssuanceOfPreferredStockThroughReinvestmentOfDividends
39988
mrc Issuance Of Preferred Stock Through Reinvestment Of Dividends
IssuanceOfPreferredStockThroughReinvestmentOfDividends
75
mrc Written Off Contingent Consideration
WrittenOffContingentConsideration
57875
mrc Written Off Contingent Consideration
WrittenOffContingentConsideration
0
us-gaap Interest Paid Net
InterestPaidNet
3759832
us-gaap Interest Paid Net
InterestPaidNet
1174261
us-gaap Proceeds From Contributions From Parent
ProceedsFromContributionsFromParent
71671717
us-gaap Proceeds From Issuance Initial Public Offering
ProceedsFromIssuanceInitialPublicOffering
119100000
mrc Number Of Public Offering
NumberOfPublicOffering
3
us-gaap Proceeds From Issuance Of Common Stock Dividend Reinvestment Plan
ProceedsFromIssuanceOfCommonStockDividendReinvestmentPlan
13800000
us-gaap Payments For Repurchase Of Initial Public Offering
PaymentsForRepurchaseOfInitialPublicOffering
12880000
CY2023Q1 mrc Dividend Reinvestment Plan Share Price
DividendReinvestmentPlanSharePrice
7.38
CY2023Q1 mrc Capital Pending Acceptance
CapitalPendingAcceptance
549400
CY2022Q2 mrc Capital Pending Acceptance
CapitalPendingAcceptance
85000
mrc Percentage Of Excise Tax On Catch Up Distributions Paid In The Subsequent Year
PercentageOfExciseTaxOnCatchUpDistributionsPaidInTheSubsequentYear
0.04
CY2023Q1 mrc Number Of Entities Income Tax Liabilities Flow Through To Partners
NumberOfEntitiesIncomeTaxLiabilitiesFlowThroughToPartners
2
CY2023Q1 mrc Number Of Entities Income Tax Liabilities Flow Through To Partners
NumberOfEntitiesIncomeTaxLiabilitiesFlowThroughToPartners
2
CY2023Q1 mrc Number Of Entities Income Tax Liabilities Flow Through To Partners
NumberOfEntitiesIncomeTaxLiabilitiesFlowThroughToPartners
2
CY2023Q1 mrc Uncertain Tax Positions
UncertainTaxPositions
0
CY2022Q2 mrc Uncertain Tax Positions
UncertainTaxPositions
0
CY2023Q1 us-gaap Equity Method Investments Fair Value Disclosure
EquityMethodInvestmentsFairValueDisclosure
16111744
CY2022Q2 us-gaap Equity Method Investments Fair Value Disclosure
EquityMethodInvestmentsFairValueDisclosure
45696840
CY2023Q1 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
588069
us-gaap Impairment Of Real Estate
ImpairmentOfRealEstate
0
us-gaap Impairment Of Long Lived Assets To Be Disposed Of
ImpairmentOfLongLivedAssetsToBeDisposedOf
8121089
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
1
CY2023Q1 us-gaap Depreciation
Depreciation
1047603
us-gaap Depreciation
Depreciation
2606536
CY2022Q1 us-gaap Depreciation
Depreciation
713955
us-gaap Depreciation
Depreciation
2001524
CY2023Q1 us-gaap Operating Lease Lease Income Lease Payments
OperatingLeaseLeaseIncomeLeasePayments
3982146
us-gaap Operating Lease Lease Income Lease Payments
OperatingLeaseLeaseIncomeLeasePayments
9979740
CY2023Q1 us-gaap Operating Lease Variable Lease Income
OperatingLeaseVariableLeaseIncome
487723
us-gaap Operating Lease Variable Lease Income
OperatingLeaseVariableLeaseIncome
1232884
CY2023Q1 us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
4469869
us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
11212624
CY2022Q1 us-gaap Operating Lease Lease Income Lease Payments
OperatingLeaseLeaseIncomeLeasePayments
2137406
us-gaap Operating Lease Lease Income Lease Payments
OperatingLeaseLeaseIncomeLeasePayments
6527631
CY2022Q1 us-gaap Operating Lease Variable Lease Income
OperatingLeaseVariableLeaseIncome
381237
us-gaap Operating Lease Variable Lease Income
OperatingLeaseVariableLeaseIncome
1283808
CY2022Q1 us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
2518643
us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
7811439
CY2023Q1 us-gaap Lessor Operating Lease Payments To Be Received Remainder Of Fiscal Year
LessorOperatingLeasePaymentsToBeReceivedRemainderOfFiscalYear
2262297
CY2023Q1 us-gaap Lessor Operating Lease Payments To Be Received Next Twelve Months
LessorOperatingLeasePaymentsToBeReceivedNextTwelveMonths
7397044
CY2023Q1 us-gaap Lessor Operating Lease Payments To Be Received Two Years
LessorOperatingLeasePaymentsToBeReceivedTwoYears
5939945
CY2023Q1 us-gaap Lessor Operating Lease Payments To Be Received Three Years
LessorOperatingLeasePaymentsToBeReceivedThreeYears
4577398
CY2023Q1 us-gaap Lessor Operating Lease Payments To Be Received Four Years
LessorOperatingLeasePaymentsToBeReceivedFourYears
3615567
CY2023Q1 mrc Lessor Operating Lease Payments To Be Received After Year Four
LessorOperatingLeasePaymentsToBeReceivedAfterYearFour
12352580
CY2023Q1 us-gaap Lessor Operating Lease Payments To Be Received
LessorOperatingLeasePaymentsToBeReceived
36144831
CY2023Q1 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
7757557
CY2023Q1 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
1676388
CY2023Q1 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
6081169
us-gaap Acquired Finite Lived Intangible Assets Weighted Average Useful Life
AcquiredFiniteLivedIntangibleAssetsWeightedAverageUsefulLife
P4Y10M24D
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
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
1090220
CY2022Q1 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
432540
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
1223665
CY2023Q1 us-gaap Investment Owned At Fair Value
InvestmentOwnedAtFairValue
24718993
CY2022Q2 us-gaap Investment Owned At Fair Value
InvestmentOwnedAtFairValue
57593244
CY2023Q1 us-gaap Investment Owned At Fair Value
InvestmentOwnedAtFairValue
24718993
CY2022Q2 us-gaap Investment Owned At Fair Value
InvestmentOwnedAtFairValue
57593244
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 us-gaap Business Combination Contingent Consideration Liability
BusinessCombinationContingentConsiderationLiability
2715000
us-gaap Payment For Contingent Consideration Liability Investing Activities
PaymentForContingentConsiderationLiabilityInvestingActivities
1154125
mrc Written Off Contingent Consideration
WrittenOffContingentConsideration
57875
CY2023Q1 us-gaap Business Combination Contingent Consideration Liability
BusinessCombinationContingentConsiderationLiability
1503000
CY2022Q2 us-gaap Business Combination Contingent Consideration Liability
BusinessCombinationContingentConsiderationLiability
2715000
CY2023Q1 mrc Contingent Liability Related To Guaranty On Mortgage Loans
ContingentLiabilityRelatedToGuarantyOnMortgageLoans
0
CY2023Q1 us-gaap Finance Lease Right Of Use Asset
FinanceLeaseRightOfUseAsset
651121
CY2023Q1 us-gaap Finance Lease Liability
FinanceLeaseLiability
642483
CY2023Q1 us-gaap Finance Lease Right Of Use Asset Before Accumulated Amortization
FinanceLeaseRightOfUseAssetBeforeAccumulatedAmortization
658695
CY2023Q1 us-gaap Finance Lease Right Of Use Asset Accumulated Amortization
FinanceLeaseRightOfUseAssetAccumulatedAmortization
7574
CY2023Q1 us-gaap Finance Lease Right Of Use Asset
FinanceLeaseRightOfUseAsset
651121
us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
7574
us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
11238
us-gaap Lease Cost
LeaseCost
18812
CY2023Q1 us-gaap Finance Lease Liability Payments Remainder Of Fiscal Year
FinanceLeaseLiabilityPaymentsRemainderOfFiscalYear
21271
CY2023Q1 us-gaap Finance Lease Liability Payments Due Next Twelve Months
FinanceLeaseLiabilityPaymentsDueNextTwelveMonths
86361
CY2023Q1 us-gaap Finance Lease Liability Payments Due Year Two
FinanceLeaseLiabilityPaymentsDueYearTwo
89813
CY2023Q1 us-gaap Finance Lease Liability Payments Due Year Three
FinanceLeaseLiabilityPaymentsDueYearThree
93408
CY2023Q1 us-gaap Finance Lease Liability Payments Due Year Four
FinanceLeaseLiabilityPaymentsDueYearFour
97079
CY2023Q1 mrc Finance Lease Liability Payments Due After Year Four
FinanceLeaseLiabilityPaymentsDueAfterYearFour
387042
CY2023Q1 us-gaap Finance Lease Liability Payments Due
FinanceLeaseLiabilityPaymentsDue
774974
CY2023Q1 us-gaap Finance Lease Liability Undiscounted Excess Amount
FinanceLeaseLiabilityUndiscountedExcessAmount
132491
CY2023Q1 us-gaap Finance Lease Liability
FinanceLeaseLiability
642483
CY2023Q1 us-gaap Finance Lease Weighted Average Remaining Lease Term1
FinanceLeaseWeightedAverageRemainingLeaseTerm1
P7Y9M10D
CY2023Q1 us-gaap Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
0.05
us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
16213
us-gaap Right Of Use Asset Obtained In Exchange For Finance Lease Liability
RightOfUseAssetObtainedInExchangeForFinanceLeaseLiability
658695
mrc Number Of Advisory Agreements
NumberOfAdvisoryAgreements
2
CY2023Q1 mrc Assets Management Fee Expense
AssetsManagementFeeExpense
767299
mrc Assets Management Fee Expense
AssetsManagementFeeExpense
2225085
CY2022Q1 mrc Assets Management Fee Expense
AssetsManagementFeeExpense
680678
mrc Assets Management Fee Expense
AssetsManagementFeeExpense
2034852
CY2022Q3 us-gaap Related Party Transaction Amounts Of Transaction
RelatedPartyTransactionAmountsOfTransaction
148639649
CY2022Q4 us-gaap Related Party Transaction Amounts Of Transaction
RelatedPartyTransactionAmountsOfTransaction
152470792
CY2023Q1 us-gaap Related Party Transaction Amounts Of Transaction
RelatedPartyTransactionAmountsOfTransaction
160153751
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
us-gaap Incentive Fee Expense
IncentiveFeeExpense
0
CY2023Q1 us-gaap Incentive Fee Expense
IncentiveFeeExpense
0
CY2022Q1 us-gaap Incentive Fee Expense
IncentiveFeeExpense
0
us-gaap Incentive Fee Expense
IncentiveFeeExpense
0
CY2022Q2 mrc Number Of Property Limited Partnership
NumberOfPropertyLimitedPartnership
8
CY2022Q2 mrc Incurred Offering Costs
IncurredOfferingCosts
600130
CY2023Q1 mrc Incurred Offering Costs
IncurredOfferingCosts
1009714
CY2023Q1 us-gaap Administrative Fees Expense
AdministrativeFeesExpense
181500
us-gaap Administrative Fees Expense
AdministrativeFeesExpense
544500
CY2022Q1 us-gaap Administrative Fees Expense
AdministrativeFeesExpense
152400
us-gaap Administrative Fees Expense
AdministrativeFeesExpense
457200
CY2023Q1 us-gaap Noninterest Expense Transfer Agent And Custodian Fees
NoninterestExpenseTransferAgentAndCustodianFees
23000
us-gaap Noninterest Expense Transfer Agent And Custodian Fees
NoninterestExpenseTransferAgentAndCustodianFees
69000
CY2022Q1 us-gaap Noninterest Expense Transfer Agent And Custodian Fees
NoninterestExpenseTransferAgentAndCustodianFees
26600
us-gaap Noninterest Expense Transfer Agent And Custodian Fees
NoninterestExpenseTransferAgentAndCustodianFees
79801
mrc Assets Management Fee Expense
AssetsManagementFeeExpense
2225085
mrc Assets Management Fee Expense
AssetsManagementFeeExpense
2034852
CY2023Q1 mrc Due To Related Parties Asset Management Fees
DueToRelatedPartiesAssetManagementFees
0
CY2022Q2 mrc Due To Related Parties Asset Management Fees
DueToRelatedPartiesAssetManagementFees
0
mrc Asset Acquisition Fees
AssetAcquisitionFees
1878356
mrc Asset Acquisition Fees
AssetAcquisitionFees
0
CY2023Q1 mrc Due To Related Parties Asset Acquisition Fees
DueToRelatedPartiesAssetAcquisitionFees
0
CY2022Q2 mrc Due To Related Parties Asset Acquisition Fees
DueToRelatedPartiesAssetAcquisitionFees
0
us-gaap Administrative Fees Expense
AdministrativeFeesExpense
544500
us-gaap Administrative Fees Expense
AdministrativeFeesExpense
457200
CY2023Q1 mrc Due To Related Parties Transfer Agent Cost Reimbursements
DueToRelatedPartiesTransferAgentCostReimbursements
0
CY2023Q1 mrc Due To Related Parties Administrative Cost Reimbursements
DueToRelatedPartiesAdministrativeCostReimbursements
0
CY2022Q2 mrc Due To Related Parties Administrative Cost Reimbursements
DueToRelatedPartiesAdministrativeCostReimbursements
0
us-gaap Noninterest Expense Transfer Agent And Custodian Fees
NoninterestExpenseTransferAgentAndCustodianFees
69000
us-gaap Noninterest Expense Transfer Agent And Custodian Fees
NoninterestExpenseTransferAgentAndCustodianFees
79801
CY2022Q2 mrc Due To Related Parties Transfer Agent Cost Reimbursements
DueToRelatedPartiesTransferAgentCostReimbursements
0
mrc Incurred Offering Costs Reimbursement
IncurredOfferingCostsReimbursement
410214
mrc Incurred Offering Costs Reimbursement
IncurredOfferingCostsReimbursement
391546
CY2023Q1 mrc Due To Related Parties Organization And Offering Cost
DueToRelatedPartiesOrganizationAndOfferingCost
186273
CY2022Q2 mrc Due To Related Parties Organization And Offering Cost
DueToRelatedPartiesOrganizationAndOfferingCost
141397
us-gaap Other Expenses
OtherExpenses
0
us-gaap Other Expenses
OtherExpenses
0
CY2023Q1 us-gaap Due To Other Related Parties Current And Noncurrent
DueToOtherRelatedPartiesCurrentAndNoncurrent
7150
CY2022Q2 us-gaap Due To Other Related Parties Current And Noncurrent
DueToOtherRelatedPartiesCurrentAndNoncurrent
72697
CY2023Q1 us-gaap Due To Affiliate Current And Noncurrent
DueToAffiliateCurrentAndNoncurrent
193423
CY2022Q2 us-gaap Due To Affiliate Current And Noncurrent
DueToAffiliateCurrentAndNoncurrent
214094
CY2023Q1 us-gaap Long Term Debt
LongTermDebt
21941673
CY2022Q2 us-gaap Long Term Debt
LongTermDebt
19604382
us-gaap Investment Company Net Assets From Operations Increase Decrease
InvestmentCompanyNetAssetsFromOperationsIncreaseDecrease
-14397810
us-gaap Investment Company Net Assets From Operations Increase Decrease
InvestmentCompanyNetAssetsFromOperationsIncreaseDecrease
15216402
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
13282666.75
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
13282666.75
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
13359538.6
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
13359538.6
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-1.08
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-1.08
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.14
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.14
CY2023Q1 us-gaap Stock Repurchase Program Number Of Shares Authorized To Be Repurchased
StockRepurchaseProgramNumberOfSharesAuthorizedToBeRepurchased
143762.3
CY2023Q1 us-gaap Stock Repurchase Program Remaining Authorized Repurchase Amount1
StockRepurchaseProgramRemainingAuthorizedRepurchaseAmount1
1237009
CY2022Q1 us-gaap Stock Repurchase Program Number Of Shares Authorized To Be Repurchased
StockRepurchaseProgramNumberOfSharesAuthorizedToBeRepurchased
131285.05
CY2022Q1 us-gaap Stock Repurchase Program Remaining Authorized Repurchase Amount1
StockRepurchaseProgramRemainingAuthorizedRepurchaseAmount1
1204678
us-gaap Dividends Common Stock
DividendsCommonStock
4367666
us-gaap Dividends Preferred Stock
DividendsPreferredStock
453413
us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
4170569
us-gaap Dividends Preferred Stock Cash
DividendsPreferredStockCash
281760
us-gaap Dividends Common Stock
DividendsCommonStock
3993935
us-gaap Dividends Preferred Stock
DividendsPreferredStock
18947
mrc Total Dividends Paid
TotalDividendsPaid
2800534
mrc Percentage Of Cumulative Cash Dividends On Each Preferred Share
PercentageOfCumulativeCashDividendsOnEachPreferredShare
0.06
us-gaap Dividends Preferred Stock
DividendsPreferredStock
18947

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