$MKZR
Mackenzie Realty Capital Inc

2024 Q4 Form 10-Q Financial Statement

#000114036124046881 Filed on November 14, 2024

View on sec.gov

Income Statement

Concept 2024 Q4 2024 Q3 2023 Q3
Revenue $4.952M $3.560M
YoY Change 39.11% 16.02%
Cost Of Revenue $1.390M
YoY Change -24.04%
Gross Profit $2.170M
YoY Change 75.0%
Gross Profit Margin 60.95%
Selling, General & Admin $741.3K
YoY Change 42.56%
% of Gross Profit 34.16%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $2.281M $1.560M
YoY Change 46.23% 70.96%
% of Gross Profit 71.87%
Operating Expenses $12.39M $5.817M
YoY Change 113.07% 4.12%
Operating Profit -$7.441M -$2.257M
YoY Change 229.74% -10.38%
Interest Expense $1.322M
YoY Change -16.75%
% of Operating Profit
Other Income/Expense, Net $0.00 $0.00
YoY Change
Pretax Income -$4.209M
YoY Change -426.26%
Income Tax
% Of Pretax Income
Net Earnings -$7.408M -$4.209M
YoY Change 76.02% -427.16%
Net Earnings / Revenue -149.59% -118.22%
Basic Earnings Per Share -$0.61 -$0.35
Diluted Earnings Per Share -$0.61 -$0.35
COMMON SHARES
Basic Shares Outstanding 13.44M 13.44M 13.31M
Diluted Shares Outstanding 13.35M 13.28M

Balance Sheet

Concept 2024 Q4 2024 Q3 2023 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $13.98M
YoY Change 29.46%
Cash & Equivalents $10.69M $13.98M
Short-Term Investments
Other Short-Term Assets $800.7K
YoY Change 14.38%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $15.68M
YoY Change 31.73%
LONG-TERM ASSETS
Property, Plant & Equipment $174.3M
YoY Change 50.11%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $20.25M
YoY Change -63.9%
Other Assets $700.6K
YoY Change -96.19%
Total Long-Term Assets $195.2M
YoY Change 2.48%
TOTAL ASSETS
Total Short-Term Assets $15.68M
Total Long-Term Assets $195.2M
Total Assets $243.5M $210.9M
YoY Change 15.47% 4.2%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.852M
YoY Change -15.81%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $4.493M
YoY Change 4.49%
LONG-TERM LIABILITIES
Long-Term Debt $96.41M
YoY Change 18.15%
Other Long-Term Liabilities $4.069M
YoY Change -23.22%
Total Long-Term Liabilities $100.5M
YoY Change 15.63%
TOTAL LIABILITIES
Total Short-Term Liabilities $4.493M
Total Long-Term Liabilities $100.5M
Total Liabilities $141.5M $105.0M
YoY Change 34.8% 15.03%
SHAREHOLDERS EQUITY
Retained Earnings -$64.54M -$41.11M
YoY Change 57.0% 68.93%
Common Stock $1.344K $1.324K
YoY Change 1.51% -0.08%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $73.45M $93.91M
YoY Change
Total Liabilities & Shareholders Equity $243.5M $210.9M
YoY Change 15.47% 4.2%

Cashflow Statement

Concept 2024 Q4 2024 Q3 2023 Q3
OPERATING ACTIVITIES
Net Income -$7.408M -$4.209M
YoY Change 76.02% -427.16%
Depreciation, Depletion And Amortization $2.281M $1.560M
YoY Change 46.23% 70.96%
Cash From Operating Activities $644.4K $517.1K
YoY Change 24.62% -160.82%
INVESTING ACTIVITIES
Capital Expenditures $5.055M
YoY Change 314.37%
Acquisitions
YoY Change
Other Investing Activities -$372.5K
YoY Change -121.05%
Cash From Investing Activities -$5.327M -$5.428M
YoY Change -1.86% -1081.29%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 3.573M 1.452M
YoY Change 146.13% -54.79%
NET CHANGE
Cash From Operating Activities 644.4K 517.1K
Cash From Investing Activities -5.327M -5.428M
Cash From Financing Activities 3.573M 1.452M
Net Change In Cash -1.109M -3.459M
YoY Change -67.93% -218.72%
FREE CASH FLOW
Cash From Operating Activities $644.4K $517.1K
Capital Expenditures $5.055M
Free Cash Flow -$4.538M
YoY Change 119.22%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
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<div style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-style: normal; font-variant: normal; text-transform: none; font-size: 10pt;"> <span style="font-style: italic;">Use of Estimates</span></div> <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-style: normal; font-variant: normal; text-transform: none; font-size: 10pt;"> <br/> </div> <div style="text-align: justify; font-weight: normal; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">The preparation of consolidated financial statements requires management to make estimates and assumptions that affect reported asset values, liabilities, revenues, expenses and unrealized gains (losses) on investments during the reporting period. Material estimates that are susceptible to change, and actual results could differ from those estimates.</div>
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CY2024Q3 dei Entity File Number
EntityFileNumber
000-55006
CY2024Q3 dei Entity Registrant Name
EntityRegistrantName
MacKenzie Realty Capital, Inc.
CY2024Q3 dei Entity Incorporation State Country Code
EntityIncorporationStateCountryCode
MD
CY2024Q3 dei Entity Tax Identification Number
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CY2024Q3 dei Entity Address Address Line1
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89 Davis Road, Suite 100
CY2024Q3 dei Entity Address City Or Town
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Orinda
CY2024Q3 dei Entity Address State Or Province
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CY2024Q3 dei Entity Address Postal Zip Code
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94563
CY2024Q3 dei City Area Code
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925
CY2024Q3 dei Local Phone Number
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631-9100
CY2024Q3 dei Security12b Title
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Common Stock, $0.0001 par value per share
CY2024Q3 dei Trading Symbol
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MKZR
CY2024Q3 dei Security Exchange Name
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NASDAQ
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CY2023Q3 mrc Income Loss From Equity Method Investments At Fair Value
IncomeLossFromEquityMethodInvestmentsAtFairValue
-1537455
CY2024Q3 us-gaap Realized Investment Gains Losses
RealizedInvestmentGainsLosses
151370
CY2023Q3 us-gaap Realized Investment Gains Losses
RealizedInvestmentGainsLosses
0
CY2024Q3 us-gaap Impairment Of Long Lived Assets To Be Disposed Of
ImpairmentOfLongLivedAssetsToBeDisposedOf
4406249
CY2023Q3 us-gaap Impairment Of Long Lived Assets To Be Disposed Of
ImpairmentOfLongLivedAssetsToBeDisposedOf
0
CY2024Q3 us-gaap Straight Line Rent
StraightLineRent
0
CY2023Q3 us-gaap Straight Line Rent
StraightLineRent
16270
CY2024Q3 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
2280756
CY2023Q3 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
1559668
CY2024Q3 us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
301588
CY2023Q3 us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
248437
CY2024Q3 mrc Accretion Of Above Below Market Lease Net
AccretionOfAboveBelowMarketLeaseNet
-67324
CY2023Q3 mrc Accretion Of Above Below Market Lease Net
AccretionOfAboveBelowMarketLeaseNet
-95434
CY2024Q3 mrc Increase Decrease In Investment Income Rent And Other Receivables
IncreaseDecreaseInInvestmentIncomeRentAndOtherReceivables
319497
CY2023Q3 mrc Increase Decrease In Investment Income Rent And Other Receivables
IncreaseDecreaseInInvestmentIncomeRentAndOtherReceivables
-327940
CY2024Q3 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-101663
CY2023Q3 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-12522
CY2024Q3 mrc Increase Decrease In Deferred Rent And Other Liabilities
IncreaseDecreaseInDeferredRentAndOtherLiabilities
58063
CY2023Q3 mrc Increase Decrease In Deferred Rent And Other Liabilities
IncreaseDecreaseInDeferredRentAndOtherLiabilities
-19896
CY2024Q3 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
1313789
CY2023Q3 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
441883
CY2024Q3 us-gaap Increase Decrease In Due To Related Parties
IncreaseDecreaseInDueToRelatedParties
-14536
CY2023Q3 us-gaap Increase Decrease In Due To Related Parties
IncreaseDecreaseInDueToRelatedParties
-330
CY2024Q3 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
644359
CY2023Q3 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
517066
CY2024Q3 us-gaap Proceeds From Sale Of Other Investments
ProceedsFromSaleOfOtherInvestments
670727
CY2023Q3 us-gaap Proceeds From Sale Of Other Investments
ProceedsFromSaleOfOtherInvestments
0
CY2024Q3 us-gaap Payments To Acquire Partners Interest In Real Estate Partnership Net Of Cash Acquired
PaymentsToAcquirePartnersInterestInRealEstatePartnershipNetOfCashAcquired
5826304
CY2023Q3 us-gaap Payments To Acquire Partners Interest In Real Estate Partnership Net Of Cash Acquired
PaymentsToAcquirePartnersInterestInRealEstatePartnershipNetOfCashAcquired
5055288
CY2024Q3 us-gaap Payments To Acquire Investments
PaymentsToAcquireInvestments
171064
CY2023Q3 us-gaap Payments To Acquire Investments
PaymentsToAcquireInvestments
393530
CY2024Q3 us-gaap Proceeds From Equity Method Investment Dividends Or Distributions Return Of Capital
ProceedsFromEquityMethodInvestmentDividendsOrDistributionsReturnOfCapital
0
CY2023Q3 us-gaap Proceeds From Equity Method Investment Dividends Or Distributions Return Of Capital
ProceedsFromEquityMethodInvestmentDividendsOrDistributionsReturnOfCapital
21000
CY2024Q3 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-5326641
CY2023Q3 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-5427818
CY2024Q3 us-gaap Proceeds From Issuance Of Secured Debt
ProceedsFromIssuanceOfSecuredDebt
5889891
CY2023Q3 us-gaap Proceeds From Issuance Of Secured Debt
ProceedsFromIssuanceOfSecuredDebt
2945715
CY2024Q3 us-gaap Repayments Of Secured Debt
RepaymentsOfSecuredDebt
403206
CY2023Q3 us-gaap Repayments Of Secured Debt
RepaymentsOfSecuredDebt
294927
CY2024Q3 us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
4860
CY2023Q3 us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
4676
CY2024Q3 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
1662824
CY2023Q3 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
1345908
CY2024Q3 us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
56021
CY2023Q3 us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
14216
CY2024Q3 mrc Payment Of Selling Commissions And Fees
PaymentOfSellingCommissionsAndFees
169793
CY2023Q3 mrc Payment Of Selling Commissions And Fees
PaymentOfSellingCommissionsAndFees
184766
CY2024Q3 us-gaap Proceeds From Minority Shareholders
ProceedsFromMinorityShareholders
359999
CY2023Q3 us-gaap Proceeds From Minority Shareholders
ProceedsFromMinorityShareholders
0
CY2024Q3 us-gaap Payments Of Dividends Minority Interest
PaymentsOfDividendsMinorityInterest
342071
CY2023Q3 us-gaap Payments Of Dividends Minority Interest
PaymentsOfDividendsMinorityInterest
167365
CY2024Q3 mrc Redemption Of Common Stock
RedemptionOfCommonStock
0
CY2023Q3 mrc Redemption Of Common Stock
RedemptionOfCommonStock
444999
CY2024Q3 mrc Payments For Proceeds From Change In Capital Pending Acceptance
PaymentsForProceedsFromChangeInCapitalPendingAcceptance
200300
CY2023Q3 mrc Payments For Proceeds From Change In Capital Pending Acceptance
PaymentsForProceedsFromChangeInCapitalPendingAcceptance
396600
CY2024Q3 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
3572898
CY2023Q3 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
1451608
CY2024Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
-1109384
CY2023Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
-3459144
CY2024Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
13077339
CY2023Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
18141019
CY2024Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
11967955
CY2023Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
14681875
CY2024Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
10693380
CY2023Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
13981263
CY2024Q3 us-gaap Restricted Cash
RestrictedCash
778923
CY2023Q3 us-gaap Restricted Cash
RestrictedCash
71793
CY2024Q3 mrc Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Classified As Assets Held For Sale
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsClassifiedAsAssetsHeldForSale
495652
CY2023Q3 mrc Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Classified As Assets Held For Sale
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsClassifiedAsAssetsHeldForSale
628819
CY2024Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
11967955
CY2023Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
14681875
CY2024Q3 us-gaap Interest Paid Net
InterestPaidNet
1611521
CY2023Q3 us-gaap Interest Paid Net
InterestPaidNet
1015556
CY2024Q3 us-gaap Share Based Compensation
ShareBasedCompensation
465500
CY2023Q3 us-gaap Share Based Compensation
ShareBasedCompensation
0
CY2024Q3 us-gaap Conversion Of Stock Amount Issued1
ConversionOfStockAmountIssued1
859
CY2023Q3 us-gaap Conversion Of Stock Amount Issued1
ConversionOfStockAmountIssued1
0
CY2024Q3 us-gaap Construction In Progress Expenditures Incurred But Not Yet Paid
ConstructionInProgressExpendituresIncurredButNotYetPaid
670977
CY2023Q3 us-gaap Construction In Progress Expenditures Incurred But Not Yet Paid
ConstructionInProgressExpendituresIncurredButNotYetPaid
0
CY2024Q3 us-gaap Stock Issued1
StockIssued1
0
CY2023Q3 us-gaap Stock Issued1
StockIssued1
443271
CY2024Q3 mrc Shares Authorized
SharesAuthorized
100000000
CY2024Q3 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
80000000
CY2024Q3 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2024Q3 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
20000000
CY2024Q3 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
CY2024Q3 mrc Portfolio Risk Concentration Percentage
PortfolioRiskConcentrationPercentage
0.20
CY2024Q3 us-gaap Proceeds From Contributions From Parent
ProceedsFromContributionsFromParent
82093593
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
CY2024Q3 us-gaap Proceeds From Issuance Initial Public Offering
ProceedsFromIssuanceInitialPublicOffering
119100000
CY2024Q3 mrc Number Of Public Offering
NumberOfPublicOffering
3
CY2024Q3 us-gaap Proceeds From Issuance Of Common Stock Dividend Reinvestment Plan
ProceedsFromIssuanceOfCommonStockDividendReinvestmentPlan
15560000
CY2024Q3 us-gaap Allowance For Doubtful Accounts Premiums And Other Receivables
AllowanceForDoubtfulAccountsPremiumsAndOtherReceivables
182218
CY2024Q2 us-gaap Allowance For Doubtful Accounts Premiums And Other Receivables
AllowanceForDoubtfulAccountsPremiumsAndOtherReceivables
213797
CY2024Q3 mrc Capital Pending Acceptance
CapitalPendingAcceptance
96700
CY2024Q2 mrc Capital Pending Acceptance
CapitalPendingAcceptance
297000
CY2024Q3 mrc Nondeductible Excise Tax
NondeductibleExciseTax
0.04
CY2024Q3 mrc Number Of Entities Income Tax Liabilities Flow Through To Partners
NumberOfEntitiesIncomeTaxLiabilitiesFlowThroughToPartners
2
CY2024Q3 mrc Uncertain Tax Positions
UncertainTaxPositions
0
CY2024Q2 mrc Uncertain Tax Positions
UncertainTaxPositions
0
CY2024Q3 us-gaap Equity Method Investments Fair Value Disclosure
EquityMethodInvestmentsFairValueDisclosure
2557471
CY2024Q2 us-gaap Equity Method Investments Fair Value Disclosure
EquityMethodInvestmentsFairValueDisclosure
4703266
CY2024Q3 us-gaap Impairment Of Long Lived Assets To Be Disposed Of
ImpairmentOfLongLivedAssetsToBeDisposedOf
4406249
CY2024Q3 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
1
CY2024Q3 us-gaap Depreciation
Depreciation
1581524
CY2023Q3 us-gaap Depreciation
Depreciation
1129775
CY2024Q3 us-gaap Operating Lease Lease Income Lease Payments
OperatingLeaseLeaseIncomeLeasePayments
4619178
CY2023Q3 us-gaap Operating Lease Lease Income Lease Payments
OperatingLeaseLeaseIncomeLeasePayments
3355790
CY2024Q3 us-gaap Operating Lease Variable Lease Income
OperatingLeaseVariableLeaseIncome
333051
CY2023Q3 us-gaap Operating Lease Variable Lease Income
OperatingLeaseVariableLeaseIncome
204191
CY2024Q3 us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
4952229
CY2023Q3 us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
3559981
CY2024Q3 us-gaap Lessor Operating Lease Payments To Be Received Remainder Of Fiscal Year
LessorOperatingLeasePaymentsToBeReceivedRemainderOfFiscalYear
9594194
CY2024Q3 us-gaap Lessor Operating Lease Payments To Be Received Next Twelve Months
LessorOperatingLeasePaymentsToBeReceivedNextTwelveMonths
10020489
CY2024Q3 us-gaap Lessor Operating Lease Payments To Be Received Two Years
LessorOperatingLeasePaymentsToBeReceivedTwoYears
7960704
CY2024Q3 us-gaap Lessor Operating Lease Payments To Be Received Three Years
LessorOperatingLeasePaymentsToBeReceivedThreeYears
6755787
CY2024Q3 us-gaap Lessor Operating Lease Payments To Be Received Four Years
LessorOperatingLeasePaymentsToBeReceivedFourYears
5802065
CY2024Q3 us-gaap Lessor Operating Lease Payments To Be Received Thereafter
LessorOperatingLeasePaymentsToBeReceivedThereafter
11327022
CY2024Q3 us-gaap Lessor Operating Lease Payments To Be Received
LessorOperatingLeasePaymentsToBeReceived
51460261
CY2024Q3 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
11349308
CY2024Q3 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
4496547
CY2024Q3 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
6852761
CY2024Q3 us-gaap Acquired Finite Lived Intangible Assets Weighted Average Useful Life
AcquiredFiniteLivedIntangibleAssetsWeightedAverageUsefulLife
P4Y9M18D
CY2024Q2 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
10738744
CY2024Q2 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
4168692
CY2024Q2 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
6570052
CY2024 us-gaap Acquired Finite Lived Intangible Assets Weighted Average Useful Life
AcquiredFiniteLivedIntangibleAssetsWeightedAverageUsefulLife
P4Y9M18D
CY2024Q3 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
699232
CY2023Q3 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
429893
CY2024Q3 us-gaap Investment Owned At Fair Value
InvestmentOwnedAtFairValue
3547788
CY2024Q2 us-gaap Investment Owned At Fair Value
InvestmentOwnedAtFairValue
6044430
CY2024Q3 us-gaap Realized Investment Gains Losses
RealizedInvestmentGainsLosses
151370
CY2023Q3 us-gaap Realized Investment Gains Losses
RealizedInvestmentGainsLosses
0
CY2024Q3 us-gaap Investment Owned At Fair Value
InvestmentOwnedAtFairValue
3547788
CY2024Q2 us-gaap Investment Owned At Fair Value
InvestmentOwnedAtFairValue
6044430
CY2024Q3 us-gaap Finance Lease Right Of Use Asset
FinanceLeaseRightOfUseAsset
2283692
CY2024Q2 us-gaap Finance Lease Right Of Use Asset
FinanceLeaseRightOfUseAsset
1799962
CY2024Q3 us-gaap Finance Lease Liability
FinanceLeaseLiability
2431963
CY2024Q2 us-gaap Finance Lease Liability
FinanceLeaseLiability
1887984
CY2024Q3 us-gaap Finance Lease Right Of Use Asset Before Accumulated Amortization
FinanceLeaseRightOfUseAssetBeforeAccumulatedAmortization
2622675
CY2024Q2 us-gaap Finance Lease Right Of Use Asset Before Accumulated Amortization
FinanceLeaseRightOfUseAssetBeforeAccumulatedAmortization
2022675
CY2024Q3 us-gaap Finance Lease Right Of Use Asset Accumulated Amortization
FinanceLeaseRightOfUseAssetAccumulatedAmortization
338983
CY2024Q2 us-gaap Finance Lease Right Of Use Asset Accumulated Amortization
FinanceLeaseRightOfUseAssetAccumulatedAmortization
222713
CY2024Q3 us-gaap Finance Lease Right Of Use Asset
FinanceLeaseRightOfUseAsset
2283692
CY2024Q2 us-gaap Finance Lease Right Of Use Asset
FinanceLeaseRightOfUseAsset
1799962
CY2024Q3 us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
116270
CY2023Q3 us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
20493
CY2024Q3 us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
24967
CY2023Q3 us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
7083
CY2024Q3 us-gaap Lease Cost
LeaseCost
141237
CY2023Q3 us-gaap Lease Cost
LeaseCost
27576
CY2024Q3 us-gaap Finance Lease Liability Payments Remainder Of Fiscal Year
FinanceLeaseLiabilityPaymentsRemainderOfFiscalYear
267706
CY2024Q3 us-gaap Finance Lease Liability Payments Due Next Twelve Months
FinanceLeaseLiabilityPaymentsDueNextTwelveMonths
378742
CY2024Q3 us-gaap Finance Lease Liability Payments Due Year Two
FinanceLeaseLiabilityPaymentsDueYearTwo
388783
CY2024Q3 us-gaap Finance Lease Liability Payments Due Year Three
FinanceLeaseLiabilityPaymentsDueYearThree
399268
CY2024Q3 us-gaap Finance Lease Liability Payments Due Year Four
FinanceLeaseLiabilityPaymentsDueYearFour
563133
CY2024Q3 mrc Finance Lease Liability Payments Due After Year Four
FinanceLeaseLiabilityPaymentsDueAfterYearFour
811288
CY2024Q3 us-gaap Finance Lease Liability Payments Due
FinanceLeaseLiabilityPaymentsDue
2808920
CY2024Q3 us-gaap Finance Lease Liability Undiscounted Excess Amount
FinanceLeaseLiabilityUndiscountedExcessAmount
376957
CY2024Q3 us-gaap Finance Lease Liability
FinanceLeaseLiability
2431963
CY2024Q3 us-gaap Finance Lease Weighted Average Remaining Lease Term1
FinanceLeaseWeightedAverageRemainingLeaseTerm1
P6Y25D
CY2024Q2 us-gaap Finance Lease Weighted Average Remaining Lease Term1
FinanceLeaseWeightedAverageRemainingLeaseTerm1
P5Y9M29D
CY2024Q3 us-gaap Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
0.05
CY2024Q2 us-gaap Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
0.05
CY2024Q3 us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
56021
CY2024 us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
104416
CY2024Q3 us-gaap Right Of Use Asset Obtained In Exchange For Finance Lease Liability
RightOfUseAssetObtainedInExchangeForFinanceLeaseLiability
600000
CY2024 us-gaap Right Of Use Asset Obtained In Exchange For Finance Lease Liability
RightOfUseAssetObtainedInExchangeForFinanceLeaseLiability
1363980
CY2024Q3 mrc Number Of Advisory Agreements
NumberOfAdvisoryAgreements
2
CY2024Q3 mrc Assets Management Fee Expense
AssetsManagementFeeExpense
848458
CY2023Q3 mrc Assets Management Fee Expense
AssetsManagementFeeExpense
787077
CY2024Q3 us-gaap Management Fee Expense
ManagementFeeExpense
181925868
CY2023Q3 us-gaap Management Fee Expense
ManagementFeeExpense
164229944
CY2023Q3 us-gaap Incentive Fee Expense
IncentiveFeeExpense
0
CY2024Q3 us-gaap Incentive Fee Expense
IncentiveFeeExpense
0
CY2023Q3 mrc Number Of Property Limited Partnership
NumberOfPropertyLimitedPartnership
8
CY2024Q3 us-gaap Property Management Fee Revenue
PropertyManagementFeeRevenue
167077
CY2024Q3 us-gaap Leasing Commissions Expense
LeasingCommissionsExpense
310573
CY2024Q3 mrc Number Of Property Limited Partnership
NumberOfPropertyLimitedPartnership
10
CY2024Q3 mrc Direct Operating Costs And Construction Of Tenant Improvements
DirectOperatingCostsAndConstructionOfTenantImprovements
497663
CY2023Q3 us-gaap Property Management Fee Revenue
PropertyManagementFeeRevenue
125750
CY2023Q3 us-gaap Leasing Commissions Expense
LeasingCommissionsExpense
64908
CY2023Q3 mrc Direct Operating Costs And Construction Of Tenant Improvements
DirectOperatingCostsAndConstructionOfTenantImprovements
399771
CY2024Q3 mrc Incurred Offering Costs
IncurredOfferingCosts
1430452
CY2024Q2 mrc Incurred Offering Costs
IncurredOfferingCosts
1385342
CY2024Q3 us-gaap Administrative Fees Expense
AdministrativeFeesExpense
167464
CY2023Q3 us-gaap Administrative Fees Expense
AdministrativeFeesExpense
189183
CY2024Q3 us-gaap Noninterest Expense Transfer Agent And Custodian Fees
NoninterestExpenseTransferAgentAndCustodianFees
1536
CY2023Q3 us-gaap Noninterest Expense Transfer Agent And Custodian Fees
NoninterestExpenseTransferAgentAndCustodianFees
16567
CY2024Q3 mrc Assets Management Fee Expense
AssetsManagementFeeExpense
848458
CY2023Q3 mrc Assets Management Fee Expense
AssetsManagementFeeExpense
787077
CY2024Q3 mrc Due To Related Parties Asset Management Fees
DueToRelatedPartiesAssetManagementFees
0
CY2024Q2 mrc Due To Related Parties Asset Management Fees
DueToRelatedPartiesAssetManagementFees
0
CY2024Q3 us-gaap Administrative Fees Expense
AdministrativeFeesExpense
167464
CY2023Q3 us-gaap Administrative Fees Expense
AdministrativeFeesExpense
189183
CY2024Q3 mrc Due To Related Parties Administrative Cost Reimbursements
DueToRelatedPartiesAdministrativeCostReimbursements
0
CY2024Q2 mrc Due To Related Parties Administrative Cost Reimbursements
DueToRelatedPartiesAdministrativeCostReimbursements
0
CY2024Q3 mrc Asset Acquisition Fees
AssetAcquisitionFees
292000
CY2023Q3 mrc Asset Acquisition Fees
AssetAcquisitionFees
107500
CY2024Q3 mrc Due To Related Parties Asset Acquisition Fees
DueToRelatedPartiesAssetAcquisitionFees
0
CY2024Q2 mrc Due To Related Parties Asset Acquisition Fees
DueToRelatedPartiesAssetAcquisitionFees
0
CY2024Q3 us-gaap Noninterest Expense Transfer Agent And Custodian Fees
NoninterestExpenseTransferAgentAndCustodianFees
1536
CY2023Q3 us-gaap Noninterest Expense Transfer Agent And Custodian Fees
NoninterestExpenseTransferAgentAndCustodianFees
16567
CY2024Q3 mrc Due To Related Parties Transfer Agent Cost Reimbursements
DueToRelatedPartiesTransferAgentCostReimbursements
0
CY2024Q2 mrc Due To Related Parties Transfer Agent Cost Reimbursements
DueToRelatedPartiesTransferAgentCostReimbursements
0
CY2024Q3 mrc Incurred Offering Costs Reimbursement
IncurredOfferingCostsReimbursement
5360
CY2023Q3 mrc Incurred Offering Costs Reimbursement
IncurredOfferingCostsReimbursement
8260
CY2024Q3 mrc Due To Related Parties Organization And Offering Cost
DueToRelatedPartiesOrganizationAndOfferingCost
37229
CY2024Q2 mrc Due To Related Parties Organization And Offering Cost
DueToRelatedPartiesOrganizationAndOfferingCost
79632
CY2024Q3 us-gaap Other Expenses
OtherExpenses
0
CY2023Q3 us-gaap Other Expenses
OtherExpenses
0
CY2024Q3 mrc Other Expenses Due To Related Party
OtherExpensesDueToRelatedParty
77332
CY2024Q2 mrc Other Expenses Due To Related Party
OtherExpensesDueToRelatedParty
91987
CY2024Q3 us-gaap Other Liabilities
OtherLiabilities
114561
CY2024Q2 mrc Other Liabilities Including Liabilities Held For Sale
OtherLiabilitiesIncludingLiabilitiesHeldForSale
171619
CY2024Q1 us-gaap Longterm Construction Loan Current And Noncurrent
LongtermConstructionLoanCurrentAndNoncurrent
17150000
CY2024Q1 mrc Debt Instrument Fixed Rate And Basis Spread On Variable Rate
DebtInstrumentFixedRateAndBasisSpreadOnVariableRate
0.0025
CY2024Q1 mrc Cash Equity To Be Use For The Construction Net Of Out Of Pocket Costs
CashEquityToBeUseForTheConstructionNetOfOutOfPocketCosts
12500000
CY2024Q3 mrc Contingent Liability Related To Guaranty On Mortgage Loans
ContingentLiabilityRelatedToGuarantyOnMortgageLoans
0
CY2024Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-8142679
CY2023Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-4597421
CY2024Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
13345967.15
CY2024Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
13345967.15
CY2023Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
13284673.13
CY2023Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
13284673.13
CY2024Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.61
CY2024Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.61
CY2023Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.35
CY2023Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.35
CY2024Q3 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.125
CY2024Q3 us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
1679460
CY2023Q3 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.125
CY2023Q3 us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
1652688
CY2023Q3 mrc Payments Of Ordinary Dividends Common Stock Before Dividend Reinvestment Plan
PaymentsOfOrdinaryDividendsCommonStockBeforeDividendReinvestmentPlan
1586864
CY2023Q3 mrc Payments For Reinvestment Of Common Stock Dividend Reinvestment Plan
PaymentsForReinvestmentOfCommonStockDividendReinvestmentPlan
443271
CY2024Q3 us-gaap Contractual Obligation
ContractualObligation
18160000
CY2024Q2 us-gaap Contractual Obligation
ContractualObligation
19560000
CY2024Q3 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2024Q3 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
CY2024Q3 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false
CY2024Q3 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false

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0001140361-24-046881.txt Edgar Link pending
0001140361-24-046881-xbrl.zip Edgar Link pending
ef20036685_10q.htm Edgar Link pending
ef20036685_ex31-1.htm Edgar Link pending
ef20036685_ex31-2.htm Edgar Link pending
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