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Schedule III - Real Estate Properties and Accumulated Depreciation
 12 Months Ended
Jun. 30, 2023
Schedule III - Real Estate Properties and Accumulated Depreciation [Abstract]  
Schedule III - Real Estate Properties and Accumulated Depreciation
MacKenzie Realty Capital, Inc.
Schedule III- Real Estate Properties and Accumulated Depreciation
June 30, 2023

 
  
 
        
Initial Costs
    
Subsequent Acquisition
    
Subsequent Disposal
    
Gross Amount Carried at
        
Property:
  
Acquisition Date
  
Encumbrances at
June 30, 2023
    
Land
    
Building &
Improvements
    
Land
    
Building &
Improvements
    
Land
    
Building &
Improvements
    
June 30, 2023
    
Accumulated
Depreciation
  
 
  
 
                                                      
Commodore Apartment Building
  
March 5, 2021
  
$
6,737,500
    
$
5,519,963
    
$
7,558,560
    
$
-
    
$
68,349
    
$
-
    
$
-
    
$
13,146,872
    
$
(596,684
)
The Park View Building
  
March 5, 2021
    
8,387,500
      
4,317,013
      
11,833,069
      
-
      
94,254
      
-
      
-
      
16,244,336
      
(777,443
)
Hollywood Property
  
October 4, 2021
    
17,404,780
      
8,704,577
      
13,949,357
      
-
      
251,288
      
-
      
-
      
22,905,222
      
(803,507
)
Shoreline Apartments
  
May 16, 2022
    
17,603,428
      
7,559,390
      
20,124,777
      
-
      
305,034
      
-
      
-
      
27,989,201
      
(891,815
)
Satellite Place
  
June 1, 2022
    
-
      
2,966,129
      
10,716,785
      
-
      
194,112
      
-
      
-
      
13,877,026
      
(703,210
)
MRC Aurora (f/k/a WW Land)
  
May 6, 2022
    
-
      
3,050,000
      
-
      
-
      
361,095
      
-
      
-
      
3,411,095
      
-
  
First & Main Office Building   July 23, 2022     11,288,012       966,314       16,917,134       -       34,942       -       -       17,918,390       (428,101 )
1300 Main Office Building   October 1, 2022     8,215,173       805,575       14,567,200       -       76,111       -       -       15,448,886       (253,377 )
Woodland Corporate Center   January 3, 2023     6,827,930       1,840,468       10,208,686       -       3,514       -       -       12,052,668       (192,316 )
Main Street West Office Building   February 1, 2023     14,783,061       1,433,698       25,192,993       -       27,410       -       -       26,654,101       (270,669 )
 
  
       
  
$
91,247,384
 
$
37,163,127
    
$
131,068,561
    
$
-
    
$
1,416,109
    
$
-
    
$
-
    
$
169,647,797
    
$
(4,917,122
)

A summary of activity for real estate and accumulated depreciation for the years ended June 30, 2023 and 2022:

 
  
Year Ended June 30,
  
Real Estate
  
2023
    
2022
  
Balance at the beginning of the year
  
$
96,299,620
    
$
54,641,596
  
Additions - acquisitions
    
73,348,177
      
67,519,697
  
Disposals
    
-
      
(297,017
)
Reclassified to assets held for sale
    
-
      
(25,564,656
)
Balance at the end of the year
  
$
169,647,797
    
$
96,299,620
  
 
                
Accumulated Depreciation
                
Balance at the beginning of the year
  
$
1,181,962
    
$
1,107,466
  
Depreciation expense
    
3,735,160
      
2,866,400
  
Disposals
    
-
      
(49,711
)
Reclassified to assets held for sale *1
    
-
      
(2,742,193
)
Balance at end of the year
  
$
4,917,122
    
$
1,181,962
  

*1
Excludes $2,370,116 of accumulated amortization associated with acquired intangible assets reclassified as held for sale for the year ended June 30, 2022.