RELATED PARTY TRANSACTIONS (Tables)

3 Months Ended

Sep. 30, 2024

RELATED PARTY TRANSACTIONS [Abstract]

Annual Asset Management Fees

The asset management fees mentioned above were based on the following quarter ended Invested Capital segregated in three columns based on the annual fee rate:

Asset Management Fee Annual %		3.0%		2.0%		1.5%	Total Invested Capital
Quarter ended:
September 30, 2024	$	20,000,000	$	80,000,000	$	81,925,868	$	181,925,868
Quarter ended:
September 30, 2023	$	20,000,000	$	80,000,000	$	64,229,944	$	164,229,944

Related Party Expenses

The table below outlines the related party expenses incurred for the three months ended September 30, 2024 and 2023, and unpaid as of September 30, 2024, and June 30, 2024.

	Three Months Ended				Unpaid as of
Types and Recipient	September 30, 2024		September 30, 2023		September 30, 2024		June 30, 2024
Asset management fees- the Real Estate Adviser	$	848,458	$	787,077	$	-	$	-
Administrative cost reimbursements- MacKenzie		167,464		189,183		-		-
Asset acquisition fees- the Real Estate Adviser (1)		292,000		107,500		-		-
Transfer agent cost reimbursements - MacKenzie		1,536		16,567		-		-
Organization & Offering Cost (2) - MacKenzie		5,360		8,260		37,229		79,632
Other expenses (3)- MacKenzie and Subsidiary’s GPs		-		-		77,332		91,987
Due to related entities					$	114,561	$	171,619

⁽¹⁾ Asset acquisition fees paid to the Real Estate Adviser were capitalized as a part of the real estate basis in accordance with our policy. The acquisition fee paid during the three months ended September 30, 2024 was for the acquisition of Green Valley Medical Center in August 2024.

⁽²⁾ Offering costs paid by MacKenzie - discussed in this Note under organization and offering costs reimbursements.

⁽³⁾ Expenses paid by MacKenzie and General Partner of a subsidiary on behalf of us and subsidiary.