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RELATED PARTY TRANSACTIONS (Tables)
 12 Months Ended
Jun. 30, 2025
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
  
December 31, 2024
   $
20,000,000
     $
80,000,000
     $
82,656,576
     $
182,656,576
  
March 31, 2025
   $
20,000,000
     $
80,000,000
     $
84,816,443
     $
184,816,443
  
June 30, 2025
   $
20,000,000
     $
80,000,000
     $
87,749,115
     $
187,749,115
  
                                 
Quarter ended:
                                
September 30, 2023
  
$
20,000,000
    
$
80,000,000
    
$
64,229,944
    
$
164,229,944
  
December 31, 2023
   $
20,000,000
     $
80,000,000
     $
64,735,338
     $
164,735,338
  
March 31, 2024
   $
20,000,000
     $
80,000,000
     $
74,236,629
     $
174,236,629
  
June 30, 2024
   $
20,000,000
     $
80,000,000
     $
78,833,574
     $
178,833,574
  
Related Party Expenses
The table below outlines the related party expenses incurred for the years ended June 30, 2025 and 2024, and unpaid as of June 30, 2025 and 2024.
   
Year ended
    
Unpaid as of
  
Types and Recipient
  
June 30, 2025
    
June 30, 2024
    
June 30, 2025
    
June 30, 2024
  
                         
Asset management fees- the Real Estate Adviser
  
$
3,449,487
    
$
3,224,834
    
$
-
    
$
-
  
Administrative cost reimbursements- MacKenzie
    
669,855
      
756,733
      
-
      
-
  
Asset acquisition fees- the Real Estate Adviser (1)
    
292,000
      
1,075,048
      
-
      
-
  
Transfer agent cost reimbursements - MacKenzie
    
6,145
      
66,267
      
-
      
-
  
Organization & Offering Cost (2) - MacKenzie
    
49,680
      
102,871
      
49,680
      
79,632
  
Other expenses (3)- MacKenzie and Subsidiary’s GPs
    
-
      
-
      
118,084
      
91,987
  
Due to related entities
                 
$
167,764
    
$
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 year ended June 30, 2025 was for the acquisition of Green Valley Medical Center in August 2024. The acquisition fee paid during the year ended June 30, 2024 was for the acquisition of 220 Campus Lane Office Building and Campus Lane Land in September 2023, Green Valley Executive Center in January 2024 and One Harbor Center in May 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.