RELATED PARTY TRANSACTIONS (Tables)

3 Months Ended

Sep. 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, 2025	$	20,000,000	$	80,000,000	$	90,460,712	$	190,460,712
Quarter ended:
September 30, 2024	$	20,000,000	$	80,000,000	$	81,925,868	$	181,925,868

Related Party Expenses

The table below outlines the related party expenses incurred for the three months ended September 30, 2025 and 2024, and unpaid as of September 30, 2025, and June 30, 2025.

	Three Months Ended September 30,				Unpaid as of
Types and Recipient	2025		2024		September 30, 2025		June 30, 2025
Asset management fees - the Real Estate Adviser	$	884,766	$	848,458	$	-	$	-
Administrative cost reimbursements - MacKenzie		220,250		167,464		-		-
Asset acquisition fees - the Real Estate Adviser (1)		-		292,000		-		-
Transfer agent cost reimbursements - MacKenzie		-		1,536		-		-
Organization & Offering Cost (2) - MacKenzie		48,757		5,360		98,437		49,680
Other expenses (3) - MacKenzie and Subsidiary’s GPs		-		-		107,881		118,084
Due to related entities					$	206,318	$	167,764

⁽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.