8-K 1 mrc8k07142021.htm FORM 8K

Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): July 13, 2021
(Exact Name of Registrant as Specified in Its Charter)
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(Commission File Number)
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89 Davis Road, Suite 100
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Not Applicable
(Former Name or Former Address, if Changed Since Last Report)

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Securities registered pursuant to Section 12(b) of the Act: None

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). 
Emerging growth company ☐

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Item 5.02
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

(b) Mackenzie Realty Capital Inc. (the “Company”) announced that Mr. Paul F. Koslosky retired from his position as Chief Financial Officer of the Company. The resignation will be effective immediately. Mr. Koslosky retirement is not a result of any disagreement with the Company’s independent auditors or any member of management on any matter of accounting principles or practices, financial statement disclosure or internal controls.

(c) Current Director of Accounting and Financial Reporting, Angche Sherpa, has been promoted to the position of Chief Financial Officer.  Mr. Sherpa was appointed to Chief Financial Officer in July 2021 after the retirement of Mr. Koslosky. He has been employed by the Company’s administrator, MacKenzie Capital Management, LP (“MacKenzie”), since 2012. Prior to his appointment, he was Director of Accounting and Financial Reporting of MacKenzie.

Mr. Sherpa graduated from San Francisco State University in 2006 with a Bachelor of Science degree in Business Administration (Accounting) with high honors. He obtained his CPA license from California Board of Accountancy in January 2011. Prior to joining MacKenzie, he worked as staff auditor from 2007 through 2008 and senior auditor from 2009 through 2012 at a national public accounting firm Moss Adams LLP. During his career at Moss Adams, he led various audit teams involved in auditing financial services companies including private equity, asset management, and real estate investment companies.

Mr. Sherpa has no family relationships with any current director or executive officer of the Company.  Mr. Sherpa was not chosen to succeed Mr. Koslosky as the Company’s Chief Financial Officer pursuant to any arrangement or understanding with other people.

The Company’s officers are not employees of the Company and do not receive direct cash compensation for services rendered to the Company. Mr. Sherpa will only be compensated through their ownership of the Company’s Advisers (MacKenzie Real Estate Advisers, LP and MCM Advisers, LP) and the Company’s Adviser will compensate its Executive Officers out of the fees it pays its Adviser.   Outside of the fees and compensation paid to the Advisers by the Company, Mr. Sherpa does not have any direct or indirect material interests in any transaction with the Company or in any currently proposed transaction to which the Company is a party.


Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Dated: July 14, 2021
 /s/ Robert Dixon
 Robert Dixon