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MacKenzie Purchases 43,000 Shares of American Finance Trust for $16.50 Each

MacKenzie Realty Capital Inc., a non-traded business development company, purchased approximately 43,048 shares of American Finance Trust for $16.50 each. In August, The DI Wire reported that MacKenzie offered to purchase up to 200,000 shares of the REIT’s common stock for $3.3 million.

American Finance Trust, a publicly registered non-traded real estate investment trust sponsored by AR Global and formerly known as American Realty Capital Trust V, has 33,360 holders of record owning a total of 66.1 million shares. Combined with previous offers, MacKenzie now owns a total of 69,927 shares, or approximately 0.11 percent of the total outstanding shares.

Shares of American Finance Trust were originally sold to investors for $25.00 each, prior to the close of the offering in October 2013. The REIT’s board of directors, which approved a net asset value of $24.17 per share in May 2015, previously recommended that shareholders reject the offer.

American Finance Trust’s portfolio consists of 459 office, retail, and distribution properties totaling 13.1 million square feet with a total purchase price of $2.2 billion. The portfolio is 100 percent leased with a weighted-average remaining lease term of 9.6 years.

MacKenzie Capital Management LP, a real estate investment management business based in Moraga, California, is the sponsor of MacKenzie Realty Capital and has specialized in the area of discounted real estate securities and asset management since its formation in 1982.


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