Mackenzie Realty Capital Inc., a non-traded real estate investment trust, has promoted Angche Sherpa to chief financial officer following the retirement of Paul Koslosky.
Koslosky served as CFO and treasurer of MacKenzie Capital Management, the REIT’s administrator, and its adviser, MCM Advisers, since 2004.
Prior to his promotion, Sherpa served as director of accounting and financial reporting of MacKenzie Capital Management. He joined MacKenzie in 2012, and previously worked as an auditor at 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.
Sherpa graduated from San Francisco State University in 2006 with a bachelor’s degree in business administration, and obtained his certified public accountant license from the California Board of Accountancy in January 2011.
MacKenzie launched its initial public offering in August 2013, and as of March 31, 2020, had raised approximately $130.3 million from its public offerings and dividend reinvestment plan. The company was previously registered as a non-traded business development company, but withdrew its status to focus on real estate investments. In April 2021, the company registered a Regulation A offering to sell up to $50 million of shares of Series A preferred stock at an initial offering price of $25.00 per share.