MacKenzie Completes Sentio Healthcare Properties Tender Offer

MacKenzie Realty Capital Inc., a publicly registered non-traded business development company, purchased 13,130 shares of Sentio Healthcare Properties common stock for $7.00 each.

In August, The DI Wire reported that MacKenzie offered to purchase up to 600,000 shares of the non-traded REIT and was willing to pay a total purchase price of $4.2 million for 5.21 percent of the outstanding shares. MacKenzie now owns a total of approximately 26,169 shares, or approximately 0.23 percent of the total outstanding.

Sentio Healthcare Properties, a publicly registered non-traded REIT, previously disclosed an estimated net asset value of $12.45 per share, as of December 31, 2015. Shares in the initial public offering were originally sold for $10.00 each.

Sentio Healthcare Properties closed its initial public offering in February 2011 after raising $123.9 million in investor equity. The company also raised $8.4 million in a follow-on offering that closed in June 2013, and continues to offer shares to existing stockholders through their distribution reinvestment plan. The company, which owns 34 properties, invests in senior living properties, triple net leased healthcare properties and medical office buildings.

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.

For more MacKenzie related news, visit their directory listing here.