MacKenzie Completes Tender Offer for Sentio Healthcare Properties

MacKenzie Realty Capital Inc., a non-traded business development company, purchased a total of 9,519 shares of Sentio Healthcare Properties for $5.00 per share, or approximately 0.08 percent of the total outstanding shares.

Sentio Healthcare Properties is a publicly registered non-traded real estate investment trust. Its most recent valuation, declared in February 2014, estimated that the stock was worth $11.63 per share.

As reported by The DI Wire in February, MacKenzie offered to purchase up to 600,000 shares of Sentio’s common stock, or 5.22 percent of the outstanding shares. However, the REIT’s board unanimously determined that the tender offer was not in the best interests of Sentio or its stockholders and recommended a rejection of the offer.

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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