MacKenzie Completes Tender Offer of American Finance Trust Shares

MacKenzie Realty Capital Inc., a non-traded business development company, purchased a total of 19,154.16 shares of American Finance Trust at a purchase price of $16 per share.

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 33,308 holders of record owning a total of 66.5 million shares.

As previously reported by The DI Wire, MacKenzie offered to purchase up to 150,000 shares of the REIT’s common stock.

American Finance Trust shares 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 approved the most recent NAV of $24.17 per share in May 2015.

American Finance Trust’s portfolio consists of 463 office, retail, and distribution properties totaling 13.1 million square feet with an aggregate purchase price of $2.2 billion. The properties are 100 percent leased to 43 tenants.

MacKenzie Capital Management LP, a real estate investment management business based in Moraga, CA, 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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