MacKenzie Declares Special Dividend

MacKenzie Realty Capital Inc., a real estate investment firm, has declared a special dividend for the second quarter 2015.

The special dividend results largely from the sale of Apple Hospitality REIT (NYSE: APLE) stock acquired by MacKenzie via a tender offer prior to the listing of the formerly non-traded REIT’s shares on the New York Stock Exchange on May 18. Shareholders of record as of June 30, 2015 will receive a total dividend equal to $0.30 per share, and will be paid on or about August 20, 2015 in cash or reinvested in stock for those participating in the dividend reinvestment plan.

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

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