Board of Directors          

 

Our leadership team provides the vision and strategic insight behind our innovative approach to real estate investing.

 

Our board of directors consists of three members. Two of them are not “interested persons” under Section 2(a)(19) of the 1940 Act, so we refer to them as independent directors.

 

C. E. "PAT" PATTERSON, Chairman of the Board

Mr. Patterson, an MRC director since 2012, is co-founder and Chairman of MacKenzie Capital Management, LP (“MacKenzie”) and MCM Advisers, LP (the “Adviser”), a director of their general partner, and a beneficial owner of all three companies.  Mr. Patterson co-founded the MacKenzie companies in 1982.

 

Mr. Patterson has spent his entire business career in the financial services industry.  In 1965, following his graduation from the University of Oregon with a B.S. degree, he was selected as a junior executive trainee by Merrill Lynch, Pierce, Fenner and Smith, Inc.  This intensive two-year training program was conducted in New York and included “on-the-floor” experience on all the major stock and commodity trading floors in the U.S. and Europe as well as a one-year position in Securities Research.  Subsequently assigned to Merrill’s Oakland, California office, Mr. Patterson had responsibility as an account executive for individual investors through 1971.

 

In 1971, Mr. Patterson joined Eastman Dillon, Union Securities, Inc. with responsibility for Institutional Accounts in San Francisco and Hawaii.  Upon the merger of Blyth & Co. with Eastman Dillon, Mr. Patterson was appointed assistant manager and then resident manager of the firm’s Oakland office.  He became a vice president of the firm in 1975.  During the years 1976 to

1981, Mr. Patterson was associated with Smith Barney, Harris Upham, Inc. as a vice president, sales; Merrill Lynch, Pierce, Fenner and Smith, Inc. as a senior account executive; and Paine Webber, Jackson & Curtis as an account vice president.  During this period his primary responsibility was the counseling of individual clients, but he also was responsible for research and marketing of specialized financial products.

 

In 1981, Mr. Patterson founded Patterson Financial Services, Inc. (now MCM Advisers, LP) with Berniece A. Patterson as a financial planning firm.  He founded Patterson Real Estate Services, a licensed California Real Estate Broker, in 1982.  As Chairman of MCM Advisers, LP, Mr. Patterson is responsible for all investment counseling activities.  He supervises the analysis of investment opportunities for the clients of the firm.  In 1988, Mr. Patterson co-founded the predecessor of MacKenzie.  The MacKenzie acts as the General Partner and MacKenzie to a number of prior investment funds.  Mr. Patterson is the Chairman of MacKenzie.

 

Mr. Patterson is a former Certified Financial Planner, has completed the College of Financial Planning’s Due Diligence course, and is a past member of both the Institute of Certified Financial Planners and the International Association for Financial Planning.

The foregoing information contains, or may be deemed to contain, “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933. These forward-looking statements include all statements regarding the current intent, belief or expectations regarding matters covered and all statements which are not statements of historical fact. By their nature, forward-looking statements involve risks and uncertainties because they relate to events and depend on circumstances that may or may not occur in the future. The future results of MacKenzie Realty Capital, Inc. (the “Fund”) may vary from the results expressed in, or implied by, forward-looking statements, possibly to a material degree. Since these factors can cause results, performance and achievements to differ materially from those discussed in this presentation, you are cautioned not to place undue reliance on the forward-looking statements. Past performance is not indicative of future results. The Fund will update these forward-looking statements to reflect any material changes occurring prior to the completion of the offering. For a discussion of some of the important factors that could cause results to differ from those expressed in, or implied by, the forward-looking statements contained herein, please refer to the Fund’s registration statement (SEC File No. 333-181853) and Annual Report on Form 10-K for the fiscal year ended June 30, 2014, in particular, the “Risk Factors” sections. The forward-looking statements in this document are excluded from the safe harbor protection of Section 27A of the Securities Act of 1933.

 

Risk Factors

The Fund should be considered speculative and involves a high degree of risk including the potential loss of investment. The Fund’s illiquid nature will prevent investors from having access to their money for an indefinite period of time. Investors are subject to stockholders transaction expenses of 13% in addition to annual management fees. The Fund intends to qualify as a REIT, and if it does not qualify, there may be adverse tax consequences.

 

NEITHER THIS PRESENTATION NOR THE CONTENT HEREIN CONSTITUTES AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY THE FUND’S SHARES (WHICH MAY ONLY BE DONE THROUGH THE PROSPECTUS) AND IS NOT INCORPORATED BY REFERENCE INTO THE PROSPECTUS. The Fund is not offering its securities or soliciting any offer to purchase its securities in any state where the offer or sale is not permitted.

 

Prospective investors in the Fund should carefully consider the Fund’s investment objectives, risks, charges and expenses, which are discussed in the Prospectus, before investing. The Prospectus, which contains this and other information about the Fund, is available and should be read carefully before investing. A copy of the Prospectus may be obtained from the Fund by calling 925-631-9100 or 800-854-8357, or by writing to the Fund at 1640 School Street, Moraga, California 94556.

 

THE COMMISSIONER OF CORPORATIONS OF THE STATE OF CALIFORNIA DOES NOT RECOMMEND OR ENDORSE THE PURCHASE OF THE FUND’S SECURITIES.

 

SALES AND ADVERTISING LITERATURE MUST BE READ IN CONJUNCTION WITH THE PROSPECTUS IN ORDER TO UNDERSTAND FULLY ALL OF THE IMPLICATIONS AND RISKS OF THE OFFERING OF SECURITIES TO WHICH IT RELATES. A COPY OF THE PROSPECTUS MUST BE MADE AVAILABLE TO YOU IN CONNECTION WITH ANY OFFERING.

 

Neither the Securities and Exchange Commission nor any state securities commission has approved or disapproved of the Fund’s securities or determined if the information herein or in the Prospectus is truthful or complete. Any representation to the contrary is a criminal offense.

 

Arete Wealth Management, LLC is a member of FINRA (www.finra.org) and SIPC (www.sipc.org)..