Which Business Development Company (“BDC”) had investments in the common stock of at least 25 different nontraded REITs as of September 30, 2018, with a total cost basis of over $22 million?
Answer: MacKenzie Realty Capital, Inc., a nontraded BDC, owned common shares in at least 25 different nontraded REITs as of September 30, 2018. The cost basis of the 19 million shares was $22.6 million as of September 30, 2018, with an estimated fair value of $25.2 million. The BDC’s largest investment among the nontraded REITs was in KBS REIT II, Inc., in which it held 1.6 million shares with a fair value of $6.56 million at that date, and a cost basis of $3.65 per share. The BDC also owned 14.7 million shares of Highlands REIT, Inc. with a cost basis of $0.197 per share.
