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MacKenzie Offers $16.00 Per Share of ARC’s American Finance Trust

March 18, 2016

Mar 16 2016 | by DI Wire

MacKenzie Realty Capital Inc., a non-traded business development company, made a tender offer for up to 150,000 shares of common stock in American Finance Trust Inc. for $16.00. The offer expires on April 29, 2016.

American Finance Trust, a publicly registered non-traded real estate investment trust sponsored by AR Capital and formerly known as American Realty Capital Trust V, has 33,308 holders of record owning a total of 66.5 million shares.

MacKenzie does not currently own any interest in the REIT and would pay $2.4 million if all 150,000 shares are tendered. The tender offer equals 0.23 percent of the outstanding shares.

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