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MacKenzie Realty announces results of tender offer for American Finance common shares

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MacKenzie Realty announces results of tender offer for American Finance common shares

MacKenzieRealty Capital Inc. announced the results of its cash to purchase up to200,000 American Finance TrustInc. common shares at $16.50 apiece.

MacKenzie accepted for payment a total of about 43,048.157shares. Upon completion of the offer, MacKenzie and its affiliates held anaggregate of approximately 69,927.667 shares, or approximately 0.107% of thetotal outstanding American Finance common shares.

American Finance's boardhad unanimously recommended that shareholders MacKenzie's tender offer becausethe offer price is 32% lower than the company's $24.17 estimated per-share NAVas of Dec. 31, 2015. It also mentioned its strategic review as a reason, among others, to rejectthe offer.