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TORONTO, Dec. 16, 2021 /CNW/ – Flagship Communities Real Estate Investment Trust (the “REIT”) (TSX: MHC.U) announced today it has completed the previously-announced acquisition (collectively, the “Acquisitions”) of three high-quality manufactured housing communities (“MHCs”) from two separate vendor groups comprising 957 lots for an aggregate purchase price of approximately US$56.8 million.
The Acquisitions are expected to be immediately accretive to the REIT’s adjusted funds from operations per Unit on a leverage neutral basis.
“These acquisitions further demonstrate our ability to execute on our growth strategy of finding stable, high performing communities where we can add value by achieving management efficiencies and leveraging economies of scale,” said Kurt Keeney, President and Chief Executive Officer. “Both of these acquisitions strengthen our existing footprints in regions where we already operate. We intend to continue sourcing acquisitions in regions where we have a meaningful presence as well as other adjacent markets.”
About Flagship Communities Real Estate Investment Trust
Flagship Communities Real Estate Investment Trust is a newly created, internally managed, unincorporated, open-ended real estate investment trust established pursuant to a…
