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BSR REIT Acquiring Strategic Portfolio of 1009 Units in Three Core Texas Markets for $195 Million
BSR REIT Acquiring Strategic Portfolio of 1009 Units in Three Core Texas Markets for $195...
About this update from Bsr Real Estate Investment Trust
[{"type":"text","content":"\n \n \n \n BSR REIT Acquiring Strategic Portfolio of 1009 Units in Three Core Texas Markets for $195 Million\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n REIT also exits\n \n Blytheville, Arkansas\n \n market\n \n \n \n \n LITTLE ROCK, Ark.\n \n and\n \n TORONTO\n \n ,\n \n March 31, 2021\n \n /CNW/ - BSR Real Estate Investment Trust (\"BSR\" or the \"REIT\") (TSX: HOM.U) (TSX: HOM.UN) announced today that it is acquiring a portfolio of three garden style communities in its core\n \n Texas\n \n markets for total consideration of\n \n $195 million\n \n . The REIT is satisfying 100% of the purchase price for the portfolio through its existing credit facility. The addition of the properties is expected to be immediately accretive to the REIT's adjusted funds from operations (\"AFFO\") on a per unit basis.\n \n \n Vale Frisco Apartments is a newly constructed community located in the\n \n Dallas, Texas\n \n submarket of\n \n Frisco\n \n and comprises 349 apartment suites. Located adjacent to the\n \n December 2020\n \n acquisition referred to as Satori Frisco, Vale Frisco received its certificate of occupancy on\n \n March 23, 2021\n \n . Amenities include balconies, resort-style pool, outdoor grilling areas, a two-story fitness center, gaming lounge, theater room, yoga studio, dog park with pet spa, and car care center. All units have nine-foot ceiling heights, granite counter tops and stainless-steel appliances.\n \n \n Adley at Gleannloch Apartments is located in the\n \n Houston, Texas\n \n submarket of\n \n Spring\n \n and comprises 260 apartment suites. The community was constructed in 2019. Amenities include balconies, a social lounge with fireplace and catering kitchen, dog park with pet spa, car care center, resort-style pool, modern fitness center, outdoor kitchens, cinema theater, package delivery room, fenced playground, and business center with meeting rooms. All units have nine-foot ceiling heights, granite counter tops and stainless-steel appliances.\n \n \n Alleia Long Meadow Fa...