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BSR REIT Completes Acquisition of Wimberly Apartments in Dallas-Fort Worth
BSR REIT Completes Acquisition of Wimberly Apartments in Dallas-Fort Worth Canada ...
About this update from Bsr Real Estate Investment Trust
[{"type":"text","content":"\n\n\n\nBSR REIT Completes Acquisition of Wimberly Apartments in Dallas-Fort Worth\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.prngen2{\nBORDER-TOP:black 0pt; BORDER-RIGHT:black 0pt; VERTICAL-ALIGN: BOTTOM; BORDER-BOTTOM:black 0pt; PADDING-LEFT:0.50em; BORDER-LEFT:black 0pt; PADDING-RIGHT:0.50em\n}\n.prnsbt0{\nBORDER-TOP:0pt\n}\n.prnsbr0{\nBORDER-RIGHT:0pt\n}\n.prnbcc{\nBORDER-COLLAPSE: COLLAPSE\n}\n.prnsbl0{\nBORDER-LEFT:0pt\n}\n.prnsbb0{\nBORDER-BOTTOM:0pt\n}\n\n\n\n\n\n\n\nCanada NewsWire\nLITTLE ROCK, AR and TORONTO, March 27, 2019\n\n\n\nLITTLE ROCK, AR and TORONTO, March 27, 2019 /CNW/ - BSR Real Estate Investment Trust (\"BSR\" or the \"REIT\") (TSX: HOM.U) announced today that it has completed the purchase of Wimberly Apartments (\"Wimberly\" or the \"Property\"), in Dallas, Texas for US$53.1 million. Wimberly Apartments are located in North Dallas, close to the high traffic interchange of the George Bush Turnpike and Dallas North Tollway. The purchase is expected to be immediately accretive to the REIT's adjusted funds from operations1 (\"AFFO\") on a per unit basis. \nWimberly, built in 1995, is a 372-unit multifamily complex located on approximately 16.8 acres, and comprising eighteen three-story apartment buildings. This is BSR's fourth property in the Dallas-Fort Worth MSA (\"DFW\"), an area the REIT has targeted for acquisitions. With the addition of Wimberly, BSR now owns 1,492 units in DFW, representing approximately 18% of the REIT's net operating income1 (\"NOI\"). \nWimberly is also the REIT's fourth property acquisition since completing its initial public offering (\"IPO\") on the Toronto Stock Exchange in May 18, 2018. Other acquisitions since the IPO include Brandon Place in Oklahoma City, Towne Park in Springdale Arkansas, and Riverhill in Grand Prairie Texas. These acquisitions have added a combined 1,143 units in under 11 months to the REIT's portfolio, which now includes 51 multifamily properties comprising 10,823 units.\nAbout BSR Real Estate Investment Trust\nBSR Real Estate Investment Trust is an internally managed, unincorporated, open-ended real e...