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BSR REIT to Acquire Wimberly Apartments Property in Dallas-Fort Worth MSA
BSR REIT to Acquire Wimberly Apartments Property in Dallas-Fort Worth MSA Canada N...
About this update from Bsr Real Estate Investment Trust
[{"type":"text","content":"\n\n\n\nBSR REIT to Acquire Wimberly Apartments Property in Dallas-Fort Worth MSA\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; BORDER-BOTTOM:black 0pt; PADDING-LEFT:0.50em; BORDER-LEFT:black 0pt; PADDING-RIGHT:0.50em\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n.prnsbt0{\nBORDER-TOP:0pt\n}\n.prnbcc{\nBORDER-COLLAPSE: COLLAPSE\n}\n.prnsbl0{\nBORDER-LEFT:0pt\n}\n.prnsbb0{\nBORDER-BOTTOM:0pt\n}\n.prnsbr0{\nBORDER-RIGHT:0pt\n}\n\n\n\n\n\n\n\nCanada NewsWire\nLITTLE ROCK, AR and TORONTO, March 22, 2019\n\n\n\n/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES/\n LITTLE ROCK, AR and TORONTO, March 22, 2019 /CNW/ - BSR Real Estate Investment Trust (\"BSR\" or the \"REIT\") (TSX: HOM.U) announced today that it has entered into an agreement to purchase Wimberly Apartments (\"Wimberly\" or the \"Property\"), in Dallas, Texas for US$53.05 million. The Wimberly Apartments are located in North Dallas, near the high-traffic interchange of the George Bush Turnpike and Dallas North Tollway. This location is in close proximity to the corporate headquarters of American Airlines and other major Dallas-area employers including Liberty Mutual Insurance, JPMorgan Chase, and Toyota USA. The addition of Wimberly is expected to be immediately accretive to the REIT's adjusted funds from operations1 (\"AFFO\") on a per unit basis. The transaction is expected to close by March 29, 2019. \nWimberly, built in 1995, is a 372-unit multifamily complex located on approximately 16.8 acres that comprises eighteen three-story apartment buildings. The community features amenities such as a resort-style pool, grilling stations, outdoor fireplace, attached and detached garages, fitness center and private access gate. The average monthly rent is approximately US$1,104 per unit.\nThe Dallas-Fort Worth Metropolitan Statistical Area (\"MSA\") has one of the fastest-growing populations in the United States and is home to 22 Fortune 500 companies. Following the closing of the Wimberly acquisition, BSR will own four properties in the DFW MSA ...