FLAGSHIP COMMUNITIES REAL ESTATE INVESTMENT TRUST ANNOUNCES CASH DISTRIBUTION INCREASE

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[{"type":"text","content":"\n \n \n \n FLAGSHIP COMMUNITIES REAL ESTATE INVESTMENT TRUST ANNOUNCES CASH DISTRIBUTION INCREASE\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 /NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR DISSEMINATION IN\n \n THE UNITED STATES\n \n ./\n \n \n \n \n \n TORONTO\n \n \n ,\n \n \n Nov. 15, 2023\n \n \n /CNW/ - Flagship Communities Real Estate Investment Trust (\"Flagship\" or the \"\n \n REIT\n \n \") (TSX: MHC.U) (TSX: MHC.UN) announced today that its Board of Trustees has approved an approximately 5% increase to its monthly cash distribution to unitholders to US$0.049 per REIT unit or US$0.59 per REIT unit on an annualized basis. The new monthly cash distribution will commence on or about\n \n December 15, 2023\n \n to unitholders of record as of the close of business on\n \n November 30, 2023\n \n .\n \n \n \"We are excited to be in a position to increase our monthly cash distribution for a third consecutive year,\" said\n \n Kurt Keeney\n \n , President and Chief Executive Officer. \"Our results year-to-date speak to both the strong fundamentals of our business as well as the Manufactured Housing Community (\"MHC\") industry, which has a track record of outperformance relative to all other real estate asset classes. By being the only pure play MHC investment in the Canadian capital markets, we provide investors with an opportunity to participate in a niche and stable market with significant upside potential.\"\n \n \n Distributions paid to Canadian unitholders (and other non-U.S. unitholders) generally will be subject to U.S. withholding tax. Unitholders should consult their own tax advisors for advice with respect to the tax consequences of receiving a distribution from the REIT in their own circumstances.\n \n \n \n About Flagship Communities Real Estate Investment Trust\n \n \n \n Flagship Communities Real Estate Investment Trust is an internally managed, unincorporated, open-ended real estate investment trust established pursuant to a declaration of trust...

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