Flagship Communities Real Estate Investment Trust Announces Closing of Approximately US$46.5 Million Equity Offering

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[{"type":"text","content":"\n \n \n \n Flagship Communities Real Estate Investment Trust Announces Closing of Approximately US$46.5 Million Equity Offering\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 TORONTO\n \n ,\n \n Nov. 18\n \n ,\n \n \n 2021\n \n \n /CNW/ - Flagship Communities Real Estate Investment Trust (the \"\n \n REIT\n \n \" or \"\n \n Flagship\n \n \") (TSX: MHC.U) announced today that it has completed its previously announced public offering (the \"\n \n Offering\n \n \") of 2,415,000 trust units (the \"\n \n Units\n \n \"), inclusive of 315,000 Units issued pursuant to the exercise, in full, of the underwriters' over-allotment option, on a bought deal basis at a price of\n \n US$19.25\n \n per Unit for total gross proceeds to the REIT of approximately\n \n US$46.5 million\n \n .\n \n \n The Offering was completed through a syndicate of underwriters co-led by BMO Capital Markets and Canaccord Genuity Corp.\n \n \n The REIT intends to use the net proceeds from the Offering to fund a portion of the approximately\n \n US$56.8 million\n \n purchase price for the REIT's previously announced acquisition of three high-quality manufactured housing communities comprising 957 lots (the \"\n \n Acquisitions\n \n \").\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 under the laws of the Province of\n \n Ontario\n \n . The REIT has been formed to own and operate a portfolio of income-producing manufactured housing communities located in\n \n Kentucky\n \n ,\n \n Indiana\n \n ,\n \n Ohio\n \n ,\n \n Tennessee\n \n ,\n \n Illinois\n \n ,\n \n Arkansas\n \n , and\n \n Missouri\n \n ; including a fleet of manufactured homes for lease to residents of such housing communities.\n \n \n \n Forward...

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