Flagship Communities Real Estate Investment Trust Announces Closing of US$81.0 Million Equity Offering

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[{"type":"text","content":"\n \n \n \n Flagship Communities Real Estate Investment Trust Announces Closing of US$81.0 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 \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 June 14, 2021\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 4,500,000 trust units (the \"\n \n Units\n \n \"), inclusive of 500,000 Units issued pursuant to the exercise of the over-allotment option, on a bought deal basis at a price of\n \n US$18.00\n \n per Unit for total gross proceeds to the REIT of\n \n US$81.0 million\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 the purchase price of the REIT's previously announced acquisition of two high-quality manufactured housing communities comprising 677 lots for an aggregate purchase price of approximately\n \n US$66.4 million\n \n (exclusive of closing and transaction adjustments) (collectively, the \"\n \n Acquisitions\n \n \") and to fund future acquisitions and for general business purposes.\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 Arkansas\n \n and\n \n Missouri\n \n ; including a fleet of manufactured homes for lease to ...

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