Flagship Communities Real Estate Investment Trust Completes Acquisition of Indiana and Missouri MHCs

About this update from Flagship Communities Real Estate Investment Trust

[{"type":"text","content":"\n \n \n \n Flagship Communities Real Estate Investment Trust Completes Acquisition of Indiana and Missouri MHCs\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}\ntable p, #divContent table p\n{\nmargin: 0px;\nmargin-left: 3.8px;\nfont-size: 8pt !important;\nfont-family: Arial;\ncolor: black;\nmargin-right: 0pt;\n}\ntable th, #divContent table th\n{\nfont-weight: unset !important;\ntext-align: unset !important;\nvertical-align: unset !important;\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 July 2, 2021\n \n /CNW/ - Flagship Communities Real Estate Investment Trust (the \"\n \n REIT\n \n \") (TSX: MHC.U) announced today it has completed the previously-announced acquisition (the \"\n \n Acquisition\n \n \") of two high-quality manufactured housing communities (\"\n \n MHCs\n \n \") comprising 677 lots located in\n \n Indiana\n \n and\n \n Missouri\n \n for a purchase price of approximately\n \n US$66.4 million\n \n .\n \n \n The purchase price of the Acquisition represents a capitalization rate of 5.1% on Year 1 net operating income and is expected to be immediately accretive to the REIT's adjusted funds from operations (\"\n \n AFFO\n \n \") per Unit on a leverage neutral basis.\n \n \n \"These acquisitions continue to demonstrate our ability to apply our proven business model across\n \n the United States\n \n ,\" said\n \n Kurt Keeney\n \n , President and Chief Executive Officer. \"Since the completion of our initial public offering, we have significantly expanded the size and scale of our MHC portfolio and will continue to source acquisitions in our current operating footprint as well as adjacent markets.\"\n \n \n \n About Flagship Communities Real Estate Investment Trust\n \n \n \n Flagship Communities Real Estate Investment Trust is a newly created, 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 h...

More updates from Flagship Communities Real Estate Investment Trust