Flagship Communities Real Estate Investment Trust Completes Acquisition of Kentucky and Arkansas MHCs

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[{"type":"text","content":"\n \n \n \n Flagship Communities Real Estate Investment Trust Completes Acquisition of Kentucky and Arkansas 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}\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 Dec. 16, 2021\n \n /CNW/ - Flagship Communities Real Estate Investment Trust (the \"REIT\") (TSX: MHC.U) announced today it has completed the previously-announced acquisition (collectively, the \"Acquisitions\") of three high-quality manufactured housing communities (\"MHCs\") from two separate vendor groups comprising 957 lots for an aggregate purchase price of approximately\n \n US$56.8 million\n \n .\n \n \n The Acquisitions are expected to be immediately accretive to the REIT's adjusted funds from operations per Unit on a leverage neutral basis.\n \n \n \"These acquisitions further demonstrate our ability to execute on our growth strategy of finding stable, high performing communities where we can add value by achieving management efficiencies and leveraging economies of scale,\" said\n \n Kurt Keeney\n \n , President and Chief Executive Officer. \"Both of these acquisitions strengthen our existing footprints in regions where we already operate. We intend to continue sourcing acquisitions in regions where we have a meaningful presence as well as other adjacent markets.\"\n \n \n \n About Flagship Communities Real Estate Investment Trust\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 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 ,\n \n Missouri\n \n , and\n \n Illinois\n \n , including a fleet of manufactured homes for leas...

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