Flagship Communities Real Estate Investment Trust Expands Presence in Key Markets

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[{"type":"text","content":"Flagship Communities Real Estate Investment Trust Expands Presence in Key MarketsACQUIRES FOUR COMMUNITIES IN INDIANA AND OHIO FOR TOTAL CONSIDERATION OF US$79 MILLION\n\n\n\n\n Not for distribution to U.S. newswire services or dissemination in the United States.\n \n\n\n TORONTO, Nov. 03, 2025 (GLOBE NEWSWIRE) -- Flagship Communities Real Estate Investment Trust (TSX:MHC.U) (TSX:MHC.UN) (“Flagship” or the “REIT”) today announced two strategic acquisitions for total consideration of US$79 million, expanding its presence in both Indiana and Ohio (the “Acquisitions”). The Acquisitions are expected to be immediately accretive to the REIT’s adjusted funds from operations (“AFFO”) on a per Unit basis.\n \n\n Flagship completed the acquisition of a manufactured housing community (“MHC”) in Seymour, Indiana, for total consideration of approximately US$45 million, which will be funded primarily through new debt financing sources. Additionally, the REIT also waived due diligence on the acquisition of an MHC portfolio in the Greater Cincinnati, Ohio market, comprised of three separate MHCs for total consideration of US$34 million, which is expected to close in November 2025. This acquisition will be funded through the assumption of US$14.3 million of debt at a weighted average interest rate of 2.84% as well as additional debt financing sources. The Acquisitions are being funded with a new US$70 million unsecured term loan.\n \n\n The Seymour MHC is comprised of 744 lots of which 91.2% are occupied and includes 85 lots for future expansion, representing occupancy upside potential and lot expansion opportunities. The Greater Cincinnati MHCs are comprised of 496 lots across three MHCs, of which 65.5% are occupied. The Acquisitions are consistent with Flagship’s strategy of acquiring under-performing MHCs with significant vacancy and adding value through occupancy growth and lot expansion.\n \n\n “These strategic Acquisitions expand Flagship’s presence in our key markets of Indiana and Ohio, thereby enabling us to generate economies of scale and operational synergies,” said Kurt Keeney, President and Chief Executive Officer. “Through the installation of new amenities and the potential to add 8...

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