FLAGSHIP COMMUNITIES REAL ESTATE INVESTMENT TRUST TO ACQUIRE RESORT-STYLE MANUFACTURED HOUSING COMMUNITY IN KEY MARKET OF OHIO

About this update from Flagship Communities Real Estate Investment Trust

[{"type":"text","content":"\n \n \n \n FLAGSHIP COMMUNITIES REAL ESTATE INVESTMENT TRUST TO ACQUIRE RESORT-STYLE MANUFACTURED HOUSING COMMUNITY IN KEY MARKET OF OHIO\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 \n TORONTO\n \n \n ,\n \n \n Nov. 22, 2022\n \n \n /CNW/ - Flagship Communities Real Estate Investment Trust (\"\n \n Flagship\n \n \" or the \"\n \n REIT\n \n \") (TSX: MHC.U) (TSX: MHC.UN) today announced it has agreed to acquire a resort-style Manufactured Housing Community (\"\n \n MHC\n \n \") in the key market of\n \n Marblehead Ohio\n \n , where Flagship has an existing market presence for approximately\n \n US$7.8 million\n \n . The\n \n Marblehead\n \n community is fully occupied, comprising 100 lots with each home including a boat slip as well as access to a community swimming pool.\n \n \n \"This is our second major acquisition of a resort-style MHC in northern\n \n Ohio\n \n ,\" said\n \n Kurt Keeney\n \n , President and Chief Executive Officer. \"As well as expanding our presence in a key market, the addition of the\n \n Marblehead\n \n community enables us to continue to offer homeowners with a quality community in a highly-desirable resort area.\"\n \n \n \n Marblehead\n \n is a residential MHC located on a channel leading to\n \n Lake Erie\n \n in northern\n \n Ohio\n \n . The 20-acre community is steps away from the Great Egret Marsh Nature Preserve and East Harbor State Park, a short drive to Marblehead Lighthouse State Park and Lake Point State Park, a drive-through African Safari Wildlife Park, as well as numerous historical sites as well as restaurants, shopping, and wineries. It is also a short drive to the Cedar Point Amusement Park.\n \n \n \"The purchase of the\n \n Marblehead\n \n property speaks to the strong fundamentals and acquisition opportunities that exist within the MHC industry,\" said\n \n Nathan Smith\n \n , Chief Investment Officer. \"Flagship seeks accretive opp...

More updates from Flagship Communities Real Estate Investment Trust