Flagship Communities REIT Acquires Two RV Resort Communities in Core Markets

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[{"type":"text","content":"\n \n \n \n Flagship Communities REIT Acquires Two RV Resort Communities in Core Markets\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 \n \n \n \n TORONTO\n \n \n ,\n \n Oct. 25, 2021\n \n \n /CNW/ - Flagship Communities Real Estate Investment Trust (\"Flagship\" or the \"REIT\")\n \n \n (TSX: MHC.U) announced today the acquisition of two RV Resort communities (the \"Acquisitions\") for an aggregate purchase price of approximately\n \n US$8.35 million\n \n . The Acquisitions are located in highly desirable areas within Flagship's core markets of\n \n Northern Kentucky\n \n and\n \n Central Ohio\n \n and are expected to be immediately accretive to the REIT's adjusted funds from operations (\"AFFO\") on a per unit basis with additional above market growth over time.\n \n \n \n \n \"We are continuing to grow our geographic footprint near current communities, applying our successful business model with strategic acquisitions,\" said\n \n Kurt Keeney\n \n , President and Chief Executive Officer. \"These acquisitions are located within existing markets where the previous owners have operated successfully for over 47 years. We look forward to continuing the RV resort communities founders' legacy of providing high quality, family-friendly communities.\"\n \n \n \n \n The purchase price of\n \n US$8.35 million\n \n will be funded with cash on the REIT's balance sheet.\n \n \n \n \n \"These new properties will provide us operating economies of scale within our current geographic areas and provides new locations in highly desirable recreational areas within our target markets,\" said\n \n Nathan Smith\n \n , Chief Investment Officer. \"These stable, high performing communities are an excellent addition to our portfolio.\"\n \n \n \n \n \n Overview of the Acquisitions\n \n \n \n \n \n \n Glacier Hill Lakes RV Resort\n \n \n \n \n \n Located along I-75 between\n \n Dayton\n \n and\n \n Toled...

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