Flagship Communities Real Estate Investment Trust Announces Largest Acquisition in the REIT’s History
TORONTO, April 17, 2024 (GLOBE NEWSWIRE) -- Flagship Communities Real Estate Investment Trust (“Flagship” or the “REIT”) (TSX: MHC.U; MHC.UN) today announced that it has entered into agreements to acquire (the “Acquisitions”) a total of seven manufactured housing communities (“MHCs”), comprising 1,253 lots, for an aggregate purchase price of approximately US$93.0 million (the “Purchase Price”). The Acquisitions are expected to close on or about May 15, 2024, subject to customary closing conditions.
- TORONTO, April 17, 2024 (GLOBE NEWSWIRE) -- Flagship Communities Real Estate Investment Trust (“Flagship” or the “REIT”) (TSX: MHC.U; MHC.UN) today announced that it has entered into agreements to acquire (the “Acquisitions”) a total of seven manufactured housing communities (“MHCs”), comprising 1,253 lots, for an aggregate purchase price of approximately US$93.0 million (the “Purchase Price”).
- “These acquisitions are the largest in the REIT’s history to date and represent a milestone for our business as we continue to execute on our stated growth strategy,” said Kurt Keeney, President and CEO.
- The Murfreesboro, Tennessee acquisition comprises 173 lots across approximately 26 acres and is located 35 miles south of downtown Nashville.
- The communities are located adjacent to Interstates 64 and 77, providing excellent access to major transportation routes.