Flagship Communities REIT Makes Record Acquisition

Flagship Communities Real Estate Investment Trust (TSE:MHC.UN) has released an update.

Flagship Communities Real Estate Investment Trust has unveiled its biggest acquisition to date, purchasing seven manufactured housing communities for $93 million, marking its expansion into Nashville, Tennessee, and West Virginia. The acquisition, which includes 1,253 lots, is set to close by mid-May 2024, funded through a mix of a $60 million equity offering and new debt. This strategic move is anticipated to enhance the company’s earnings and operational scale significantly, offering substantial growth potential in these new markets.

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