Flagship Communities Real Estate Investment Trust Completes Acquisition Of Indiana And Missouri Mhcs
/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES./ TORONTO, July 2, 2021 /CNW/ - Flagship Communities Real Estate Investment Trust (the "REIT") (TSX:MHC) announced today it has completed the previously-announced acquisition (the "Acquisition") of two high-quality manufactured housing communities ("MHCs") comprising 677 lots located in Indiana and Missouri for a purchase price of approximately US$66.4 million. The purchase price of the Acquisition represents a capitalization rate of 5.1% on Year 1 net operating income and is expected to be immediately accretive to the REIT's adjusted funds from operations ("AFFO") per Unit on a leverage neutral basis.
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