Toronto-based Flagship Communities REIT acquires $93M US MHCs, expands presence in Tennessee, enters West Virginia.
Toronto-based Flagship Communities REIT announced its largest acquisition in history, a $93M deal for 7 US MHCs and 1,253 lots, expected to close by May 15, 2024. The deal strengthens its presence in Tennessee, expands into West Virginia, and is funded through a $60M trust units offering and new debt financing. The acquisitions are expected to be accretive to the REIT's FFO on a leverage-neutral basis.
April 17, 2024
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