Flagship Communities REIT closes US$81 million equity offering

On June 14, 2021, Flagship Communities Real Estate Investment Trust (the “REIT”) announced its completed public offering of 4,500,000 units, inclusive of 500,000 units issued pursuant to the ;exercise of the underwriters' over-allotment option, on a bought deal basis at a price of US$18.00 per unit for total gross proceeds of US$81 million. The offering was completed through a syndicate of underwriters co-led by BMO Capital Markets and Canaccord Genuity Corp. ;

The REIT intends to use the net proceeds from the offering to fund the purchase price of its previously announced acquisitions of two manufactured housing communities and to fund future acquisitions and for general business purposes.

Further information can be found on Canada Newswire’s website.

Flagship Communities is an internally managed, unincorporated, open-ended real estate investment trust that own and operate a portfolio of income-producing manufactured housing communities located in Kentucky, Indiana, Ohio, Tennessee, Arkansas and Missouri; including a fleet of manufactured homes for lease to residents of such housing communities.