"We are continuing to leverage our regional management structure and proven operating model to support another acquisition in the Illinois market," said Nathan Smith, Chief Investment Officer. The purchase price of US$6.25 million will be funded with cash on the REIT’s balance sheet. "This well-located property is our second in the Springfield, Illinois market and will be immediately accretive to our AFFO per unit with above-market growth over time." "This acquisition is aligned with our disciplined business strategy to increase our presence in core states and branch out into adjacent regions with attractive acquisitions that enhance our portfolio," said Kurt Keeney, President and Chief Executive Officer. The Acquisition is subject to customary closing conditions and is expected to close on or about May 29, 2022. The Acquisition is 89% occupied and is expected to be immediately accretive to the REIT’s adjusted funds from operations ("AFFO") on a per unit basis. TORONTO, Ap/CNW/ – Flagship Communities Real Estate Investment Trust ("Flagship" or the "REIT") (TSX: MHC.U) announced today that it will add a second Illinois community to its portfolio with the acquisition of a Riverton Illinois manufactured housing community, located in suburban Springfield Illinois, (the "Acquisition") for a purchase price of approximately US$6.25 million. NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES./
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