Home Real Estate Flagship Communities Real Estate Investment Trust Announces Closing of Approximately US$46.5 Million...

Flagship Communities Real Estate Investment Trust Announces Closing of Approximately US$46.5 Million Equity Offering

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TORONTO, Nov. 18, 2021  /CNW/ – Flagship Communities Real Estate Investment Trust (the “REIT” or “Flagship“) (TSX: MHC.U) announced today that it has completed its previously announced public offering (the “Offering“) of 2,415,000 trust units (the “Units“), inclusive of 315,000 Units issued pursuant to the exercise, in full, of the underwriters’ over-allotment option, on a bought deal basis at a price of US$19.25 per Unit for total gross proceeds to the REIT of approximately US$46.5 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 a portion of the approximately US$56.8 million purchase price for the REIT’s previously announced acquisition of three high-quality manufactured housing communities comprising 957 lots…

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