Flagship Communities REIT has paid $66.4 million for two high-quality manufactured housing communities comprising 677 lots, located in Anderson, Ind., and St. Louis, Mo.
“We continue to execute on our stated growth strategy, as we further expand the REIT’s footprint in our core markets and strategically enter into new adjacent markets,” said Kurt Keeney, president and CEO. “These new acquisitions, along with the acquisitions announced and completed since the date of our initial public offering, have significantly enhanced the scale of our portfolio. The acquisition in Anderson will strengthen the REIT’s footprint in our existing core market of Indiana, while the acquisition in St. Louis will represent the REIT’s strategic entry into the adjacent Missouri market. The acquisitions and the offering will result in an increased unencumbered asset pool that will provide additional flexibility for the REIT to continue to execute on our acquisition pipeline, which continu
