Flagship Communities Real Estate Investment Trust Expands Presence in Kentucky With Acquisition of 504-lot Manufactured Housing Community

Core Viewpoint - Flagship Communities Real Estate Investment Trust has acquired a 504-lot manufactured housing community in Georgetown, Kentucky, which is expected to enhance its adjusted funds from operations per unit and will be financed through cash and assumed debt [2][4]. Acquisition Details - The acquisition involves a manufactured housing community that has undergone significant improvements since 2022, including the removal of approximately 50 older homes and the installation of new amenities [3]. - The community features new amenities such as two municipal-grade playgrounds, four basketball courts, a dog park, and a community center, with an occupancy rate of 71.8%, indicating potential for increased occupancy [4]. Strategic Alignment - The acquisition aligns with the company's growth strategy by sourcing high-quality opportunities within its existing operational footprint, allowing for economies of scale and operational synergies [4]. - The community is strategically located near major employers and highly rated schools, enhancing its attractiveness to potential residents [5]. Company Overview - Flagship Communities Real Estate Investment Trust operates affordable residential manufactured housing communities primarily serving working families seeking affordable home ownership across several states, including Kentucky, Indiana, and Ohio [6].