Flagship Communities Real Estate Investment Trust (TSE:MHC.UN) has released an update.
Flagship Communities Real Estate Investment Trust has successfully closed a US$60 million equity offering, issuing 3,910,000 trust units to help finance the acquisition of seven manufactured housing communities and for general business purposes. The offering, underwritten by BMO Capital Markets and Canaccord Genuity Corp., also includes an over-allotment option for an additional 586,500 units. This strategic move aims to expand Flagship’s portfolio of affordable housing communities across various U.S. states.
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