Flagship Communities Real Estate Investment Trust
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in mil. unless spec.Company Description
- CEO
- Kurtis Keeney
- Full Time Employees
- 230
- Sector
- Real Estate
- Industry
- REIT - Residential
- Address
- 2220 Grandview Dr. Fort Mitchell KY United States of America 41017
- IPO Date
- Dec 1, 2020
- CIK
- 0001829407
- Website
- flagshipcommunities.com
- Similar Companies
- Business
- Flagship Communities Real Estate Investment Trust (TSX: MHC.U; OTC: MHCUF) is an internally managed, open-ended real estate investment trust that owns and operates a portfolio of income-producing manufactured housing communities (MHCs) and related assets, including a fleet of manufactured homes available for lease to residents. The REIT's core offerings comprise lot rentals within MHCs, manufactured home rentals, and ancillary services such as community management, infrastructure maintenance, and value-enhancing capital investments; its properties include branded communities like Anderson Pointe, Hilltop Pointe, Woodland Acres Pointe, Carolina Pointe, Heritage Hills Pointe East, Heritage Hills Pointe West, Amberley Pointe, Berkshire Pointe, Indian Oaks Pointe, Pin Oak Pointe, Applewood Pointe, Candlelight Pointe, Glacier Hill RV Resort, Harmony Pointe, Redwood Pointe, Hummingbird Hills Pointe, White Pines Pointe, and West Harbor Cove Pointe, among others. Strategically concentrated in stable Midwest and Southern U.S. markets with favorable demographics, employment trends, and regulatory environments, the communities are located across eight contiguous states including Kentucky, Indiana, Ohio, Tennessee, Illinois, Arkansas, Missouri, and West Virginia, targeting residents seeking affordable housing through a land-lease model. Founded in 1995 and publicly listed on the Toronto Stock Exchange since 2020, the REIT maintains its head office in Fort Mitchell, Kentucky, United States, with a registered office in Toronto, Ontario, Canada. As of late 2025, the portfolio encompasses approximately 87 MHCs comprising over 16,000 lots, reflecting ongoing consolidation in the highly fragmented MHC industry. In April 2024, the REIT completed its largest acquisition to date for US$138 million, adding seven high-quality MHCs that expanded its footprint into the Nashville, Tennessee market and marked entry into West Virginia as its eighth state, funded by a US$60 million public equity offering and new debt. More recently, in November 2025, Flagship announced two strategic acquisitions totaling US$79 million, including a US$45 million MHC in Seymour, Indiana, and a US$34 million portfolio of three MHCs in the Greater Cincinnati, Ohio market, financed through a new US$70 million unsecured term loan and debt assumptions at low interest rates; these transactions are expected to be immediately accretive to adjusted funds from operations per unit and enhance operational synergies. The REIT continues to pursue organic growth via lot rent adjustments, occupancy improvements, renter-to-owner conversions, and community expansions, such as land clearing for new amenities in Elsmere, Kentucky, while integrating recent acquisitions to drive economies of scale.
Company News
Flagship Communities Real Estate Investment Trust Announces TSX Acceptance of Normal Course Issuer Bid
Flagship Communities Real Estate Investment Trust Q2 Earnings Call Highlights
Flagship Communities Real Estate Investment Trust Announces July 2026 Cash Distribution
Flagship Communities Real Estate Investment Trust Announces June 2026 Cash Distribution
Flagship Communities Real Estate Investment Trust Wins the Kentucky Manufactured Housing Institute's Highest Award for the Fifth Consecutive Year
Flagship Communities Real Estate Investment Trust Announces May 2026 Cash Distribution
Flagship Communities Real Estate Investment Trust Expands Presence in Ohio
Flagship Communities Real Estate Investment Trust Reports Voting Results from 2026 Annual Meeting of Unitholders
Flagship Communities Real Estate Investment Trust (MHC.UN:CA) Q1 2026 Earnings Call Transcript
Flagship Communities Real Estate Investment Trust Announces First Quarter 2026 Results
Flagship Communities Real Estate Investment Trust Releases 2025 ESG Report
Flagship Communities Real Estate Investment Trust Announces April 2026 Cash Distribution
Flagship Communities Real Estate Investment Trust Named National Manufactured Housing Institute's Manufactured Home Community Operator of the Year
Flagship Communities Real Estate Investment Trust To Host Conference Call For First Quarter 2026 Results
Flagship Communities Real Estate Investment Trust Announces March 2026 Cash Distribution
Flagship Communities Real Estate Investment Trust (MHC.UN:CA) Q4 2025 Earnings Call Transcript
Flagship Communities Real Estate Investment Trust Announces Fourth Quarter and Full Year 2025 Results
Flagship Communities Real Estate Investment Trust Announces February 2026 Cash Distribution
Flagship Communities Real Estate Investment Trust to Host Conference Call for Fourth Quarter 2025 Results
Flagship Communities: Strong Defensive Income Stock