Flagship Communities Real Estate Investment Trust
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in mil. unless spec.Company Description
- CEO
- Kurtis Keeney
- Full Time Employees
- 230
- Sector
- Finance
- Industry
- Real estate investment trusts
- Address
- 2220 Grandview Dr. Fort Mitchell KY United States 41017
- IPO Date
- Oct 7, 2020
- Website
- flagshipcommunities.com
- Similar Companies
- Business
- Flagship Communities Real Estate Investment Trust (MHC-U.TO) owns and operates a portfolio of income-producing manufactured housing communities (MHCs) comprising approximately 81 communities and 15,066 residential lots located in stable Midwest and contiguous U.S. markets including Kentucky, Indiana, Ohio, Tennessee, Illinois, Arkansas, Missouri and West Virginia. The REIT provides affordable housing solutions through a land lease business model, leasing lots to owner-occupiers of manufactured homes while offering a fleet of manufactured homes for lease; its communities, such as Anderson Pointe, Hilltop Pointe, Woodland Acres Pointe, Carolina Pointe, Heritage Hills Pointe East, Heritage Hills Pointe West, Amberley Pointe and Pin Oak Pointe, are strategically positioned near interstate highways, employment centers, healthcare facilities and retail amenities to serve working families seeking homeownership opportunities. Established pursuant to a declaration of trust under Ontario law on August 12, 2020, the internally managed, open-ended REIT maintains its registered office at 199 Bay Street, Suite 4000, Toronto, Ontario, M5L 1A9, Canada, and its head office at 2220 Grandview Drive, Suite 280, Fort Mitchell, Kentucky 41017, United States. The REIT pursues organic growth by aligning lot rents with market conditions, leasing vacant lots, converting renter-occupied lots to homeowner-occupied, implementing value-enhancing capital investments, optimizing expenses and developing excess land for community expansions; externally, it focuses on acquiring underperforming MHCs in fragmented markets to leverage economies of scale, off-market relationships and tax-deferred Class B Units. In November 2025, Flagship completed the acquisition of a 744-lot MHC in Seymour, Indiana for US$45 million (91.2% occupied with 85 lots for expansion) and waived due diligence on a three-community, 496-lot portfolio in Greater Cincinnati, Ohio for US$34 million (65.5% occupied), both funded primarily by a new US$70 million unsecured term loan to enhance occupancy, add amenities and pursue lot expansions in core markets. Earlier in April 2024, the REIT executed its largest acquisition to date, purchasing seven communities with 1,253 homesites for US$93 million (plus US$10 million in capex), expanding into the Nashville market and West Virginia while strengthening its Tennessee footprint and growing total holdings beyond 15,000 sites.
Company News
Flagship Communities Real Estate Investment Trust To Host Conference Call For Third Quarter 2026 Results
Flagship Communities Real Estate Investment Trust Announces September 2026 Cash Distribution
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