T
ORONTO, Oct. 01, 2024 - Flagship Communities Real Estate Investment Trust ("Flagship" or the "REIT") (TSX:MHC.U) (TSX:MHC.UN) announced a 5% increase to its monthly cash distribution to unitholders, rising to US$0.0517 per REIT unit or US$0.62 per REIT unit on an annualized basis. The new distribution will begin on November 15, 2024 for unitholders of record as of October 31, 2024.

    "This increase reflects our strong financial position and operating performance," said Kurt Keeney, President and Chief Executive Officer. "We've achieved significant milestones, including a major acquisition and refinancing of near-term debt, and we're committed to delivering long-term value for unitholders."

    Distributions paid to Canadian unitholders will be subject to U.S. withholding tax; unitholders should consult their own tax advisors regarding the tax implications.

    Flagship Communities Real Estate Investment Trust is a leading operator of affordable residential mobile home communities primarily serving working families seeking affordable home ownership. The REIT owns and operates properties in several states, offering exceptional living experiences and investment opportunities.

    This press release contains forward-looking statements that reflect management's current expectations regarding future events, including the intended monthly distributions of the REIT. While management believes these assumptions to be reasonable, they may prove incorrect, and actual results could differ materially from current expectations due to various factors, including those identified in the REIT's final prospectus available on SEDAR.

    For further information, please contact Eddie Carlisle, Chief Financial Officer, at +1 (859) 568-3390.