Flagship Communities Real Estate Investment Trust (REIT) is an internally managed open-ended real estate investment trust that focuses on owning and operating a portfolio of manufactured housing communities (MHC) in several states. The primary purpose of the REIT is to provide affordable housing options through MHCs. Currently, the REIT owns and operates approximately 67 communities with a total of 11,876 lots.
These communities are located in Kentucky, Indiana, Ohio, Tennessee, Illinois, Arkansas, and Missouri. In addition to the communities themselves, the REIT also provides a fleet of manufactured homes for lease to residents of these housing communities. By owning and operating these MHCs, the REIT aims to provide affordable housing options for individuals and families, while also generating a return on investment for its shareholders.
Manufactured housing communities provide an alternative to traditional single-family homes or apartment complexes. They typically consist of prefabricated homes that are manufactured off-site and then transported and installed in the community. These communities often offer amenities and services such as recreational areas, common spaces, and maintenance services.
The REIT’s internally managed structure allows for direct control and oversight of its properties, ensuring efficient operations and property management. With a diverse range of properties across multiple states, the REIT aims to meet the housing needs of individuals and families in various markets.
In summary, Flagship Communities Real Estate Investment Trust is dedicated to providing affordable housing solutions through its portfolio of manufactured housing communities. These communities offer an alternative to traditional housing options while providing amenities and services for residents. With its commitment to affordable housing and efficient property management, the REIT aims to meet the housing needs of individuals and families in multiple states.
Sources:
– Flagship Communities Real Estate Investment Trust