Flagship Communities Real Estate Investment Trust announced that it will acquire a manufactured housing community (?MHC?) in Evansville, Indiana (the ?Acquisition?), for a purchase price of approximately USD 23 million. The Acquisition is expected to close on or about September 19, 2023 subject to customary closing conditions. The purchase price of USD 23 million will be funded with cash on the REIT's balance sheet and additional leverage.

Evansville, Indiana: The Evansville, Indiana community comprises 309 lots of which, approximately 95% are occupied. The Acquisition will be the 11th Flagship community located in the Evansville area. The community is located 10 minutes from downtown Evansville.

Home to Deaconess Midtown Hospital, St. Vincent Healthcare, Berry Global and other manufacturers, Evansville is located in southern Indiana, just across the Ohio River from Henderson and Owensboro, Kentucky. There are ten colleges and universities serving the Evansville area including The University of Evansville, University of Southern Indiana, Ivy Tech Community College and Trinity College of the Bible.