Flagship Communities Real Estate Investment Trust announced it will acquire a Resort Style Community at Indian Lake in Lakeview, Ohio (the "Acquisition"), for a purchase price of approximately USD 3 million. The Acquisition is expected to close on or about October 5, 2023 subject to customary closing conditions. The purchase price of USD 3 million will be funded with cash on the REIT's balance sheet with seller financing of $2 million at 3% interest for 6 years.

The Lakeview, Ohio resort community comprises 62 sites, which can expand by up to five units. The community also includes 62 boat slips, three wave runner docks and a clubhouse. The Resort Park is approximately 95% occupied with no park-owned homes.

It is a private and gated community, located approximately one-half hour from Flagship's RV Resort in Wapakoneta, Ohio. The Acquisition is in a prime location in Lakeview, Ohio. The Resort Park is on the historic Indian Lake in Logan County, western Ohio.

It was formerly known as Lewistown Reservoir and is a 5,100 acre lake approximately 20 miles (32 kms) southeast of Lima. As Ohio's second inland lake, it is fed by the north and south forks of the Upper Great Miami River, Cherokee Mans Run, Blackhawk Creek, and Van Horn Creek and is known to be a major tourism area in Ohio.