Flagship Communities Real Estate Investment Trust Announces Largest Acquisition in the REIT’s History - Seite 2

Overview of Acquisitions

Nashville MSA

The Madison, Tennessee acquisition comprises 300 lots across approximately 38 acres and is located 13 miles north of downtown Nashville. It is within close proximity to malls, sports and medical facilities, golf courses, schools and entertainment, and is situated along the Cumberland River. The community is 67% occupied, including 6 rental homes. Community amenities include a playground, basketball court, clubhouse, and a community center. Nearby employers include Epic Systems, American Family Insurance, American Girl, Sub-Zero, Trek Bicycle, Lands’ End, Shopbop, Colony Brands and John Deere. The community sits near the interchange of Interstate 40 and 65 and is approximately a 20-minute drive to downtown Nashville.

The Murfreesboro, Tennessee acquisition comprises 173 lots across approximately 26 acres and is located 35 miles south of downtown Nashville. It is within close proximity to local supermarkets, restaurants, the municipal airport, universities and athletic centers. The community is approximately 99% occupied. Community amenities include a basketball court, clubhouse and greenery surrounded gazebo. Major employers in the community include Nissan Automotive, National Healthcare Corporation, State Farm Insurance, Amazon and St. Thomas Rutherford Hospital. The community sits near the interchange of Interstate 24 and is approximately a 30-minute drive to downtown Nashville.

Morgantown, West Virginia (2 Communities)

The Morgantown, West Virginia acquisitions comprise 2 communities. The first community comprises 187 lots across approximately 33 acres and is 88% occupied including 4 rental homes. The second community comprises 203 lots across approximately 41 acres and is 81% occupied including 102 rental homes. Both communities are centrally located in Morgantown along the Monongahela River, near Morgantown Municipal Airport, as well as nearby attractions including several golf courses, West Virginia University campus and Art Museum, Hazel Ruby McQuain Riverfront Park, Mountaineer Field, and West Virginia Coliseum. The communities are located adjacent to Interstates 79 and 68, providing excellent access to major transportation routes. Major employers include West Virginia University, Target, WVU Medicine, Mylan INC, IBM, Viatris, US Army, AT&T and Wipro.