Flagship Communities Real Estate Investment Trust Announces Appointments of Two Members to its Board of Trustees

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TORONTO, Nov. 13, 2024 (GLOBE NEWSWIRE) — Flagship Communities Real Estate Investment Trust (TSX: MHC.U) (TSX:MHC.UN) (“Flagship” or the “REIT”) today announced the appointments of Candace McGraw and Jonathan Li to its board of trustees (the “Board”).

“We are excited to welcome Candace and Jon to our Board,” said Peter Bynoe, the REIT’s Chair of the Board. “Candace and Jon are accomplished business professionals and bring extensive leadership expertise and diverse perspectives. We are confident Candace and Jon’s contributions to our Board will be invaluable as the REIT continues its growth.”

Candace McGraw is a prominent figure within the aviation industry. Ms. McGraw serves as the CEO of Cincinnati/Northern Kentucky International Airport (CVG) and is the first female chair of ACI World. Ms. McGraw has over 25 years’ experience in leadership roles, legal affairs and public administration that she will apply to benefit future initiatives of the REIT.

Jonathan Li is the President and CEO of Minto Apartment REIT, a TSX-listed owner and operator of high-quality multi-family rental properties in Canada’s major markets. Mr. Li has 25 years of experience, including as President and Chief Operating Officer of Minto Apartment REIT and Managing Director in the Real Estate investment banking group at BMO Capital Markets. He has acted as an advisor to some of North America’s most prominent REITs, including on Flagship’s initial public offering. His leadership, corporate strategy and corporate finance background will help the REIT as it continues to advance its business strategy.

About Flagship Communities Real Estate Investment Trust

Flagship Communities Real Estate Investment Trust is a leading operator of affordable residential MHCs primarily serving working families seeking affordable home ownership. The REIT owns and operates exceptional residential living experiences and investment opportunities in family-oriented communities in Kentucky, Indiana, Ohio, Tennessee, Arkansas, Missouri, West Virginia, and Illinois. To learn more about Flagship, visit www.flagshipcommunities.com.

For further information, please contact:

Eddie Carlisle, Chief Financial Officer
Flagship Communities Real Estate Investment Trust
Tel: +1 (859) 568-3390