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BSR Acquires Houston Residential Community for USD 51m
Tuesday 04 August 2020

Canada-based BSR Real Estate Investment Trust (TSX: HOM.U) has acquired Broadstone Park West, a Houston, Texas residential community, from Starlight Investments for USD 51m, the company said.

The transaction was financed through a combination of a draw on the REIT's credit facility of approximately USD 40.0m and the issuance of approximately USD 10.4m of trust units of the REIT at USD 12.25 per unit.

The purchase of Broadstone marks the eleventh property acquisition for BSR since completing its initial public offering on the Toronto Stock Exchange in May 2018.

BSR Real Estate Investment Trust is an internally managed, unincorporated, and open-ended real estate investment trust established pursuant to a declaration of trust under the laws of the Province of Ontario.
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Date Published: 04/08/2020

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