BSR Real Estate Investment Trust

Description

BSR Real Estate Investment Trust is a publicly listed REIT.

The open-ended, unincorporated REIT was established on January 9, 2018, by a declaration of trust in Ontario. The units are listed for trading on the Toronto Stock Exchange under the symbol ‘HOM.U’.

BSR REIT is an internally managed real estate investment trust with a diversified portfolio of assets located across the United States, including Austin, Houston, Oklahoma City, Dallas and Arkansas. The management and board members hold more than 50 per cent of the ownership interest in this real estate investment trust.

The Canada-based real estate investment trust operates and owns over 40 residential multi-family properties situated in primary and secondary markets across the United States.

The real estate investment trust aims to increase cash flow, provide sustainable and higher returns on investment to the unitholders through accretive acquisitions and organic rental growth. In December 2020, the real estate investment trust acquired two Texas-based communities, Satori Frisco Apartments and Vale Luxury Apartments.

The Vale Luxury Apartments consists of 350 units in Houston with various amenities such as swimming pools, fitness centers, drive-in mail kiosks, car care centers, dog parks.

Satori apartments is also a garden-style community that hosts nearly 330 units with similar amenities as in Vale.

Recently in March 2021, the real estate investment trust entered into an agreement to acquire a portfolio of three garden-style communities comprising 1,009 units in the core markets in Texas for a total amount of US $195 million.

The REIT is reportedly using its existing credit facility to fund the agreement. In addition, the company aims to increase its foothold in Houston and Dallas with these acquisitions.

The real estate investment trust claims to have focused on asset rotation since its initial public offering. As of 2021, the diversified property portfolio represents 9,714 units across five states in the US.