BSR REIT acquires Texas apartments for $87.5-million

Mr. Dan Oberste reports BSR REIT ACQUIRES THE OWNSBY IN DALLAS-FORT WORTH MSA FOR $87.5 MILLION BSR Real Estate Investment Trust has purchased The Ownsby Apartments in the fast-growing Celina, Tex., submarket of the Dallas-Fort Worth MSA for $87.5-million. "The addition of another high-quality, newly developed lease-up property in a fast-growing Texas submarket is the perfect complement to our portfolio," stated Dan Oberste, BSR's chief executive officer. "The Ownsby will be another example of a community that can benefit from the BSR platform's proven ability to maximize value through predictable rotations into best-in-class investments in Texas." Completed earlier this year, The Ownsby comprises 368 apartment units, including one-, two- and three-bedroom suites. Units feature up-to-10-foot ceilings, quartz countertops, walk-in showers, gourmet kitchens and direct access garages. Property amenities include a resort style pool, movie theater, modern fitness centre, golf simulator, private offices, bike storage and pet spa. The U.S. Census Bureau named Celina, Tex., the fastest-growing city in the U.S. in 2023 and it grew by 19 per cent in the 12 months ending July, 2024. The Ownsby has easy access to the Dallas Parkway and to major employers including Toyota, PGA of America, Baylor Medical Center, American Airlines and AT&T. About BSR Real Estate Investment Trust BSR Real Estate Investment Trust is an internally managed, unincorporated, open-ended real estate investment trust established pursuant to a declaration of trust under the laws of the Province of Ontario. The REIT owns a portfolio of multifamily garden-style residential properties located in attractive primary markets in the Sunbelt region of the United States. We seek Safe Harbor.