BSR Real Estate Investment Trust (OTCPK:BSRTF) has acquired Aura Castle Hills Apartments, a 276 suite, garden style residential community in Lewisville, Texas and the Dallas/Fort Worth Metropolitan Statistical Area for $51.8M ($187,681/suite), funded through the REIT's credit facilities.
This transaction is expected to be immediately accretive to the REIT's adjusted funds from operations on a per unit basis.
BSR currently owns 40 multifamily garden style properties consisting of 9,681 units with a weighted average age of 20 years.
