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BSR Real Estate Investment Trust ("BSR" or the "REIT") (TSX: HOM.U) (TSX: HOM.UN) announced today that it has purchased The Ownsby Apartments ("Ownsby") in the fast-growing Celina, TX 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."