Now Operates Over 500+ Affordable Manufactured Homesites
MOORESVILLE, N.C., Feb. 7, 2024 /PRNewswire/ — FG Communities, Inc., a company committed to preserving and improving affordable housing by acquiring and operating manufactured housing communities, has acquired a new property in Asheville, North Carolina, adding another 24 homesites to its growing portfolio. This acquisition bolsters the company’s other recent additions in Charlotte, Winston-Salem, and East Flat Rock, North Carolina. The company now operates 22 affordable home properties featuring approximately 519 homesites, with nine more communities in its pipeline. If all proposed pipeline communities are successfully acquired, this could boost the company’s total homesites to approximately 795.
CEO Michael Anise said, “This property highlights our successful work on behalf of both investors and residents. It not only strengthens our financial results, but it also showcases our commitment to preserving and improving affordable housing in the Asheville region, where we currently own 11 manufactured housing communities and provide homes to over 260 families.”
Chairman Kyle Cerminara added, “We’re also building a robust pipeline of pending acquisitions, with appealing cap rates and cash flow potential.”
Prospective investors who would like to learn more about FG Communities, please refer to: https://invest.equifund.com/offering/fgcommunities/details
About FG Communities:
FG Communities is a self-administered, self-managed real estate holding company. The company has a growing portfolio of 31 manufactured housing communities with approximately 795 homesites, which are owned or under contract (or under letter of intent) to be acquired. FG Communities works to improve the quality of life and maintain affordable housing options for its residents.
SOURCE FG Communities