Tops 495 Affordable Manufactured Homesites, More In Pipeline
MOORESVILLE, N.C., Nov. 29, 2023 /PRNewswire/ — FG® Communities, Inc., a company committed to preserving and improving affordable housing by acquiring and operating manufactured housing communities, completed its latest acquisition, a Henderson County North Carolina property of 25 homesites. This follows the company’s recent additions of two communities in Charlotte, and one in Winston-Salem, totaling 90 homesites. The company now oversees 21 affordable home properties featuring approximately 495 homesites and has a growing pipeline of acquisitions with 7 more properties that are either under contract or under letter of intent to be acquired, which would bring a total of approximately 770 homesites under the company’s management.
CEO Michael Anise said, “These acquisitions underscore our successful work on behalf of both investors and residents. In this regard, our cash flow is strengthening, and our proficiency in identifying and rapidly closing new properties is on point. At the same time, by acquiring, improving, and operating quality manufactured home communities, we’re fulfilling our mission to preserve and improve affordable housing access for countless families.”
Chairman Kyle Cerminara added, “We’re also pleased to report that our pipeline remains robust, with numerous additional properties in our sights, all with appealing cap rates and cash flow potential. We believe this further highlights FG Communities’ resilient investment opportunity.”
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 investment company. The company has a growing portfolio of 29 manufactured housing communities with approximately 770 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.
Mr. Michael Anise, CEO
SOURCE FG Communities