Subjects: TNM, RLE, CXP
FG Communities Acquires 5 New Properties
Portfolio Nears 700 Affordable Homesites
MOORESVILLE, N.C., Feb. 21, 2024 /PRNewswire/ -- FG Communities, Inc., a company with the mission to preserve and improve affordable housing by acquiring and operating manufactured housing communities, is pleased to announce that it has acquired five new properties in North Carolina. These communities include locations in Gastonia, Graham, Statesville, and Morganton.
Together the acquisitions increase the company's reach by 173 new homesites. These follow other properties recently acquired in Charlotte, Winston-Salem, East Flat Rock, and Asheville, North Carolina. Today, FG Communities operates 27 affordable housing communities, offering approximately 693 homesites to its residents.
CEO Michael Anise said, "We're pleased to add these new communities to our portfolio, and we're confident they'll benefit our residents and investors alike. The new properties highlight our ability to quickly identify and close on properties that preserve and improve affordable housing, and they should strengthen our growing cash flows."
Chairman Kyle Cerminara added, "As we approach 700 homesites, we're starting to realize economies of scale across our growing portfolio. Our pipeline of new communities remains strong, supporting both attractive cap rates and strong cash flow potential."
Prospective investors who would like to learn more about FG Communities, please refer to their offering page: https://invest.equifund.com/offering/fgcommunities/details
Jordan Gillissie, CEO Equifund.com commented, "My team and I are very pleased to support FG Communities in their funding needs. We are proud of FG Communities' progress, as they grow their portfolio of affordable housing communities not only in North Carolina, but across the Southeastern U.S."
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 either 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.
Contact:
Michael Anise ? CEO
[email protected]
855-935-7638 (RENT)
https://fgcommunities.com
SOURCE FG Communities
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