FG Communities is thrilled to share the latest developments regarding our mission to preserve and improve affordable housing by acquiring and operating manufactured housing communities. We are pleased to announce the acquisition of three communities, further solidifying our presence in the Southeastern United States.
The latest addition includes one 29-lot community located in Morganton, NC, and two communities: Oak Knoll, a 39-lot community, and Hickory Ridge, a 33-lot community, both located in Statesville, NC, totaling 101 home sites. These acquisitions follow our recently announced expansion in Asheville, NC, and they continue to strengthen our financial position and underscore our ability to identify and capitalize on strategic industry opportunities.
Looking ahead, our forward-thinking ensures a robust pipeline of potential acquisitions. These opportunities promise attractive investment prospects, featuring favorable cap rates and substantial cash flow potential.
Once again, we express our gratitude for your ongoing support, which has been instrumental in our achievements. We look forward to continuing this journey together and creating a lasting impact on affordable housing in the region.
About FG® Communities
FG Communities is a self-administered, self-managed real estate investment company. The company has a growing portfolio of 27 manufactured housing communities with approximately 693 home sites, which are owned or under contract to be acquired. FG Communities works to improve the quality of life and maintain affordable housing options for its residents.