Mooresville, NC, June 11, 2024 (GLOBE NEWSWIRE) — FG Communities, whose mission is to preserve and improve affordable housing by acquiring and operating manufactured housing communities, is excited to announce the acquisition of a manufactured housing community in Franklin, North Carolina. Located within 10 minutes of downtown Franklin, the 55+ age community contains approximately 38 homesites on nearly 6 acres. Franklin is located within the Nantahala National Forest, the largest national forest in North Carolina and part of the Blue Ridge Mountains. Residents of the community can spend their time hiking or sightseeing along the Blue Ridge Parkway, or visiting art museums and shopping in Asheville, North Carolina.

Franklin, like many popular areas in the mountains of Western North Carolina, has seen a significant increase in housing prices over the last several years. The Franklin manufactured housing community provides an affordable option for our residents who want to spend their retirement years surrounded by natural beauty.

Michael Anise, CEO of FG Communities, commented, “The Franklin community is an attractive addition to our portfolio. The community is in a highly desirable retirement area which we expect will support property value appreciation and growing cash flows over the long-term.”

About FG^® Communities

FG Communities, co-founded by Joe Moglia, Kyle Cerminara, and Michael Anise, is a self-administered, self-managed real estate holding company. The company has a growing portfolio of over 30 manufactured housing communities with over 900 homesites either owned or pending acquisition. FG Communities works to improve the quality of life and maintain affordable housing options for its residents.

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Mooresville, NC, June 07, 2024 (GLOBE NEWSWIRE) — FG Communities, whose mission is to preserve and improve affordable housing by acquiring and operating manufactured housing communities, is excited to announce the acquisition of its first manufactured housing community in Virginia. Located in Bedford County, the community contains approximately 15 homesites on just over 5 acres.

The community is ideally located within commuting distance to Roanoke, Virginia, which lies to the west. South of the community lies Smith Mountain Lake, a popular vacation and retirement destination with over 500 miles of shoreline.

Housing prices in Roanoke continue to rise, making it increasingly difficult for many to find housing options that meet their budget. Our manufactured housing community in Bedford County provides a needed solution that is welcomed by our residents.

Michael Anise, CEO of FG Communities, commented, “Expanding into Virginia is part of our long-term goal to grow our affordable housing portfolio across the Southeastern United States. We were able to acquire the Bedford County community at an attractive cap rate and the property’s location, near Roanoke, Virginia, should make this acquisition a valuable long-term asset for our portfolio.”

About FG^® Communities

FG Communities, co-founded by Joe Moglia, Kyle Cerminara, and Michael Anise, is a self-administered, self-managed real estate holding company. The company has a growing portfolio of over 30 manufactured housing communities with over 900 homesites either owned or pending acquisition. FG Communities works to improve the quality of life and maintain affordable housing options for its residents.

The post FG Communities Acquires its First Manufactured Housing Community in Virginia appeared first on FG Communities, Inc..

MOORESVILLE, N.C., June 03, 2024 (GLOBE NEWSWIRE) — FG Communities, whose mission is to preserve and improve affordable housing by acquiring and operating manufactured housing communities, is excited to announce the acquisition of a manufactured housing community in Brevard, North Carolina. Located minutes from downtown Brevard, the community contains approximately 35 homesites on over 5 acres. Brevard is a frequented tourist destination and is known as the “North Carolina Land of Waterfalls” with approximately 250 waterfalls within a short drive. Other popular destinations including downtown Asheville and the Biltmore Estate can be reached within under an hour from Brevard.

Growth in the Asheville-Brevard market has led to a significant increase in housing prices. The Brevard manufactured housing community, along with our other communities in the area, offers an affordable housing option that is needed in the area and welcomed by our residents.

Michael Anise, CEO of FG Communities, commented, “The Brevard community is an attractive acquisition for our portfolio. Brevard and Asheville are growing markets that should support increasing cash flows and property values over the long-term.”

About FG^® Communities

FG Communities, co-founded by Joe Moglia, Kyle Cerminara, and Michael Anise, is a self-administered, self-managed real estate holding company. The company has a growing portfolio of over 30 manufactured housing communities with over 900 homesites either owned or pending acquisition. FG Communities works to improve the quality of life and maintain affordable housing options for its residents.

The post FG Communities Acquires Manufactured Housing Community in Brevard, North Carolina appeared first on FG Communities, Inc..

FG Communities’ new additions are located in Gastonia (Metro Charlotte), NC, and Graham, NC, totaling more than 70 home sites. These acquisitions complement our 2023 growth in Asheville, Winston-Salem, Morganton, Statesville, and Charlotte, North Carolina, reinforcing our financial stability and strategic agility in identifying industry opportunities. FG Communities now operates a portfolio of 27 manufactured housing communities, with approximately 780 home sites that are either owned or under contract for acquisition.

Our team will continue to actively pursue our pipeline of potential acquisitions. These opportunities hold investment prospects that potentially include attractive cap rates and significant cash flow.

Once again, thank you for your support, which has been integral to our accomplishments. Together, we are shaping FG Communities and making a lasting impact on affordable housing.

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.

The post FG Communities Adds Communities in Metro Charlotte and Graham appeared first on FG Communities, Inc..

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.

The post FG Communities Adds Communities in Morganton and Statesville, NC appeared first on FG Communities, Inc..

Incorporating Asheville, North Carolina into our portfolio has enhanced our financial position and highlighted our adeptness in identifying industry opportunities. This strategic addition in Asheville joins a string of successful transactions in locations like Charlotte, Winston-Salem, Burlington, Graham, and Denver, reinforcing our position as a leader in the industry. Our forward-looking approach maintains a strong pipeline of new community acquisitions with favorable cap rates and substantial cash flow potential.

Stay updated on our latest developments and initiatives by connecting with Michael Anise on LinkedIn here or on FG Communities’ LinkedIn.

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.

The post Improving and Protecting Affordable Housing with FG Communities appeared first on FG Communities, Inc..

Moglia, an award-winning football coach and transformational business executive, is just the fourth alumnus to be honored with the Fordham Founder’s Award as well as induction into Fordham’s Hall of Honor and its Athletics Hall of Fame. He is also a member of Fordham Prep’s Hall of Honor and Football Hall of Fame, and received an honorary doctorate from the University in 2009.

“Joe embodies the Fordham way,” said Tania Tetlow, Fordham’s president. “From his time as a student at the Prep, his undergrad days at Fordham University, and throughout his business and coaching career, Joe has been closely connected to Fordham and all this institution stands for. Joe has made us proud by clearly living the Fordham principles and mission. The stadium upgrades wouldn’t be possible without Joe’s continued generosity to the University. We are honored to name this stadium after him.”

Read the complete article at the Fordham News.

Joe Moglia and Kyle Cerminara are co-founders of Fundamental Global. FG Communities was formed and initially funded by FG Financial Group in partnership with Fundamental Global.

The post Fordham Honors FG’s Co-founder with Renamed Moglia Stadium appeared first on FG Communities, Inc..

“I’m excited to be part of FG Communities and the FG Team. The demand for affordable housing continues to grow. Manufactured housing communities offer strong yields and the potential for capital appreciation while offering an affordable housing alternative for residents.”

—Michael Anise, CEO, FG Communities

FG Financial Group and Fundamental Global have both allocated capital to FG Communities.

Read the full story here.

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