We hope you have had a restful holiday season. We’re excited to start 2024 with the announcement of the acquisition of two new communities. As you may recall, our mission is to preserve and improve affordable housing. As 2023 came to a close, we successfully acquired two new communities, reinforcing our presence in the Southeastern United States.
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.