FG Communities Holdings Acquires Manufactured Housing Site in North Carolina
FG Communities Holdings Inc. (Nasdaq: FGC) has acquired a manufactured housing community in Garner, North Carolina. Located southeast of Raleigh in the Research Triangle region, the property adds 49 homesites across more than 59 acres to the company's real estate portfolio.
The transaction expands the company's footprint in a rapidly growing metropolitan area where rising living costs have increased demand for affordable residential options. Unsubsidized manufactured housing communities offer lower-cost housing alternatives for local workers. Together with associated entities, FG Communities Holdings Inc. now maintains a combined footprint of 102 communities containing over 4,500 homesites across the Southeastern United States.
Moving forward, the company plans to preserve the community as affordable housing while funding property improvements for current residents. Management indicated it will continue pursuing further property acquisitions across growing Southeastern markets with a disciplined approach.
Key points
- FG Communities Holdings Inc. acquired a manufactured housing property in Garner, North Carolina, covering 59 acres and 49 homesites.
- The location in the Raleigh metropolitan area gives residents access to growing regional employment centers in the Research Triangle.
- FG Communities Holdings Inc. and its associated entities now oversee 102 communities containing over 4,500 total homesites.
- The company intends to preserve affordable housing access while making capital improvements across the newly acquired site.
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How we writeDisclaimerQuestions and answers
What property did FG Communities Holdings Inc. acquire?
FG Communities Holdings Inc. acquired a manufactured housing community featuring 49 homesites on over 59 acres in Garner, North Carolina, in the Raleigh metropolitan area.
How large is the company's total housing portfolio?
Together with associated entities, the company operates a combined network of 102 communities with over 4,500 homesites across the Southeastern United States.
What are the company's future plans for the Garner community?
The company plans to maintain the property as unsubsidized affordable housing while making improvements for residents and seeking additional disciplined acquisitions.