Acquisition increases presence in growing Asheville-Brevard market
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.
Source:
FG Communities
CONTACT: Contact: Michael Anise, CEO ir@fgcommunities.com
