Acquisition of community increases presence in the heart of North Carolina’s vibrant and growing Research Triangle region
Mooresville, NC, Aug. 14, 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 Raleigh, North Carolina. Located within minutes of Raleigh’s bustling downtown area, the community contains approximately 67 homesites on over 21 acres.
Raleigh, along with Durham and Chapel Hill, are the anchor cities of North Carolina’s Research Triangle, an area known as the state’s technology and research hub. The area is home to research universities including North Carolina State University, Duke University, and the University of North Carolina at Chapel Hill. The area is also home to the Research Triangle Park, the largest research park in the United States, and home to hundreds of companies and tens of thousands of employees.
In addition, the Raleigh manufactured housing community is located across the street from Lake Wheeler which has approximately 650 acres of lake and 150 acres of park and land buffer – a desirable area to live with many outdoor activities including boating, fishing, and walking paths.
Growth in Raleigh has created a large deficit in the amount of affordable housing available. Real estate prices have increased, and low-income earners need affordable housing solutions. The Raleigh manufactured housing community provides an affordable option for our residents.
Michael Anise, CEO of FG Communities, commented, “The Raleigh manufactured housing community is located in a fast-growing area and is next to Lake Wheeler, a popular destination for outdoor activities. This is a key long-term holding for our portfolio that we believe will benefit as the area continues to grow.”
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 1,000 homesites either owned or pending acquisition. FG Communities works to improve the quality of life and maintain affordable housing options for its residents.
Contact:
Michael Anise, CEO
ir@fgcommunities.com
https://fgcommunities.com
Source:
FG Communities
