Acquisition of 55+ age community increases presence in desirable Western North Carolina region
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.
Source:
FG Communities
CONTACT: Michael Anise, CEO ir@fgcommunities.com https://fgcommunities.com
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