FG Communities Acquires Manufactured Housing Community in Raleigh, North Carolina
August 14 2024 - 1:59PM
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,
CEOir@fgcommunities.comhttps://fgcommunities.com
Source: FG Communities