FG Communities Completes Acquisition in Asheville Region
Deal News | Apr 30, 2025 | Globenewswire
FG Communities, a company dedicated to preserving and improving affordable housing, has completed the acquisition of a manufactured housing community in Flat Rock, North Carolina, part of the Asheville Metropolitan Statistical Area. This acquisition aims to address rising housing prices in the region by offering affordable options. The company's CEO, Michael Anise, expressed optimism about continued growth in the Asheville market, describing the location as ideal for leveraging future market expansion. The acquisition aligns with FG Communities' strategy to enhance its presence in the region and serves as a testament to its mission of maintaining affordable housing. Founded by Joe Moglia, Kyle Cerminara, and Michael Anise, FG Communities is a self-administered real estate holding company with a portfolio that includes 43 manufactured housing communities.
Sectors
- Real Estate
- Affordable Housing
Geography
- United States – The transaction took place in Flat Rock, North Carolina, USA, within the Asheville Metropolitan Statistical Area.
Industry
- Real Estate – The acquisition involves a transaction in the real estate sector, specifically focusing on manufactured housing communities.
- Affordable Housing – The targeted asset is within the affordable housing segment, addressing housing demand needs within economically sensitive demographics.
Financials
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| FG Communities | Acquirer | Company | A real estate holding company focused on preserving and improving affordable housing by acquiring and operating manufactured housing communities. |
| Michael Anise | CEO | Person | Chief Executive Officer of FG Communities, involved in strategic decisions regarding acquisitions. |
| Joe Moglia | Co-founder | Person | One of the co-founders of FG Communities. |
| Kyle Cerminara | Co-founder | Person | One of the co-founders of FG Communities. |