FG Communities Expands in Franklin, North Carolina with Latest Acquisition
Deal News | Jun 04, 2025 | Globenewswire
FG Communities, a self-administered and self-managed real estate holding company, has announced the acquisition of another manufactured housing community in Franklin, North Carolina. This becomes FG Communities' second acquisition in Franklin, highlighting their growing presence in the region. The acquisition aligns with the company’s mission to provide affordable housing and improve overall living conditions for residents. Located near the Blue Ridge Mountains and the Nantahala National Forest, Franklin has seen a rise in housing prices, accentuating the importance of such affordable housing projects. FG Communities believes in the promising growth potential of Western North Carolina and anticipates their properties benefiting from such growth. Founded by Joe Moglia, Kyle Cerminara, and Michael Anise, the company boasts a portfolio of 49 properties with over 2,000 homesites either owned or pending acquisition.
Sectors
- Real Estate
- Affordable Housing
Geography
- North Carolina, USA – The acquisition took place in Franklin, North Carolina, making this region the central focus of the article. It also mentions the broader Western North Carolina area.
Industry
- Real Estate – The acquisition of a manufactured housing community places this article firmly within the Real Estate sector, given that it involves the buying and management of properties.
- Affordable Housing – This sector is relevant as the article discusses providing affordable housing options in Franklin, North Carolina, aiming to counteract rising regional housing costs.
Financials
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| FG Communities | Acquirer | Company | A self-administered, self-managed real estate holding company focused on preserving and improving affordable housing communities. |
| Michael Anise | CEO of FG Communities | People | Michael Anise is the CEO of FG Communities, guiding the company through strategic acquisitions like the one in Franklin. |
| Joe Moglia | Co-founder of FG Communities | People | Co-founder of FG Communities, which is focused on affordable housing and real estate holdings. |
| Kyle Cerminara | Co-founder of FG Communities | People | Co-founder of FG Communities, which is focused on affordable housing and real estate holdings. |