FG Communities Expands with 50th Acquisition in Candler, NC
Deal News | Jun 09, 2025 | Globenewswire
FG Communities, a North Carolina-based real estate holding company, has announced its 50th acquisition with the purchase of a manufactured housing community in Candler, NC. This recent purchase aligns with the company's mission to preserve and enhance affordable housing options. The community in Candler consists of 82 homesites spread over approximately 12 acres, strategically located near the bustling city of Asheville and accessible outdoor attractions like the Blue Ridge Parkway. The acquisition is expected to capitalize on Asheville's ongoing growth, providing affordable living solutions amidst rising real estate prices. FG Communities, led by co-founders Joe Moglia, Kyle Cerminara, and CEO Michael Anise, continues to expand its portfolio with over 2,000 homesites either acquired or in the pipeline, leveraging regional efficiencies and supporting affordable housing initiatives.
Sectors
- Real Estate
- Affordable Housing
Geography
- United States – The acquisition is taking place in Candler, NC, which is located in the United States.
- North Carolina – Both Candler and Asheville, where the acquisition is located and strategically focused respectively, are in North Carolina.
Industry
- Real Estate – The acquisition of a manufactured housing community falls under the real estate industry, specifically focusing on affordable housing solutions.
- Affordable Housing – The mission of FG Communities is directed at preserving affordable housing, which directly categorizes this acquisition into the affordable housing sector.
Financials
- 50 – Number of acquisitions completed by FG Communities as of this announcement.
- 82 – The number of homesites in the newly acquired Candler, NC manufactured housing community.
- 2000 – Total number of homesites owned or pending acquisition by FG Communities.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| FG Communities | Acquiring Company | Company | FG Communities is a real estate holding company focused on acquiring and managing manufactured housing communities to ensure affordable housing. |
| Michael Anise | CEO | Person | Michael Anise is the CEO of FG Communities, driving its strategic focus on growth and affordable housing. |
| Joe Moglia | Co-founder | Person | Joe Moglia is one of the co-founders of FG Communities, contributing to the establishment of its current business model. |
| Kyle Cerminara | Co-founder | Person | Kyle Cerminara, co-founder of FG Communities, plays a significant role in the company’s strategic direction. |