FG Communities, Inc.

https://fgcommunities.com

FG Communities, Inc. is a self-administered, self-managed real estate investment company headquartered in Mooresville, North Carolina. The company's core business involves the acquisition, ownership, development, and management of manufactured housing communities. Its mission is to preserve and improve affordable housing options for residents across its portfolio.

The company focuses on providing affordable housing solutions within the manufactured housing community market, often referred to as mobile home parks. FG Communities operates primarily in the Southeastern United States, with a significant presence in North Carolina. It aims to add value to its properties through professional management and operational improvements, ensuring stable and affordable living environments for its residents.

Co-founded by Joe Moglia, Kyle Cerminara (Chairman), and Michael Anise (CEO), FG Communities has demonstrated significant growth. As of April 2026, the company's portfolio includes 84 properties with over 3,500 homesites either owned or pending acquisition. Recent notable activities include numerous acquisitions in late 2025 and early 2026 across North Carolina (e.g., Asheville, Durham, Selma, Fuquay-Varina, Mooresboro) and South Carolina (e.g., Greenville, Myrtle Beach), expanding its footprint in fast-growing regions. In October 2025, FG Communities was ranked as the 75th largest manufactured housing community owner in the United States.

Latest updates

FG Communities Expands Affordable Housing Portfolio with North Carolina Acquisition

Event summary

  • FG Communities completed an acquisition of a manufactured housing community in Lexington, North Carolina, on April 28, 2026.
  • The acquired community is located within the Piedmont Triad region, near Winston-Salem and Greensboro.
  • FG Communities currently manages a portfolio of 85 properties with over 3,500 homesites.
  • The acquisition aligns with FG Communities’ strategy of targeting markets with a strong working-class foundation and demand for affordable housing.

The big picture

FG Communities' acquisition strategy focuses on capitalizing on the persistent demand for affordable housing in areas with stable employment and a strong working class. The company's self-managed structure allows for agility in identifying and acquiring suitable properties, but also places significant operational burden on management. This latest acquisition reinforces their commitment to expanding their footprint in the Southeast, a region experiencing population growth and increasing demand for affordable living options.

What we're watching

Market Saturation
The company's continued expansion into the Piedmont Triad region may lead to increased competition and pricing pressures within the affordable housing market.
Operational Efficiency
FG Communities' ability to improve the quality of life and maintain affordability across its growing portfolio will be a key determinant of long-term profitability.
Regulatory Risk
Changes in local or state regulations regarding manufactured housing communities could significantly impact FG Communities’ operating costs and expansion plans.

FG Communities Bolsters Affordable Housing Portfolio with Asheville Acquisition

Event summary

  • FG Communities completed the acquisition of a manufactured housing community in Asheville, North Carolina.
  • The company, co-founded by Joe Moglia, Kyle Cerminara, and Michael Anise, now manages a portfolio of 84 properties.
  • FG Communities' portfolio includes over 3,500 homesites, either owned or pending acquisition.
  • Asheville is experiencing a housing shortage, with demand consistently exceeding supply.

The big picture

FG Communities' acquisition strategy is predicated on capitalizing on the persistent shortage of affordable housing in high-growth markets. The company’s focus on manufactured housing communities provides a niche within the broader real estate sector, but also presents unique operational and regulatory challenges. With a portfolio of over 3,500 homesites, FG Communities’ performance will be a bellwether for the viability of this specialized investment approach.

What we're watching

Market Dynamics
The success of FG Communities’ strategy hinges on the continued affordability of its properties within increasingly desirable markets like Asheville; rising property taxes or local ordinances could erode this advantage.
Growth Strategy
Whether FG Communities can maintain its acquisition pace while preserving its commitment to affordable housing will be a key indicator of its long-term viability.
Operational Efficiency
The integration of the Asheville community and its impact on FG Communities’ overall operational efficiency and resident satisfaction warrants close monitoring.

FG Communities Expands Footprint in Booming Durham Market

Event summary

  • FG Communities finalized an acquisition of a manufactured housing community in Durham, North Carolina, on April 10, 2026.
  • The acquired community is located approximately 10 minutes from downtown Durham.
  • FG Communities currently manages a portfolio of 83 properties with over 3,500 homesites.
  • CEO Michael Anise stated the acquisition is a ‘natural fit’ given Durham’s strong market dynamics.

The big picture

FG Communities’ acquisition underscores the ongoing investor interest in affordable housing, particularly in high-growth markets like Durham. The company’s strategy of acquiring and operating manufactured housing communities aligns with broader demographic trends and a recognized need for accessible housing options. However, the company's ability to maintain its self-managed structure while scaling rapidly will be a key determinant of its long-term success.

What we're watching

Market Saturation
The continued influx of institutional investment into the Triangle Region could eventually lead to increased competition and pricing pressure for manufactured housing communities, potentially impacting FG Communities’ margins.
Affordability
FG Communities’ stated commitment to affordability will be tested as rising land costs and operational expenses may necessitate rent increases, potentially impacting resident retention and community stability.
Growth Pace
The pace at which FG Communities can identify and integrate new acquisitions will be critical to achieving its growth objectives, given the limited supply of suitable properties and increasing competition for assets.

FG Communities Bolsters Asheville Footprint with 45-Homesite Acquisition

Event summary

  • FG Communities completed the acquisition of two manufactured housing communities in Asheville, North Carolina.
  • The acquisition adds 45 homesites to FG Communities' portfolio.
  • FG Communities now manages a portfolio of 82 properties with over 3,500 homesites.
  • CEO Michael Anise cited Asheville's population growth, economy, and affordable housing shortage as key drivers for the acquisition.

The big picture

FG Communities' acquisition underscores the ongoing demand for affordable housing solutions, particularly in rapidly growing markets like Asheville. The company's strategy of acquiring and operating manufactured housing communities positions it to capitalize on this trend, but also exposes it to risks associated with rising interest rates and potential regulatory changes impacting the manufactured housing sector. With a portfolio exceeding 3,500 homesites, FG Communities' performance will be a bellwether for the viability of this niche within the broader real estate market.

What we're watching

Market Dynamics
Asheville's housing market remains constrained, and FG Communities' success will depend on its ability to maintain affordability while navigating rising land costs and operational expenses.
Growth Strategy
The company's stated focus on markets with population growth and economic strength suggests a continued expansion strategy targeting similar geographies, potentially increasing competition for assets.
Operational Execution
FG Communities’ commitment to improving resident quality of life will be critical for long-term retention and value creation, requiring ongoing investment and effective community management.

FG Communities Portfolio Hits 80 Properties with Greenville Expansion

Event summary

  • FG Communities has acquired three manufactured housing communities in Greenville, SC, comprising 75 homesites.
  • The acquisition marks FG Communities’ 80th property and expands its portfolio to over 3,500 homesites.
  • The company was co-founded by Joe Moglia, Kyle Cerminara, and Michael Anise.
  • Greenville, SC is consistently ranked among the fastest-growing metros in the U.S.

The big picture

FG Communities’ strategy of acquiring and operating affordable manufactured housing communities in high-growth markets like Greenville aligns with the broader trend of increasing demand for affordable housing options in rapidly urbanizing areas. With an AUM exceeding 3,500 homesites, FG Communities is becoming a notable player in a fragmented sector, but its success hinges on navigating regulatory risks and maintaining disciplined capital deployment.

What we're watching

Market Saturation
The rapid growth of Greenville, SC, while attractive, may eventually lead to increased competition and pricing pressure within the manufactured housing sector, potentially impacting FG Communities’ margins.
Regulatory Risk
Changes in federal or state regulations concerning manufactured housing communities, particularly those related to affordability requirements or resident protections, could significantly impact FG Communities’ operating model and profitability.
Capital Deployment
FG Communities’ ability to consistently identify and acquire additional properties at attractive valuations will be crucial for sustaining its growth trajectory, and a slowdown in deal flow could signal a shift in market dynamics.

FG Communities Bolsters Myrtle Beach Footprint with Second Acquisition

Event summary

  • FG Communities finalized an acquisition of a manufactured housing community in Myrtle Beach, South Carolina.
  • This marks the company’s second property in the Myrtle Beach market.
  • FG Communities currently manages a portfolio of 77 properties with over 3,000 homesites.
  • Kyle Cerminara serves as Chairman and Co-Founder of FG Communities, alongside Joe Moglia and Michael Anise.

The big picture

FG Communities' expansion into Myrtle Beach underscores the broader trend of institutional investors targeting the manufactured housing sector for its resilience and potential for stable cash flows. The company’s strategy of concentrating holdings in high-growth markets like Myrtle Beach, with limited affordable housing supply, suggests a bet on long-term demographic shifts and rising demand. With 77 properties, FG Communities is a notable player in a fragmented market, and its success hinges on operational efficiency and navigating regulatory changes.

What we're watching

Market Saturation
Continued acquisitions in Myrtle Beach could signal a strategy of market dominance, but also increase exposure to localized economic downturns if growth slows.
Affordability Pressure
The company's focus on affordable housing faces ongoing pressure from rising land costs and construction expenses, potentially impacting long-term returns.
Growth Trajectory
The pace of future acquisitions will be a key indicator of FG Communities' ability to maintain its growth trajectory and deploy capital effectively.

FG Communities Bolsters Western NC Footprint with Morganton Acquisitions

Event summary

  • FG Communities acquired three manufactured housing communities in Morganton, North Carolina.
  • The acquisition brings FG Communities’ total owned communities in Morganton to seven.
  • FG Communities now manages 76 properties with over 3,500 homesites.
  • CEO Michael Anise stated the company intends to grow alongside the Western North Carolina market.

The big picture

FG Communities’ strategy of concentrating acquisitions in specific, fast-growing markets like Western North Carolina represents a bet on localized demand for affordable housing. The company’s scale, with 76 properties and over 3,500 homesites, provides operational efficiencies but also increases exposure to regional economic risks. The Morganton acquisitions further solidify FG Communities’ position in a market experiencing rapid population growth and rising housing costs.

What we're watching

Market Saturation
With seven communities in Morganton, FG Communities faces the challenge of maintaining pricing power and avoiding over-concentration in a single geographic area, which could expose them to localized economic downturns.
Affordability Pressure
The press release highlights the increasing shortage of affordable housing; FG Communities' ability to maintain affordability while managing operating costs will be crucial for long-term resident retention and community value.
Growth Pace
The company’s stated intention to ‘grow right along’ with the region suggests an aggressive acquisition strategy; the pace of future acquisitions will need to be balanced against integration capabilities and potential dilution of returns.

FG Communities Expands Footprint in North Carolina’s Affordable Housing Market

Event summary

  • FG Communities completed the acquisition of a manufactured housing community in Scotland Neck, North Carolina.
  • The acquired community comprises approximately 11 acres with 38 homesites.
  • FG Communities now manages a portfolio of 73 properties with over 3,000 homesites.
  • The acquisition is located near key employment hubs like Rocky Mount and Wilson.

The big picture

FG Communities' acquisition strategy is directly aligned with the increasing demand for affordable housing in the southeastern US, particularly as rising interest rates and construction costs limit traditional homeownership opportunities. With a portfolio exceeding 3,000 homesites, FG Communities is establishing itself as a significant player in the manufactured housing sector, but its success hinges on maintaining operational efficiency and navigating potential regulatory changes impacting the industry.

What we're watching

Market Dynamics
The continued growth in housing demand across eastern North Carolina will likely drive further acquisition interest in similar communities, potentially increasing competition and pricing pressure for FG Communities.
Operational Efficiency
FG Communities’ ability to improve the quality of life and maintain affordability within the newly acquired community will be a key indicator of its operational effectiveness and long-term value creation.
Growth Strategy
The pace at which FG Communities can identify and integrate additional communities will determine its ability to scale its portfolio and achieve its stated mission of preserving affordable housing.

FG Communities Expands Footprint in Charlotte Metro with Gastonia Acquisition

Event summary

  • FG Communities completed the acquisition of a manufactured housing community in Gastonia, North Carolina.
  • The community is located in Gaston County, approximately 25 miles west of Charlotte.
  • FG Communities now manages a portfolio of 72 properties with over 3,000 homesites.
  • Michael Anise, CEO of FG Communities, highlighted Gastonia’s growth trajectory and proximity to Charlotte headquarters.

The big picture

FG Communities' acquisition underscores the ongoing demand for affordable housing options in rapidly growing suburban markets adjacent to major employment centers. The company's focus on manufactured housing communities positions it to capitalize on this trend, but also exposes it to risks associated with interest rate volatility and regulatory changes impacting the affordable housing sector. With a portfolio of 72 properties, FG Communities is a notable player in the niche market of preserving and improving affordable housing.

What we're watching

Growth Sustainability
The continued population growth in the Charlotte metropolitan area will be crucial for FG Communities' strategy, as increased demand drives property values and resident affordability.
Affordability Pressure
Rising interest rates and construction costs could compress margins and challenge FG Communities' ability to maintain affordability for residents while generating returns for investors.
Expansion Pace
The pace of future acquisitions will likely be constrained by capital availability and the identification of suitable properties aligning with FG Communities' mission and investment criteria.

FG Communities Expands Triangle Footprint with North Carolina Acquisition

Event summary

  • FG Communities completed an acquisition in Fuquay-Varina, North Carolina, on January 28, 2026.
  • The acquired community spans 14 acres and is located in Wake County, approximately 20 miles south of Raleigh.
  • FG Communities now manages a portfolio of 71 properties with over 3,000 homesites.
  • The acquisition was led by CEO Michael Anise, alongside co-founders Joe Moglia and Kyle Cerminara.

The big picture

FG Communities’ acquisition strategy is directly tied to the broader trend of population migration to the Southeast and the resulting demand for affordable housing options. The company’s focus on preserving existing communities, rather than developing new ones, positions it uniquely within the real estate landscape, but also exposes it to risks associated with aging infrastructure and regulatory changes. With a portfolio exceeding 3,000 homesites, FG Communities’ performance will increasingly reflect the health of the broader manufactured housing sector.

What we're watching

Growth Sustainability
The rapid population growth in the Triangle area may intensify competition for affordable housing assets, potentially impacting FG Communities’ ability to maintain acquisition margins.
Regulatory Risk
Increased scrutiny of manufactured housing communities and affordability initiatives at the state and local levels could introduce operational and financial headwinds for FG Communities.
Capital Deployment
Given the company’s self-managed structure and growing portfolio, the efficiency and scalability of FG Communities’ internal operations will be critical to sustaining its acquisition pace.

FG Communities Expands Asheville Footprint with Canton, NC Acquisition

Event summary

  • FG Communities finalized the acquisition of a manufactured housing community in Canton, North Carolina.
  • The acquisition expands FG Communities’ presence in the Asheville market, a key strategic region.
  • FG Communities currently manages a portfolio of 70 properties with over 3,000 homesites.
  • Michael Anise, CEO of FG Communities, highlighted the community’s combination of natural beauty, recreation, and local character.

The big picture

FG Communities’ acquisition strategy targets a niche within the broader real estate market: preserving and improving affordable manufactured housing. The company’s expansion into the Asheville area reflects a broader trend of investors seeking stable, income-generating assets in areas with strong local economies and desirable lifestyles. With a portfolio of 70 properties and over 3,000 homesites, FG Communities is establishing itself as a significant player in this specialized segment.

What we're watching

Market Saturation
The company’s continued focus on Western North Carolina raises questions about the sustainability of acquisition opportunities and potential for market saturation in the Asheville area.
Affordability Pressures
Rising interest rates and broader economic pressures could impact the affordability of housing within these communities, potentially affecting occupancy rates and resident demographics.
Operational Efficiency
FG Communities’ ability to improve the quality of life and maintain affordability will depend on operational efficiencies and cost management across its growing portfolio.

FG Communities Expands Triangle Footprint with Selma, NC Acquisition

Event summary

  • FG Communities finalized the acquisition of a manufactured housing community in Selma, North Carolina.
  • The acquired community comprises 80 homesites across 17 acres in Johnston County, east of the Raleigh–Durham metro area.
  • FG Communities now manages a portfolio of 69 properties with over 3,000 homesites.
  • CEO Michael Anise highlighted the acquisition's alignment with the company's focus on growth markets and affordable housing.

The big picture

FG Communities' acquisition strategy is directly tied to the broader trend of population growth and rising housing costs in the Raleigh-Durham metro area and surrounding regions. The company’s focus on manufactured housing communities provides a niche within the affordable housing market, but also exposes it to risks associated with regulatory changes and resident income stability. With a portfolio of over 3,000 homesites, FG Communities is a notable player in this segment, and its growth trajectory will be a key indicator of the viability of this business model.

What we're watching

Market Dynamics
Continued expansion of the Triangle region will likely drive further demand for affordable housing, potentially creating additional acquisition opportunities for FG Communities, but also increasing competition.
Execution Risk
The company's ability to integrate the Selma community and maintain its affordability model will be crucial for realizing the stated long-term value, particularly given rising operational costs.
Capital Needs
FG Communities' ongoing acquisition strategy will necessitate continued access to capital, and the pace of future deals will be influenced by prevailing interest rates and investor sentiment.

FG Communities Deepens Western North Carolina Footprint with Fourth Candler Acquisition

Event summary

  • FG Communities completed its fourth acquisition of a manufactured housing community in Candler, North Carolina.
  • The acquisition expands FG Communities’ presence in Candler, located just west of Asheville.
  • FG Communities now manages a portfolio of 68 properties with over 3,000 homesites.
  • CEO Michael Anise cited strong fundamentals and long-term growth potential in Western North Carolina as justification for the expansion.

The big picture

FG Communities’ strategy of consolidating the manufactured housing market through targeted acquisitions in growth regions like Western North Carolina is gaining scale. The company’s focus on affordability, coupled with the broader real estate boom, positions it for potential growth, but also exposes it to risks associated with market saturation and demographic shifts. The company's AUM of over $3 billion, based on the number of homesites, suggests a significant player in the manufactured housing space.

What we're watching

Market Saturation
Continued acquisitions in Candler suggest FG Communities is approaching market saturation, which could lead to diminishing returns or increased acquisition costs.
Operational Efficiency
The stated goal of operational efficiency through scale will be tested as FG Communities integrates these additional properties and manages a larger geographic footprint.
Demographic Shifts
The ongoing population growth in Asheville and surrounding areas will dictate the long-term viability of FG Communities’ strategy and its ability to maintain affordability.

FG Communities Deepens Asheville Footprint, Signals Regional Focus

Event summary

  • FG Communities acquired a manufactured housing community in Asheville, North Carolina.
  • The acquisition brings FG Communities’ total owned/operated communities in Asheville to five.
  • The community is located eight miles from downtown Asheville, offering access to amenities and outdoor recreation.
  • FG Communities currently manages a portfolio of 67 properties with over 3,000 homesites.
  • CEO Michael Anise attributes the acquisition to population growth and rising real estate prices in the Asheville region.

The big picture

FG Communities’ acquisition strategy is predicated on capitalizing on the demand for affordable housing in growing regions like Asheville. The company’s self-managed structure and focus on manufactured housing communities positions it to potentially generate attractive returns, but also exposes it to risks associated with a niche market and concentrated geographic exposure. With a portfolio of 67 properties, FG Communities is a relatively small player, but its growth trajectory warrants monitoring.

What we're watching

Regional Concentration
The continued focus on Asheville suggests a deliberate strategy of geographic concentration, which could expose FG Communities to localized economic downturns or regulatory changes impacting the area.
Affordability Pressure
While population growth drives demand, maintaining affordability in the face of rising real estate prices will be crucial for FG Communities’ long-term success and resident retention.
Growth Pace
The pace of future acquisitions will be a key indicator of FG Communities’ ability to source suitable properties and manage integration, given the relatively small size of the manufactured housing market.
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