FG Communities Expands Western North Carolina Footprint with Hendersonville Acquisition — FG Communities, Inc.

Event summary

FG Communities acquired a 55+ manufactured housing community in Hendersonville, NC, with 110 homesites.
The acquisition strengthens FG Communities' presence in Western North Carolina, bringing its total portfolio to 96 communities with over 4,000 homesites.
The Hendersonville metro area has grown 3.6% since the 2020 Census, driven by relocation for climate, scenery, and lower cost of living.
Michael Anise, CEO of FG Communities, highlighted the community's scenic setting and quality of life as key factors in the acquisition.

The big picture

FG Communities' acquisition in Hendersonville aligns with its strategy of preserving and improving affordable housing in growing regions. The deal reflects a broader industry trend of investing in manufactured housing communities in areas experiencing population growth due to relocation trends. With a portfolio of 96 communities and over 4,000 homesites, FG Communities is positioning itself as a key player in the affordable housing sector, particularly in Western North Carolina.

What we're watching

Portfolio Growth: How FG Communities will integrate this acquisition into its existing portfolio and whether it will continue to focus on Western North Carolina for future expansions.
Market Dynamics: Whether the trend of relocation to areas like Hendersonville for lower cost of living and scenic appeal will sustain the demand for affordable housing in the region.
Operational Efficiency: The pace at which FG Communities can improve and maintain the quality of life for residents in the newly acquired community, aligning with its mission.