FG Communities Holdings (Nasdaq: FGC, FGCPP) has completed the acquisition of a manufactured housing community in Garner, North Carolina. The property adds 49 homesites on over 59 acres in the Raleigh metropolitan area. Garner is southeast of Raleigh in North Carolina’s Research Triangle region, and the location gives residents access to employment, shopping and services.
The company intends to preserve the communities it acquires while investing in improvements for residents. Chairman and CEO Kyle Cerminara described the Garner community as fitting the company’s strategy of acquiring income-producing properties in growing markets with a need for affordable housing. He also outlined plans to pursue additional acquisitions, with the stated goal of improving communities for residents and building long-term shareholder value.