Company Invests $10 Million in FG Communities, Inc., Completes First Two Direct Manufactured Housing Acquisitions and Ends Third Quarter with $35.1 Million in Cash
CHARLOTTE, N.C., Nov. 11, 2026 (GLOBE NEWSWIRE) -- FG Communities Holdings Inc.
(Nasdaq: FGC, FGCPP) (formerly FG Nexus Inc.) (the “Company”), a company focused on acquiring and operating income-producing real estate, with an emphasis on manufactured housing communities, announced the filing of its Quarterly Report on Form 10-Q for the third quarter ended September 30, 2026 with the Securities and Exchange Commission, and provided an update on execution of its real estate strategy and its share
repurchase program.
“We made meaningful progress during the third quarter as we continued repositioning FG Communities Holdings around our long-term real estate strategy,” said Kyle Cerminara, Chairman and Chief Executive Officer of FG Communities Holdings. “We ended the quarter with $35.1 million in cash, and in October we completed our first two manufactured housing acquisitions.
Our focus remains on acquiring quality, income-producing properties.”
Business Strategy Update FG Communities Holdings is focused on building a portfolio of income-producing real estate, emphasizing manufactured housing communities that serve the affordable housing market.
Following Board approval of its affordable housing acquisition strategy, the Company invested $10.0 million in FG Communities, Inc. and completed its first two direct manufactured housing acquisitions in October, establishing the foundation for growth as a real estate operating company.
The Company’s initial manufactured housing acquisitions, completed in October 2026, represent the beginning of its direct ownership strategy. The Garner community includes 49 homesites on more than 59 acres in the Raleigh metropolitan area, and the Mars Hill community includes 29 homesites on 19 acres near Asheville.
The Company intends to pursue additional acquisitions to build recurring rental income and scale its real estate operations. Consistent with its previously announced strategy, future acquisitions may be funded through a combination of cash on hand, debt financing and proceeds from common stock issuances, depending on property characteristics, market conditions and capital allocation priorities.
Our ability to implement this strategy will depend on the availability of suitable properties, acquisition pricing, financing terms and our available capital. The Company also maintains merchant banking operations and investments in other businesses.
Third Quarter Financial Results For the three months ended September 30, 2026, the Company reported revenue from continuing operations of $232,000, compared with $251,000 for the corresponding period in 2025.
The Company reported a loss from continuing operations of $218,000, compared with a loss of $17.4 million in the prior-year period. Net loss was $355,000, compared with $3.4 million in the third quarter of 2025.
As of September 30, 2026, the Company reported total assets of $59.8 million, total liabilities of $4.5 million and stockholders’ equity of $55.3 million.
As the Company’s property portfolio grows, rental revenue and property operating expenses are expected to represent a larger portion of its results of operations. Until such time as the portfolio reaches scale, corporate expenses, preferred stock dividends and other obligations will continue to require funding from available cash and…
