FG Nexus will invest $10 million in privately held FG Communities for about 10% of the outstanding common stock.
The transaction supports a shift toward acquiring land-lease affordable housing communities, alongside direct property purchases funded by cash, debt and stock issuance.
FG Communities will remain independently operated, with 96 communities and more than 4,000 home sites owned or pending acquisition.
The investment was reviewed by an independent special committee because of overlapping directors and officers, including CEO Kyle Cerminara.
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