Offering summary
FG Communities Candler Indian Creek DST is an all-equity Delaware Statutory Trust offering structured to raise $6,042,049 in equity. The offering is secured by a 51-unit manufactured housing community located on an 8.14-acre site in Candler, North Carolina. The property was acquired for $5,050,000, matching its as-is appraised market value of $5,050,000 as of December 10, 2025. The transaction utilizes 0% leverage, resulting in an acquisition LTV and offering LTV of 0%. Year 1 projected distribution is 5.00%, with an average projected distribution of 5.75% across the full 10-year term. Total front-end fees and offering expenses are $654,205, reflecting a load on equity of 10.83%.
Capital raise
0.0% of the offering is closed
$6,042,049 still available
$6,042,049
$0
0.0% of offering$0
Pending subscription$6,042,049
Open for subscriptionThe sponsor is raising $6,042,049 in equity with zero debt. Selling commissions and broker-dealer allowances represent the primary syndication costs alongside sponsor acquisition fees of $101,000.
Offering terms
Sector
Manufactured Housing Community
Investment Category
DST
Projected First Year Cashflow
5%
Avg. 5.75% over term
Min. Cash Investment
—
Min. 1031 Investment
—
Total Offering Price
$6,042,049
$118,472 per unit
Offering Debt
$0
All-equity offering
LTV
0%
On acquisition price
Units / Tenants
51
Candler, NC
Property Age
—
The offering covers a 51-unit manufactured housing community in Candler, NC, capitalized entirely with $6,042,049 of equity and $0 in debt. Projected income starts at 5.00% in Year 1, averaging 5.75% across the 10-year holding term. The property's appraised value of $5,050,000 represents 83.63% of the total offering price.
Strengths & considerations
Key strengths
Zero Debt Structure
0% LTVThe offering is capitalized with $6,042,049 in equity and $0 in debt, eliminating interest rate and maturity refinance risks.
Appraisal Alignment
$5,050,000The acquisition price of $5,050,000 matches the as-is appraised market value determined as of December 10, 2025.
Funded Reserves
$100,000The transaction includes $100,000 in upfront funded reserves allocated for property improvements and master tenant obligations.
Key considerations
First-Time DST Sponsor
0 DSTsThis is the sponsor's first individual private offering involving a Delaware Statutory Trust structure.
Offering Price Premium
83.63%The appraised market value represents 83.63% of the total offering equity due to $654,205 in front-end fees and expenses.
Property Age Undisclosed
Not DisclosedThe offering materials do not disclose the property's year built or exact vintage for the 51-unit community.
The investment structure carries zero leverage with an Offering LTV and Acquisition LTV of 0%, removing debt service obligations and refinancing risks. The initial acquisition price of $5,050,000 aligns with the third-party appraised value. Additionally, the master tenant structure includes $100,000 in funded upfront reserves.
Sources, uses & fee assessment
Capital Sources
- $6.04M
Offering Equity
100.0% of offering
Where the Capital Goes
- $5.29M
Acquisition Cost
87.5% of offering
- $654K
Offering Expenses
10.8% of offering
- $100K
Reserves
1.7% of offering
Total Offering
$6.04M
All equity — no mortgage debt
Acquisition Cost
$5.29M
87.5% of offering to the property
Total Fees & Expenses
$654K
10.83% of offering
Reserves
$100K
1.7% of offering
Total offering proceeds of $6,042,049 are allocated to the $5,050,000 purchase price, $237,844 in acquisition and title/closing costs, $100,000 in reserves, and $654,205 in total front-end syndication fees and offering expenses.
Risk read
Tone reflects relative strength, not a rating
Leverage Profile
PositiveThe offering employs zero leverage with a 0% LTV, removing interest rate, balloon payment, and foreclosure risks.
Sponsor Track Record
CautionThis offering is the sponsor's initial DST syndication, though principals have broad retail and MHC operating experience.
Front-End Load
CautionFront-end offering fees and expenses total $654,205 (10.83% load), leaving an appraised-value-to-offering ratio of 83.63%.
Data Transparency
NeutralThe offering materials do not disclose the year built or original construction vintage of the 51 homesite asset.
Key considerations include the sponsor's lack of prior DST program track record, having completed 0 prior DST offerings. The offering price includes a 10.83% load over total acquisition costs, bringing the appraisal-to-offering ratio to 83.63%. Property-specific operating details such as exact year built are not disclosed in the offering materials.
Calculated underwriting metrics
Syndicated Cap Rate
—
NOI ÷ offering price
Upfront Load
10.83%
Total fees ÷ offering price (all-equity offering)
Premium / Discount
—
Offering price vs. appraised value
Offering vs. Acquisition
119.6%
Offering price ÷ acquisition price
Price per Unit
$118,472
Offering price ÷ 51 units
Total front-end fees and offering expenses stand at $654,205, representing an equity load of 10.83%. Total acquisition costs including reserves amount to $5,387,844 against a total equity raise of $6,042,049. The appraisal-to-offering price ratio is 83.63%, reflecting the syndication fee load.
Sponsor
Sponsor
FG Communities
FG Communities manages a portfolio of over 3,500 manufactured housing sites owned or under contract. While the firm's principals possess prior real estate and retail property management experience, this represents the sponsor's first DST syndication.
• FG Communities has a growing portfolio of over 3,500 homesites, including properties owned or under contract to be acquired as of 4/23/2026.
Properties owned or managed
—
Across all programs
0
Prior DST offerings
—
DST-held assets
—
Disclosed headcount
Manufactured Housing Community
Stated strategy
FG Communities manages a broader portfolio encompassing over 3,500 homesites owned or under contract. While the principals bring prior experience in real estate and retail property management, this transaction represents the sponsor's first Delaware Statutory Trust offering (# DSTs: 0).