UMH Properties, Inc. Announces New Acquisition
FREEHOLD, N.J., July 27, 2012 /PRNewswire/ -- UMH Properties, Inc. (NYSE: UMH) announced that on July 26, 2012, it has closed on the acquisition of Meadowood, a 123-site manufactured home community situated on approximately 20 acres, located in New Middletown, Mahoning County, Ohio, for a purchase price of $3,400,000. With this purchase, UMH now owns forty-two manufactured home communities consisting of over 9,100 developed homesites.
Samuel A. Landy , President, stated, "We are pleased to announce the acquisition of this community. The operation of Meadowood will fit in nicely with our existing Ohio communities. This well-located, age 55 and older community is a welcome addition to our growing portfolio."
UMH Properties, Inc., a publicly owned REIT, owns and operates forty-two manufactured home communities with over 9,100 developed homesites located in New Jersey, New York, Ohio, Pennsylvania, Tennessee and Indiana. In addition, the Company owns a portfolio of REIT securities.
SOURCE UMH Properties, Inc.
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