UMH Properties, Inc. Announces New Acquisition
FREEHOLD, N.J., Dec. 19, 2012 /PRNewswire/ -- UMH Properties, Inc. (NYSE: UMH) announced that it has acquired Olmsted Falls, a 125-site manufactured home community situated on approximately 14 acres, located in Olmsted Falls, Ohio, for a purchase price of $3,600,000. With this purchase, UMH now owns fifty-seven manufactured home communities consisting of over 10,600 developed homesites.
Samuel A. Landy, President, stated, "We are pleased to announce the acquisition of this community. UMH has a strong presence in this region and this acquisition will further enhance our strength here. We have now increased our portfolio by more than 50% over the previous three year period and anticipate continuing to acquire communities in 2013."
UMH Properties, Inc., a publicly owned REIT, owns and operates fifty-seven manufactured home communities with over 10,600 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.