UMH Properties, Inc. Contracts To Acquire 10 Manufactured Home Communities
FREEHOLD, N.J., Dec. 27, 2012 /PRNewswire/ -- UMH Properties, Inc. (NYSE: UMH) announced today that it has entered into a definitive agreement to acquire 10 manufactured home communities for approximately $67.5 million. These 10 all-age communities total 1,855 sites situated on 300 acres. There are five communities located in Indiana, four communities located in Pennsylvania, and one community located in Michigan. The average occupancy for these communities is approximately 83%.
The transaction is expected to be completed during the first quarter of 2013. This acquisition is subject to due diligence and other customary closing conditions and therefore there can be no assurance that this acquisition will take place in the first quarter of 2013 or at all.
UMH Properties, Inc., a publicly-owned real estate investment trust currently owns and operates fifty-seven manufactured home communities with approximately 10,600 total home sites located in New Jersey, New York, Pennsylvania, Ohio, Tennessee and Indiana. In addition, the Company owns a portfolio of REIT securities.
SOURCE UMH Properties, Inc.
More by this Source
UMH Properties, Inc. Announces New Acquisitions
Mar 01, 2013, 16:19 ET
UMH Properties, Inc. Declares Common And Preferred Dividends
Jan 16, 2013, 15:32 ET
UMH Properties, Inc. Announces New Acquisition
Dec 19, 2012, 16:37 ET
Featured Video
Journalists and Bloggers
Visit PR Newswire for Journalists for releases, photos, ProfNet experts, and customized feeds just for Media.
View and download archived video content distributed by MultiVu on The Digital Center.
Custom Packages
Browse our custom packages or build your own to meet your unique communications needs.
Learn about PR Newswire services
Request more information about PR Newswire products and services or call us at (888) 776-0942.