SAMUEL A. LANDY, PRESIDENT AND CHIEF EXECUTIVE OFFICER OF UMH PROPERTIES, INC., INDUCTED INTO THE RV/MH HALL OF FAME

Rhea-AI Summary

UMH Properties, Inc. (NYSE: UMH) (TASE: UMH) announced that Samuel A. Landy, President and CEO, was inducted into the RV/MH Hall of Fame on August 19, 2024. Under Landy's leadership since 1995, UMH has grown from 22 communities with 4,200 homesites to 136 communities with 25,800 homesites. His strategy focused on acquiring and improving value-add communities, expanding existing ones, and developing new sites. UMH Sales and Finance, Inc. has sold over 5,700 manufactured homes and financed over $100 million in consumer loans. The company now manages 10,200 rental homes. Eugene W. Landy, Founder and Chairman, praised Sam's contributions to affordable housing and industry leadership.

Positive

• Significant portfolio growth from 22 to 136 communities under Samuel A. Landy's leadership
• Successful launch of UMH Sales and Finance, Inc., selling over 5,700 homes and financing $100 million in loans
• Development of a rental portfolio with 10,200 homes
• Recognition of CEO's contributions through induction into the RV/MH Hall of Fame
• Company's capability to build high-quality, affordable manufactured home communities

Negative

• None.

FREEHOLD, NJ, Aug. 20, 2024 (GLOBE NEWSWIRE) -- UMH Properties, Inc. (NYSE: UMH) (TASE: UMH) is pleased to announce that on August 19, 2024, Samuel A. Landy, President and Chief Executive Officer, was inducted into the RV/MH Hall of Fame.

Mr. Landy started his career at UMH in 1991 and was promoted to his current role of President and Chief Executive Officer in 1995. Under his leadership, UMH has grown its portfolio of manufactured housing communities from 22 communities containing approximately 4,200 homesites in 1991 to 136 communities containing approximately 25,800 homesites, currently. His strategy of acquiring value-add communities with vacancies and deferred maintenance has allowed UMH to acquire and improve communities while adding to the supply of affordable housing in the markets that we operate. He has also championed the expansion of existing communities and the greenfield development of new communities.

Over the course of his career, UMH successfully launched UMH Sales and Finance, Inc., which has sold over 5,700 manufactured homes and financed over $100 million of manufactured home loans for consumers. As finance laws changed and made financing homes challenging, Mr. Landy pivoted to a rental model and UMH now has a portfolio of 10,200 rental homes. Mr. Landy is directly responsible for the past and future success of UMH Properties, Inc.

Eugene W. Landy, Founder and Chairman of the Board, commented, “Gratitude and recognition for my son, Sam Landy, is truly appropriate. Not only has he helped create affordable housing in the past, but he has created a best-in-class operating platform for greater housing prosperity in the future. Additionally, he has become a leader for the entire manufactured housing industry. He has continually pushed for innovation and progress to better serve the Nation’s housing needs.”

UMH is capable of building many high-quality and affordable manufactured home communities each year. This capability is at a time when the world of affordable housing is of great social concern. Recently, the federal government appropriately recognized that manufactured housing can be an essential part of the solution in creating the needed affordable housing supply.

Sam’s induction into the MH/RV Hall of Fame is in recognition of his personal lifetime efforts to source governmental recognition for the manufactured housing industry. I am proud to have worked with and watched Sam grow into the great President and CEO that he is today.”

UMH Properties, Inc., which was organized in 1968, is a public equity REIT that owns and operates 136 manufactured home communities containing approximately 25,800 developed homesites. These communities are located in New Jersey, New York, Ohio, Pennsylvania, Tennessee, Indiana, Maryland, Michigan, Alabama, South Carolina and Georgia. UMH also has an ownership interest in and operates two communities in Florida, containing 363 sites, through its joint venture with Nuveen Real Estate.

Contact: Nelli Madden
732-577-4062

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Attachment

• UMH Properties, Inc.

FAQ

When was Samuel A. Landy inducted into the RV/MH Hall of Fame?

Samuel A. Landy was inducted into the RV/MH Hall of Fame on August 19, 2024.

How many communities and homesites does UMH Properties (UMH) currently own?

UMH Properties (UMH) currently owns 136 communities containing approximately 25,800 developed homesites.

How many manufactured homes has UMH Sales and Finance, Inc. sold?

UMH Sales and Finance, Inc. has sold over 5,700 manufactured homes.

What is the size of UMH Properties' (UMH) rental home portfolio?

UMH Properties (UMH) has a portfolio of 10,200 rental homes.

In which year did Samuel A. Landy become President and CEO of UMH Properties (UMH)?

Samuel A. Landy was promoted to the role of President and Chief Executive Officer of UMH Properties (UMH) in 1995.