UMH PROPERTIES, INC. ANNOUNCES ACQUISITION OF A GEORGIA COMMUNITY
Rhea-AI Summary
UMH Properties (NYSE: UMH) closed the acquisition of Albany Dunes in Albany, Georgia for $2.6 million on October 7, 2025. The community has 130 developed homesites on 43 acres with 42 occupied sites (32% occupancy). Albany Dunes sits less than two miles from UMH’s Opportunity Zone Fund community, Mighty Oak, which the company expects will create operational efficiencies and higher profitability.
UMH said it will apply a value-add upgrade plan to raise occupancy and property value. Year-to-date the company completed 5 acquisitions totaling 587 sites for $41.7 million. UMH owns and operates 145 communities with ~27,000 developed homesites and ~10,800 rental homes.
Positive
- Acquisition adds 130 developed homesites
- Purchase price of $2.6 million
- Community located 2 miles
- Year-to-date 5 acquisitions totaling 587 sites for $41.7M
- UMH portfolio: 145 communities and ~27,000 sites
Negative
- Current occupancy at 32% (42 of 130 sites)
- Asset requires value-add upgrades to grow occupancy
News Market Reaction – UMH
On the day this news was published, UMH gained 0.28%, reflecting a mild positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
FREEHOLD, NJ, Oct. 07, 2025 (GLOBE NEWSWIRE) -- UMH Properties, Inc. (NYSE: UMH; TASE: UMH) closed on the acquisition of a manufactured home community, located in Albany, Georgia for a total purchase price of
Samuel A. Landy, President and Chief Executive Officer, commented, “We are pleased to complete the acquisition of Albany Dunes, further expanding our footprint in the Georgia market. This community is less than two miles from our Opportunity Zone Fund’s existing Georgia community, Mighty Oak, which should create efficiencies in our operation and result in greater profitability.”
“Albany Dunes is a value-add community that contains 130 sites, of which 42 are currently occupied. We will implement our typical business plan of upgrading the community, which should result in growing occupancy rates and property level value over time.”
“Year-to-date, we have completed the acquisition of five communities, containing 587 sites, for a total purchase price of
UMH Properties, Inc., which was organized in 1968, is a public equity REIT that owns and operates 145 manufactured home communities, containing approximately 27,000 developed homesites, of which 10,800 contain rental homes, and over 1,000 self-storage units. These communities are located in New Jersey, New York, Ohio, Pennsylvania, Tennessee, Indiana, Maryland, Michigan, Alabama, South Carolina, Florida and Georgia. Included in the 145 communities are two communities in Florida, containing 363 sites, and one community in Pennsylvania, containing 113 sites, that UMH has an ownership interest in and operates through its joint venture with Nuveen Real Estate.
Contact: Nelli Madden
732-577-9997
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FAQ
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