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FREEHOLD, NJ, March 31, 2022 (GLOBE NEWSWIRE) -- UMH Properties, Inc. (NYSE: UMH) closed on the acquisition of a manufactured home community located in Monaca, Pennsylvania for a total purchase price of $5.8 million. This community contains 96 developed homesites. It is situated on approximately 18 acres.
Samuel A. Landy, President and Chief Executive Officer, commented, “We are happy to announce the acquisition of this well-located community in Monaca, PA. This community is located near some of our communities that are at or near full occupancy and it complements our existing portfolio. We will implement our proven business plan in order to upgrade the community to UMH’s standards. Our planned improvements should result in increased income and value. We continue to seek additional opportunistic acquisitions that meet our growth criteria.”
UMH Properties, Inc., which was organized in 1968, is a public equity REIT that owns and operates 128 manufactured home communities with approximately 24,100 developed homesites. These communities are located in New Jersey, New York, Ohio, Pennsylvania, Tennessee, Indiana, Maryland, Michigan, Alabama and South Carolina. UMH also has an ownership interest in and operates one community in Florida, containing 219 sites, through its joint venture with Nuveen Real Estate.
umh properties, inc., (umh) is a real estate investment trust (reit) that owns and operates manufactured home communities in seven states throughout the northeast. these states include new jersey, new york, ohio, pennsylvania, tennessee, indiana and michigan. manufactured home communities provide long-term appreciation, recession resistant qualities, and stable income streams. umh has been in business since 1968, operating as a public company since 1985. we own a portfolio of 74 manufactured home communities, housing approximately 13,400 home sites. umh has a subsidiary, umh sales and finance, which sells manufactured homes into its communities. if you are looking to purchase a new home in one of our communities, please visit the umh sales and finance site by clicking this link: www.umhhomesales.com. we encourage you to visit our investors website ir.umh.com where you will find our most recent annual report, letter to shareholders, and sec filings. our website also includes our d
