UMH PROPERTIES, INC. COMPLETES ACQUISITION OF TWO MARYLAND MANUFACTURED HOME COMMUNITIES

Rhea-AI Summary

UMH Properties (NYSE: UMH) has completed the acquisition of two manufactured home communities in Conowingo, Maryland for $14.625 million. The acquired properties, Conowingo Court and Maybelle Manor, contain 191 developed homesites with a 79% occupancy rate across 82 acres.

Maybelle Manor features 49 sites at 100% occupancy, while Conowingo Court has 142 sites with 101 homeowner-occupied units. These communities adjoin UMH's existing Cinnamon Woods property, promising operational efficiencies. Year-to-date, UMH has acquired four communities with 457 sites for $39.2 million.

UMH now operates 143 manufactured home communities with approximately 26,700 developed homesites across 12 states, including 10,600 rental homes and over 1,000 self-storage units.

Positive

• Strategic expansion with two adjacent communities creating operational efficiencies
• Maybelle Manor is 100% occupied with modern, homeowner-occupied units
• Value-add opportunity in Conowingo Court with potential for occupancy growth
• Year-to-date acquisition momentum with 4 communities totaling $39.2 million
• Strong existing portfolio of 143 communities across 12 states

Negative

• 21% vacancy rate across the combined properties
• Significant capital deployment of $14.625 million required for acquisition

News Market Reaction – UMH

+1.11%

+1.11% Session move

In the trading session that priced this news, UMH gained 1.11%, reflecting a mild positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

AI-generated analysis. How Rhea-AI works. Not financial advice.

See more from StockTitan in Google Search and AI answers. Adds StockTitan as a preferred source · opens Google

Add on Google Not now

FREEHOLD, NJ, July 02, 2025 (GLOBE NEWSWIRE) -- UMH Properties, Inc. (NYSE: UMH; TASE: UMH) closed on the acquisition of two manufactured home communities, located in Conowingo, Maryland, for a total purchase price of $14.625 million. These communities contain 191 developed homesites, of which 79% are occupied. They are situated on approximately 82 acres.

Samuel A. Landy, President and Chief Executive Officer, commented, “We are pleased to complete the acquisition of Conowingo Court and Maybelle Manor, further expanding our footprint in the Maryland market. These two communities adjoin our existing Maryland community, Cinnamon Woods, which will create efficiencies in our operation, resulting in higher returns.

“Maybelle Manor is a high-quality stabilized community that contains 49 sites, which are 100% occupied. The community consists of predominantly modern, homeowner occupied, multi-section homes. Conowingo Court is a value-add community that contains 142 sites, of which 101 sites are homeowner occupied. We will implement our typical business plan, which should result in growing occupancy rates and property-level value over time.

“Year to date, we have completed the acquisition of four communities, containing 457 sites, for a total purchase price of $39.2 million. We continue to evaluate acquisition opportunities and anticipate a growing acquisition pipeline as we progress throughout the remainder of the year.”

UMH Properties, Inc., which was organized in 1968, is a public equity REIT that owns and operates 143 manufactured home communities, containing approximately 26,700 developed homesites, of which 10,600 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 143 communities are two communities in Florida, containing 363 sites, that UMH has an ownership interest in and operates through its joint venture with Nuveen Real Estate.

Contact: Nelli Madden
732-577-9997

# # # #

FAQ

How much did UMH Properties (NYSE: UMH) pay for the Maryland acquisitions in 2025?

UMH Properties paid $14.625 million for two manufactured home communities in Conowingo, Maryland, containing 191 developed homesites across 82 acres.

What is the current occupancy rate of UMH Properties' new Maryland acquisitions?

The combined occupancy rate is 79%, with Maybelle Manor at 100% occupancy (49 sites) and Conowingo Court having 101 occupied sites out of 142.

How many manufactured home communities does UMH Properties own as of July 2025?

UMH Properties owns and operates 143 manufactured home communities containing approximately 26,700 developed homesites across 12 states.

What is UMH Properties' total acquisition value year-to-date in 2025?

Year-to-date, UMH has acquired four communities containing 457 sites for a total purchase price of $39.2 million.

How will the Maryland acquisitions benefit UMH Properties operations?

The acquisitions adjoin UMH's existing Cinnamon Woods community, which will create operational efficiencies resulting in higher returns.