UMH PROPERTIES, INC. COMPLETES ACQUISITION OF TWO MARYLAND MANUFACTURED HOME COMMUNITIES
UMH Properties (NYSE: UMH) has completed the acquisition of two manufactured home communities in Conowingo, Maryland for $14.625 million.
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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
Details
News Market Reaction – UMH
The recorded move for UMH in the trading session of this news was +1.11%.
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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
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
“Year to date, we have completed the acquisition of four communities, containing 457 sites, for a total purchase price of
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
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