UMH PROPERTIES, INC. SECURES NEW FANNIE MAE MORTGAGE

Rhea-AI Summary

UMH Properties (NYSE: UMH) secured on August 28, 2026 a new Fannie Mae mortgage, arranged through Wells Fargo, on a 267-site community for approximately $10.2 million. The loan is interest-only, carries a fixed 6.03% rate and has a 10-year term.

Earlier in 2026, UMH repaid the existing $2.8 million mortgage on this property, generating $7.4 million in additional proceeds. According to UMH, funds will support acquisitions, community expansions, new rental homes and short-term repayment of higher-rate debt. The refinanced community, acquired in 2014 at 69% occupancy, has been renovated and increased to 95% occupancy, with further expansion planned.

Positive

• $10.2 million new Fannie Mae mortgage at 6.03% fixed for 10 years
• Refinancing produced $7.4 million in additional proceeds after repaying $2.8 million prior mortgage
• Community occupancy increased from 69% in 2014 to 95% after renovations and rental program
• UMH platform scale: 145 communities with ~27,100 sites and over 1,000 self-storage units

Negative

• New interest-only debt obligation of approximately $10.2 million at 6.03% fixed for 10 years

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

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FREEHOLD, NJ, Aug. 31, 2026 (GLOBE NEWSWIRE) -- UMH Properties, Inc. (NYSE: UMH) (TASE: UMH) today announced that on August 28, 2026 it secured a new Fannie Mae mortgage for one of its communities containing 267 sites, through Wells Fargo Bank, N.A., for total proceeds of approximately $10.2 million. This interest-only loan is at a fixed rate of 6.03% with a 10-year term. Earlier this year, we paid off the existing $2.8 million mortgage on this community, generating $7.4 million in additional proceeds. The proceeds will be used to invest in additional acquisitions, expansions, rental homes and repay higher interest rate debt on a short-term basis.

Samuel A. Landy, President and Chief Executive Officer, commented “We are proud to complete another successful financing with Fannie Mae and Wells Fargo. Our long-term value-added business plan generates substantial increases in community value which we can realize through refinancing and investing the additional proceeds in new rental homes, expansions, acquisitions and other accretive uses. This community was acquired in 2014. At the time of the acquisition, the community was only 69% occupied. During our time of ownership, we have substantially renovated the community and through the implementation of our rental home program, increased occupancy to 95%. Additionally, we are planning an expansion at this community which will further increase its value. Our ability to acquire value-add communities, complete necessary improvements and increase occupancy through our sales and rental programs generates meaningful property level value.

“We are proud of our team and our lending partners at Wells Fargo and Fannie Mae for completing this transaction. We look forward to deploying this capital into our business, which will allow us to provide our Nation with additional affordable housing while generating significant long-term results for our shareholders.”

UMH Properties, Inc., which was organized in 1968, is a public equity REIT that currently owns and operates 145 manufactured home communities, containing approximately 27,100 developed home-sites, of which 11,200 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 ventures with Nuveen Real Estate.

Contact: Nelli Madden
732-577-4062

FAQ

What did UMH Properties (NYSE: UMH) announce on August 31, 2026 about its new Fannie Mae mortgage?

UMH announced a new Fannie Mae mortgage of approximately $10.2 million on a 267-site community. According to UMH, the interest-only loan has a fixed 6.03% rate, a 10-year term, and was arranged through Wells Fargo, replacing a smaller prior mortgage.

What are the key terms of UMH Properties' new Fannie Mae loan (UMH) secured on August 28, 2026?

The new Fannie Mae loan totals about $10.2 million, is interest-only, fixed at 6.03%, with a 10-year term. According to UMH, the mortgage is secured on a 267-site manufactured home community and was financed through Wells Fargo as lender.

How will UMH Properties (NYSE: UMH) use the $10.2 million Fannie Mae mortgage proceeds and what could this mean for shareholders?

UMH plans to use proceeds for acquisitions, expansions, rental homes and repaying higher-rate debt. According to UMH, reinvesting this capital into additional communities and rental units aims to support growth, community value and potential long-term returns for its shareholders.

How has occupancy changed at the UMH community refinanced with the new Fannie Mae mortgage (UMH)?

Occupancy at the refinanced community rose from 69% at 2014 acquisition to 95% currently. According to UMH, renovations and its rental home program drove the occupancy increase, and the company is planning an expansion at this community to further enhance its value.

How many manufactured home communities does UMH Properties (NYSE: UMH) own and where are they located?

UMH currently owns and operates 145 manufactured home communities with about 27,100 developed home-sites. According to UMH, these properties span New Jersey, New York, Ohio, Pennsylvania, Tennessee, Indiana, Maryland, Michigan, Alabama, South Carolina, Florida and Georgia, including several joint-venture communities.

What portion of UMH Properties' portfolio consists of rental homes and self-storage units as of August 2026?

UMH reports roughly 11,200 rental homes within its approximately 27,100 developed home-sites, plus over 1,000 self-storage units. According to UMH, these rental homes and storage units are spread across its 145 manufactured home communities in multiple U.S. states.