After Christmas Shopping for UMH?

IstockAnalyst reports MHC owner UMH Properties, Inc. has agreed to purchase ten all-age manufactured home communities comprised of 1,855 homesites on 300 acres for $67.5 million. Five of the communities are in Ind., four in Penn. and one in Mich. with an average occupancy of 83 percent. While the transaction is set to be completed in the first quarter of 2013, due to customary closing conditions and due diligence there is no assurance the deal will be sealed in the first quarter, or at all. The seller was not immediately identified. MHProNews knows UMH owns and operates 57 MHCs with 10,600 homesites in six states. UMH closed down -1.17% today at 10.11.

(Photo credit: UMH Properties, Inc.)


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