Updating a story MHProNews posted Nov. 8, 2013, Marcus & Millichap’s Cleveland office represented Melrose MHP LLC in closing the sale of five manufactured housing communities (MHCs) to real estate investment trust (REIT) UMH Properties for $11.8 million. According to rejournals.com, the homesites cost $22,736 per. UMH has been particularly aggressive recently in acquiring communities near the Utica and Marcellus Shale energy drilling region that encompasses eastern Ohio and western Pennsylvania and New York. This addition of four of the communities in Ohio and one in New York to its stable brings UMH’s portfolio to 74 communities comprised of 13,400 developed home sites.
(Photo credit: UMH Properties, Inc.)