PRNewsWire reports Freehold, New Jersey-based UMH Properties, Inc. announced it closed on the acquisition of eleven manufactured home communities comprised of 968 home sites situated on 200 acres for $28,250,000. With a 92% occupancy rate, ten of the communities are in Pennsylvania, and one is in New York. The publicly-owned real estate investment trust (REIT) now owns and operates 53 MHCs comprised of 10,100 home sites in four additional states as well: Indiana, Tennessee, New Jersey, and Ohio. MHProNews posted on its stock report UMH gained +3.96% in today’s trading.
(Photo credit: UMH Properties, Inc.)