International Business Times reports UMH Properties, Inc. (NYSE:UMH) has acquired 141 site Twin Oaks MHC in northern Ohio outside Cleveland for $4,350,000. Based in Freehold, NJ, UMH now owns 56 manufactured home communities comprised of over 10,500 developed homesites in six states east of the Mississippi. President Samuel A. Landy says, “ The operation of Twin Oaks will fit in nicely with our existing Ohio communities. We believe the prospects for the housing market and the MH sector are very favorable and we continue to seek well-located communities.” MHProNews has learned the company, a REIT (real estate investment trust), also maintains a portfolio of REIT securities.
(Photo credit: UMH,Inc.)