CityBiz in Philadelphia reports that MHC operator UMH Properties, Inc., based in Freehold, NJ has passed a resolution to increase the size of its board of directors from nine to ten members. According to Eugene W. Landy, UMH Board Chairman, the tenth spot will be filled by Stuart Levy, vice president of the Real Estate Finance Group of Helaba Landesbank Hessen-Thuringen. Helaba is a major bank in Frankfurt, EGermany, with offices in New York City and other major financial centers around the globe. According to the 22nd Allen Report, UMH Properties is the 25th largest MHC operator in North America with 30 Land Lease Communities (LLC) encompassing 7,222 homesites.
(image credit: UMH)