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GARY AND PORTAGE, IND. — UMH Properties Inc. has acquired Boardwalk and Park Place apartment properties in Indiana for $24.4 million. Boardwalk is located in Gary and Parke Place is in Portage. The two communities contain a total of 559 units and are situated on approximately 155 acres. In conjunction with the acquisition, UMH obtained a $14.2 million Freddie Mac mortgage loan with Wells Fargo. The 10-year loan features a 4.5 percent interest rate and a 30-year amortization schedule.