UMH AGREES TO BUY 11 HOUSING COMMUNITIES

FREEHOLD, N.J. — UMH Properties has agreed to purchase 11 manufactured home communities in Pennsylvania and New York for $28.2 million. Ten of the communities are located in Pennsylvania and one is in New York. The transaction is expected to close in the third quarter of this year. The properties total 966 sites on 200 acres. The average occupancy for the communities is 92 percent. UMH Properties is a publicly owned REIT based in Freehold.