UMH TO ACQUIRE 10 MANUFACTURED HOME COMMUNITIES

by admin

FREEHOLD, N.J. — Freehold-based UMH Properties has agreed to acquire 10 manufactured home communities for $67.5 million. There are five communities located in Indiana, four communities in Pennsylvania and one community in Michigan. The communities total 1,855 sites situated on 300 acres. The average occupancy for the properties is 83 percent. The transaction is expected to close during the first quarter of this year.

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