FOR IMMEDIATE RELEASE
March 1, 2013
Contact: Susan M. Jordan
732-577-9997
UMH PROPERTIES, INC. ANNOUNCES NEW ACQUISITIONS
FREEHOLD, NJ, March 1, 2013………….UMH Properties,Inc. (NYSE: UMH) announcedthat it closed on the acquisition of 10 manufactured home communities for $67,500,000. These 10 all-age communitiescontain atotalof1,854developed homesitesthat aresituated onapproximately 400totalacres. This 10 community portfolio consists offive communities located in Indiana,fourcommunities located in Pennsylvania, and onecommunitylocated inMichigan.The average occupancy for these communities is approximately 85%.With this closing, UMH owns sixty-seven communities consisting of approximately12,500developed homesites.
Samuel A. Landy, President, stated,“With this acquisition, UMH has increasedits portfolio byapproximately18%. These communities arean excellent fit with our existingportfolio.We believe that all of these communities will benefit from our sales and rental programs.Additionally, we have a strong acquisition pipelinein placeand expect continued growth throughout the remainder of 2013.”
UMH Properties, Inc., a publicly-ownedReal Estate Investment Trust, owns and operatessixty-seven manufactured home communities with approximately12,500developed homesites located in New Jersey, New York,Ohio, Pennsylvania,Tennessee,Indiana, and Michigan. In addition, the Company owns a portfolio of REIT securities.
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