UMH PROPERTIES, INC.
Juniper Business Plaza
3499 Route 9 North, Suite 3-C
Freehold, NJ 07728
(732) 577-9997
Fax: (732) 577-9980
FOR IMMEDIATE RELEASE
July 16, 2014
Contact: Susan Jordan
732-577-9997
UMH PROPERTIES, INC. ANNOUNCES NEW ACQUISITION
FREEHOLD, NJ, July 16, 2014……..UMH Properties, Inc. (NYSE: UMH) announcedthat it closed on the acquisition offourPennsylvaniamanufactured home communities for $12,200,000. Thesefour all-age communitiesare located in the Pittsburgh metropolitan area andcontain a total of 336 developedhomesites that are situated on approximately239total acres. The average occupancy for these communities is approximately 84%. With this acquisition, UMH ownseighty-six communities consisting of approximately 14,800developedhomesites.
Samuel A. Landy President, stated, “We continue to implement our business plan of purchasing communities in strong geographic areas in close proximity to our existinglocations. These communities are in areas where we expect economic growth due to Marcellus and Utica Shalerelatedindustries. We believe by making capital improvements and adding rental units we will increase the value of these communities and increase their income over time.”
UMH Properties, Inc., which was organized in 1968, is a public equity REIT that owns and operateseighty-sixmanufactured home communitiescontaining approximately 14,800developedhomesites. These communities are 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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