FREEHOLD, N.J., June 30, 2011 /PRNewswire/ -- UMH Properties,
Inc. (NYSE Amex: UMH) announced today that it has closed on the
acquisition of 3 manufactured home communities located in
Tennessee for a total purchase
price of $13,300,000. With this
closing, UMH owns 38 manufactured home communities containing
approximately 8,744 total sites.
These 3 all-age family communities total 693 sites situated on
209 acres. The average occupancy for these communities is
approximately 73%.
Samuel A. Landy, President,
stated, "We are very pleased to announce the closing of this
acquisition. UMH has invested a total of $50,800,000 in new acquisitions over the past 13
months, adding to its portfolio 10 communities, consisting of 1,924
total home sites. We are well capitalized and anticipate continued
growth in the second half of 2011."
UMH Properties, Inc., a publicly owned real estate investment
trust owns and operates thirty-eight manufactured home communities
with 8,744 total home sites located in New Jersey, New
York, Pennsylvania,
Ohio and Tennessee. In addition, the Company owns
a portfolio of REIT securities.
SOURCE UMH Properties, Inc.