UMH PROPERTIES, INC. COMPLETES THE ACQUISITION OF THE COMMUNITY OF MADE IN OHIO HOUSES
FREEHOLD, NJ, June 01, 2021 (GLOBE NEWSWIRE) – UMH Properties, Inc. (NYSE: UMH) announced the closing of the acquisition of a manufactured home community located in Sandusky, Ohio for a total purchase price of approximately $ 10.3 million. This community contains 206 developed residential sites, of which approximately 86% are occupied. It is located on approximately 56 acres.
Samuel A. Landy, President and CEO, said, “Bayshore Estates is well situated in our current footprint. Ohio has been one of our top performing states and we are excited to add this community to our portfolio. The community is generally in good shape, but we plan to improve operating results by investing in infrastructure and filling the remaining vacant sites with homes for rent and for sale. We continue to seek additional acquisitions that meet our growth criteria. “
UMH Properties, Inc., which was incorporated in 1968, is a public REIT that owns and operates 127 manufactured home communities with approximately 24,000 residential sites developed. These communities are located in New Jersey, New York, Ohio, Pennsylvania, Tennessee, Indiana, Maryland, Michigan, Alabama and South Carolina. In addition, the Company holds a portfolio of REIT securities.
Contact: Nelli Madden
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