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UMH acquires 1,800-home portfolio in $67.5M deal

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UMH Properties Inc., of Freehold, announced Friday it closed on the acquisition of a portfolio of 10 manufactured home communities in a $67.5 million transaction.

The housing communities contain a total of 1,854 developed home sites on approximately 400 total acres. Five sites are in Indiana, four in Pennsylvania and one is in Michigan. According to a news release, the average occupancy for these communities is approximately 85 percent.

UMH said including these developments, the company owns 67 communities consisting of approximately 12,500 developed home sites.

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