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.