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UMH acquires 5 manufactured home communities for $11.8M

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Freehold-based UMH Properties Inc. announced Thursday it closed the acquisition of five manufactured home communities for $11,800,000 on November 6.

According to the announcement, the five all-age communities contain a total of 519 developed home sites that are situated on approximately 200 total acres. This portfolio consists of four communities located in Ohio and one community located in New York. The average occupancy for these communities is approximately 82 percent. The company now owns seventy-four communities consisting of approximately 13,400 developed home sites.

Thursday's announcement follows a $1.7 million acquisition announced in October. The company acquired a 1,800-home portfolio early this year for $67.5 million.

Write to the Editorial Department at editorial@njbiz.com

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