UMH Properties, Inc. Announces New Acquisition
FREEHOLD, N.J., April 2, 2013
FREEHOLD, N.J., April 2, 2013 /PRNewswire/ -- UMH Properties, Inc. (NYSE: UMH)
announced that it has acquired Holiday Mobile Village, a 274-site manufactured
home community situated on approximately 68 acres, located in Nashville,
Tennessee, for a purchase price of $7,250,000. The occupancy for this
community is approximately 82%. With this purchase, UMH now owns sixty-eight
manufactured home communities consisting of approximately 12,800 developed
Samuel A. Landy, President, stated, "We are pleased to announce the
acquisition of this community. This acquisition strengthens our position in
this dynamic market. We intend to increase occupancy by implementing our sales
and rental programs. The Company remains very well positioned to continue to
execute its growth strategy and we anticipate additional acquisitions in
UMH Properties, Inc., a publicly owned REIT, owns and operates sixty-eight
manufactured home communities with approximately 12,800 developed home sites
located in New Jersey, New York, Ohio, Pennsylvania, Tennessee, Indiana and
Michigan. In addition, the Company owns a portfolio of REIT securities.
SOURCE UMH Properties, Inc.
Contact: Susan M. Jordan, 732-577-9997
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