UMH Properties Announces New Mortgage Loan

by Benzinga Staff
February 3, 2012 3:16 PM | 22 seconds read | Make a Comment

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UMH Properties, Inc. (NYSE: UMH) today announced that it has entered into a new $11,400,000 mortgage loan with Bank of America, N.A. to refinance two manufactured home communities located in Tennessee and Ohio. This mortgage is at a fixed all-in rate of 4.39%, with monthly principal payments of $26,113. The maturity date is February 1, 2017 but may be extended for an additional two years at an interest rate of LIBOR plus 3.25%.

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