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UMH Properties, Inc.
UMH
announced today that it has entered into a definitive agreement to acquire 10
manufactured home communities for approximately $67.5 million. These 10
all-age communities total 1,855 sites situated on 300 acres. There are five
communities located in Indiana, four communities located in Pennsylvania, and
one community located in Michigan. The average occupancy for these communities
is approximately 83%.
The transaction is expected to be completed during the first quarter of 2013.
This acquisition is subject to due diligence and other customary closing
conditions and therefore there can be no assurance that this acquisition will
take place in the first quarter of 2013 or at all.
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