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News Breaks | | | | December 27, 2012 | | 14:16 EDT |  | UMH | UMH Properties acquires 10 all-age communities for $67.5M
UMH Properties announced that it has entered into a definitive agreement to acquire 10 manufactured home communities for approximately $67.5M. The 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. The 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, UMH said. | |
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