UMH Properties to acquire 10 manufactured home communities
UMH Properties is to acquire 10 manufactured home communities for approximately USD67.5m.
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, with average occupancy rates of approximately 83 per cent.
The transaction, which is expected to be completed during the first quarter of 2013, is subject to due diligence and other customary closing conditions.