FREEHOLD, NJ, January 21, 2021 (GLOBE NEWSWIRE) – UMH Properties, Inc. (NYSE: UMH) announced that it has closed the acquisition of a community of prefabricated homes located in Sumter, South Carolina, for a total purchase price of approximately $ 3.4 million. This community contains 142 developed lots, of which approximately 49% are occupied. It is situated on approximately 24 hectares.
Samuel A. Landy, President and CEO, commented: “We are pleased to announce another acquisition of added value in a new market. Iris Winds is well located in Sumter, South Carolina. This community is generally in good standing and will benefit from implementing our marketing and rental house strategies. We continue to seek additional acquisitions in these new markets and hope to expand our presence in the Southeast. “
UMH Properties, Inc., which was organized in 1968, is a publicly owned REIT that owns and operates 126 communities of prefabricated homes with approximately 23,700 developed homes. These communities are located in New Jersey, New York, Ohio, Pennsylvania, Tennessee, Indiana, Maryland, Michigan, Alabama and South Carolina. In addition, the Company has a REIT bond portfolio.
Contact: Nelli Madden
732-577-9997
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