- UMH Properties (NYSE:UMH) buys two communities in Anderson, IN, for $20.5M. UMH +0.34% in after-hours trading.
- The portfolio contains two all-age communities with a total of 669 developed homesites and has approvals to develop 270 more sites; weighted-average occupancy rate for the portfolio is 91%.
- "This acquisition further strengthens our portfolio of manufactured home communities in the Indiana market," says UMH President and CEO Samuel A. Landy. "Indiana has been one of our best performing regions."
- Source: Press Release
- Previously: UMH Properties FFO in-line, beats on total income (May 9)