UMH PROPERTIES, INC. COMPLETES ACQUISITION OF TWO NEW JERSEY MANUFACTURED HOME COMMUNITIES

Core Insights - UMH Properties, Inc. has successfully acquired two age-restricted manufactured home communities in Mantua, New Jersey for a total of $24.6 million, which includes 266 developed homesites that are fully occupied [1][2] - The acquisition is expected to be accretive to earnings and offers additional upside through the brokerage of home sales, indicating strong demand in the area [2] Company Overview - UMH Properties, Inc. is a public equity REIT established in 1968, owning and operating 141 manufactured home communities with approximately 26,500 developed homesites, of which 10,300 are rental homes [2] - The company's properties are located across several states including New Jersey, New York, Ohio, Pennsylvania, Tennessee, Indiana, Maryland, Michigan, Alabama, South Carolina, Florida, and Georgia [2] - UMH also has a joint venture with Nuveen Real Estate, which includes two communities in Florida with 363 sites [2]