Freehold, New Jersey-based UMH Properties, Inc. has closed on the acquisition of four manufactured home communities (MHCS) in the Pittsburgh area for $12,200,000, according to PRWeb.com. These all-age communities contain a total of 336 developed homesites situated on a total of 239 acres. Average occupancy for these MHCs is 84 percent. President Samuel A. Landy says,“These communities are in areas where we expect economic growth due to Marcellus and Utica Shale related industries,” referring to the oil and gas exploration going on in western Pennsylvania. As MHProNews knows, UMH is a publicly-owned real estate investment trust (REIT) that owns and operates 86 communities with 14,800 developed homesites. ##

(Photo credit: UMH Properties, Inc.)