UMH obtained an $8,851,000 mortgage with Freddie Mac at an interest rate of 3.96% and a ten-year maturity. UMH President and CEO Samuel A. Landy stated “These three, all-age communities are located in improving markets in Indiana. We have performed very well at our existing communities in these markets. These communities all have tremendous upside potential that we intend to realize by implementing aggressive rental, sales and marketing programs.”
UMH is a public equity real estate investment trust (REIT) that owns and operates 98 MHCs in seven states east of the Mississippi comprised of 17,800 developed homesites. The company also owns a portfolio of REITs. ##
(Image credit: UMH Properties, Inc.)
