debtconfidence high
UMH amends and extends credit facility to $260M with $340M accordion; maturity to 2030
UMH PROPERTIES, INC.
- Facility increased to $260M available; $340M accordion feature brings potential to $600M with additional lenders.
- Maturity extended from Nov 7, 2026 to May 7, 2030, with a one-year extension option.
- Interest spread reduced by 35-40 bps to SOFR+1.30%-1.90% depending on leverage ratio.
- Unencumbered community capitalization rate decreased from 6.5% to 6.0%, increasing borrowing base.
- As of May 8, 2026, $10M drawn and $250M available under the amended facility.
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