UMH Properties acquires two NJ manufactured home communities for $24.6M

UMH PROPERTIES, INC.

Purchase price $24.6M for two age-restricted communities in Mantua, New Jersey.
Communities have 266 developed homesites, 100% occupied, on ~38 acres.
Acquisition expected to be accretive to earnings with upside from home sales brokerage.
CEO indicates company continues to seek acquisitions meeting growth criteria.
UMH now owns/operates 141 communities with ~26,500 homesites.

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