UMH PROPERTIES, INC. COMPLETES ACQUISITION OF TWO NEW JERSEY MANUFACTURED HOME COMMUNITIES
UMH Properties has acquired two age-restricted manufactured home communities in Mantua, New Jersey for $24.6 million. The properties, Cedar Grove Park and Maplewood Village, feature 266 developed homesites with 100% occupancy rate across approximately 38 acres.
The newly acquired communities are strategically located near Philadelphia and consist of modern, homeowner-occupied manufactured homes. The acquisition is expected to be accretive to earnings, with additional revenue potential through home sales brokerage.
Following this acquisition, UMH's portfolio now encompasses 141 manufactured home communities with approximately 26,500 developed homesites, including 10,300 rental homes and over 1,000 self-storage units across 12 states. Two communities in Florida, containing 363 sites, are operated through a joint venture with Nuveen Real Estate.
UMH Properties ha acquisito due comunità di case prefabbricate riservate agli over 55 a Mantua, New Jersey, per 24,6 milioni di dollari. Le proprietà, Cedar Grove Park e Maplewood Village, presentano 266 lotti sviluppati con un tasso di occupazione del 100% su circa 38 acri.
Le nuove comunità acquisite sono strategicamente situate vicino a Philadelphia e consistono in case prefabbricate moderne, occupate da proprietari. Si prevede che l'acquisizione sarà redditizia, con potenziale di entrate aggiuntive attraverso la mediazione di vendite di case.
Dopo questa acquisizione, il portafoglio di UMH comprende ora 141 comunità di case prefabbricate con circa 26.500 lotti sviluppati, inclusi 10.300 case in affitto e oltre 1.000 unità di self-storage in 12 stati. Due comunità in Florida, contenenti 363 lotti, sono gestite attraverso una joint venture con Nuveen Real Estate.
UMH Properties ha adquirido dos comunidades de casas prefabricadas restringidas por edad en Mantua, Nueva Jersey, por 24,6 millones de dólares. Las propiedades, Cedar Grove Park y Maplewood Village, cuentan con 266 lotes desarrollados con una tasa de ocupación del 100% en aproximadamente 38 acres.
Las comunidades recién adquiridas están estratégicamente ubicadas cerca de Filadelfia y consisten en casas prefabricadas modernas, ocupadas por propietarios. Se espera que la adquisición sea rentable, con un potencial adicional de ingresos a través de la corretaje de ventas de casas.
Después de esta adquisición, el portafolio de UMH ahora abarca 141 comunidades de casas prefabricadas con aproximadamente 26,500 lotes desarrollados, incluidos 10,300 casas de alquiler y más de 1,000 unidades de autoalmacenamiento en 12 estados. Dos comunidades en Florida, que contienen 363 sitios, son operadas a través de una empresa conjunta con Nuveen Real Estate.
UMH Properties는 뉴저지 만투아에 있는 두 개의 연령 제한이 있는 조립식 주택 커뮤니티를 2460만 달러에 인수했습니다. Cedar Grove Park와 Maplewood Village는 약 38에이커에 걸쳐 100% 점유율을 기록한 266개의 개발된 주택 부지를 갖추고 있습니다.
새로 인수한 커뮤니티는 필라델피아 근처에 전략적으로 위치하고 있으며, 현대적인 소유자 점유 조립식 주택으로 구성되어 있습니다. 이 인수는 수익을 증가시킬 것으로 예상되며, 주택 판매 중개를 통한 추가 수익 잠재력이 있습니다.
이 인수 이후, UMH의 포트폴리오는 현재 141개의 조립식 주택 커뮤니티와 약 26,500개의 개발된 주택 부지를 포함하고 있으며, 이 중 10,300개는 임대 주택이고 1,000개 이상의 셀프 스토리지 유닛이 12개 주에 걸쳐 있습니다. 플로리다의 두 커뮤니티는 363개의 부지를 포함하고 있으며, Nuveen Real Estate와의 합작 투자로 운영됩니다.
UMH Properties a acquis deux communautés de maisons préfabriquées réservées aux seniors à Mantua, New Jersey, pour 24,6 millions de dollars. Les propriétés, Cedar Grove Park et Maplewood Village, comptent 266 emplacements développés avec un taux d'occupation de 100% sur environ 38 acres.
Les nouvelles communautés acquises sont stratégiquement situées près de Philadelphie et se composent de maisons préfabriquées modernes occupées par des propriétaires. L'acquisition devrait être bénéfique pour les bénéfices, avec un potentiel de revenus supplémentaires grâce à la vente de maisons.
Suite à cette acquisition, le portefeuille d'UMH comprend désormais 141 communautés de maisons préfabriquées avec environ 26 500 emplacements développés, y compris 10 300 maisons locatives et plus de 1 000 unités de self-storage dans 12 États. Deux communautés en Floride, contenant 363 emplacements, sont gérées par le biais d'une coentreprise avec Nuveen Real Estate.
UMH Properties hat zwei altersbeschränkte Fertighausgemeinschaften in Mantua, New Jersey, für 24,6 Millionen Dollar erworben. Die Immobilien, Cedar Grove Park und Maplewood Village, verfügen über 266 entwickelte Bauplätze mit einer Belegungsrate von 100% auf etwa 38 Acres.
Die neu erworbenen Gemeinschaften befinden sich strategisch günstig in der Nähe von Philadelphia und bestehen aus modernen, von Eigentümern bewohnten Fertighäusern. Es wird erwartet, dass die Akquisition gewinnbringend ist, mit zusätzlichem Einnahmepotenzial durch den Verkauf von Immobilien.
Nach dieser Akquisition umfasst das Portfolio von UMH nun 141 Fertighausgemeinschaften mit etwa 26.500 entwickelten Bauplätzen, darunter 10.300 Mietwohnungen und über 1.000 Self-Storage-Einheiten in 12 Bundesstaaten. Zwei Gemeinschaften in Florida, die 363 Standorte umfassen, werden über ein Joint Venture mit Nuveen Real Estate betrieben.
- 100% occupancy rate in newly acquired properties
- Acquisition expected to be immediately accretive to earnings
- Additional revenue potential through home sales brokerage
- Strategic location near Philadelphia with strong sales demand
- None.
FREEHOLD, NJ, March 24, 2025 (GLOBE NEWSWIRE) -- UMH Properties, Inc. (NYSE: UMH; TASE: UMH) closed on the acquisition of two age-restricted manufactured home communities, located in Mantua, New Jersey, for a total purchase price of
Samuel A. Landy, President and Chief Executive Officer, commented, “We are pleased to complete the acquisition of Cedar Grove Park and Maplewood Village. These are two high-quality stabilized communities that contain all modern, homeowner occupied, manufactured homes. These communities are well-located near Philadelphia and experience strong demand for sales. This deal is expected to be accretive to earnings with additional upside through the brokerage of home sales. We continue to seek acquisitions that meet our growth criteria and anticipate additional acquisitions as we progress through the year.”
UMH Properties, Inc., which was organized in 1968, is a public equity REIT that owns and operates 141 manufactured home communities, containing approximately 26,500 developed homesites, of which 10,300 contain rental homes, and over 1,000 self-storage units. These communities are located in New Jersey, New York, Ohio, Pennsylvania, Tennessee, Indiana, Maryland, Michigan, Alabama, South Carolina, Florida and Georgia. Included in the 141 communities are two communities in Florida, containing 363 sites, that UMH has an ownership interest in and operates through its joint venture with Nuveen Real Estate.
| Contact: Nelli Madden |
| 732-577-9997 |
# # # #
FAQ
How much did UMH Properties pay for the two New Jersey manufactured home communities in March 2024?
What is the occupancy rate of UMH's newly acquired communities in Mantua?
How many manufactured home communities does UMH Properties own after the March 2024 acquisition?
What is the expected financial impact of UMH's Mantua communities acquisition?
