{"id":411416,"date":"2021-01-08T18:00:12","date_gmt":"2021-01-08T23:00:12","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=411416"},"modified":"2021-01-08T18:00:12","modified_gmt":"2021-01-08T23:00:12","slug":"umh-properties-inc-completes-acquisition-of-alabama-manufactured-home-community","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/umh-properties-inc-completes-acquisition-of-alabama-manufactured-home-community\/","title":{"rendered":"UMH PROPERTIES, INC. COMPLETES ACQUISITION OF ALABAMA MANUFACTURED HOME COMMUNITY"},"content":{"rendered":"<div class=\"mw_release\">\n<p align=\"justify\">\n        <strong>FREEHOLD, NJ, Jan.  08, 2021  (GLOBE NEWSWIRE) &#8212; <\/strong>UMH Properties, Inc. (NYSE: UMH) announced that it closed on the acquisition of a manufactured home community located in Dothan, Alabama for a total purchase price of approximately $4.6 million. This community contains 195 developed homesites, of which approximately 37% are occupied. It is situated on approximately 33 acres.\u00a0<\/p>\n<p align=\"justify\">Samuel A. Landy, President and Chief Executive Officer, commented, \u201cUMH has performed exceptionally well during one of the most difficult economic cycles our country has ever experienced. Our rent collections have remained at or near pre-pandemic levels all year and demand for rentals and sales has been strong. This strong performance has given us the confidence to take our proven business plan and implement it in new markets.\u201d<\/p>\n<p align=\"justify\">\u201cWe are pleased to announce the acquisition of our first community in Alabama. Deer Run is well-located in Dothan. Dothan has similar demographics to many of the markets where we operate in the Northeast and Midwest. We plan on implementing our turnaround strategy and quickly infilling the community with rental homes which should result in a significant increase in value.\u201d<\/p>\n<p align=\"justify\">UMH Properties, Inc., which was organized in 1968, is a public equity REIT that owns and operates 125 manufactured home communities with approximately 23,600 developed homesites. These communities are located in New Jersey, New York, Ohio, Pennsylvania, Tennessee, Indiana, Maryland, Michigan and Alabama. In addition, the Company owns a portfolio of REIT securities.<\/p>\n<table style=\"border-collapse: collapse;width:100%;border-collapse:collapse\">\n<tr>\n<td style=\"vertical-align: top\">\n            <strong>Contact: Nelli Madden<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: top\">\n            <strong>732-577-9997<\/strong>\n          <\/td>\n<\/tr>\n<\/table>\n<p align=\"center\"># # # #<\/p>\n<p \/>\n      <img loading=\"lazy\" decoding=\"async\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODEyMzA2NCMzOTExMjg1IzUwMDA2NjQyNg==\" width=\"1\" height=\"1\" \/><br \/>\n      <br \/>\n      <img loading=\"lazy\" decoding=\"async\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/ml.globenewswire.com\/release\/track\/376e9d6d-7e25-44da-a99b-326646e8d785\" width=\"1\" height=\"1\" \/>\n    <\/div>\n<div class=\"mw_contactinfo\"><\/div>\n","protected":false},"excerpt":{"rendered":"<p>FREEHOLD, NJ, Jan. 08, 2021 (GLOBE NEWSWIRE) &#8212; UMH Properties, Inc. (NYSE: UMH) announced that it closed on the acquisition of a manufactured home community located in Dothan, Alabama for a total purchase price of approximately $4.6 million. This community contains 195 developed homesites, of which approximately 37% are occupied. It is situated on approximately 33 acres.\u00a0 Samuel A. Landy, President and Chief Executive Officer, commented, \u201cUMH has performed exceptionally well during one of the most difficult economic cycles our country has ever experienced. Our rent collections have remained at or near pre-pandemic levels all year and demand for rentals and sales has been strong. This strong performance has given us the confidence to take our proven business plan and &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/umh-properties-inc-completes-acquisition-of-alabama-manufactured-home-community\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;UMH PROPERTIES, INC. COMPLETES ACQUISITION OF ALABAMA MANUFACTURED HOME COMMUNITY&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-411416","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>UMH PROPERTIES, INC. COMPLETES ACQUISITION OF ALABAMA MANUFACTURED HOME COMMUNITY - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/umh-properties-inc-completes-acquisition-of-alabama-manufactured-home-community\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"UMH PROPERTIES, INC. COMPLETES ACQUISITION OF ALABAMA MANUFACTURED HOME COMMUNITY - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"FREEHOLD, NJ, Jan. 08, 2021 (GLOBE NEWSWIRE) &#8212; UMH Properties, Inc. (NYSE: UMH) announced that it closed on the acquisition of a manufactured home community located in Dothan, Alabama for a total purchase price of approximately $4.6 million. This community contains 195 developed homesites, of which approximately 37% are occupied. It is situated on approximately 33 acres.\u00a0 Samuel A. Landy, President and Chief Executive Officer, commented, \u201cUMH has performed exceptionally well during one of the most difficult economic cycles our country has ever experienced. Our rent collections have remained at or near pre-pandemic levels all year and demand for rentals and sales has been strong. This strong performance has given us the confidence to take our proven business plan and &hellip; Continue reading &quot;UMH PROPERTIES, INC. COMPLETES ACQUISITION OF ALABAMA MANUFACTURED HOME COMMUNITY&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/umh-properties-inc-completes-acquisition-of-alabama-manufactured-home-community\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2021-01-08T23:00:12+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODEyMzA2NCMzOTExMjg1IzUwMDA2NjQyNg==\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/umh-properties-inc-completes-acquisition-of-alabama-manufactured-home-community\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/umh-properties-inc-completes-acquisition-of-alabama-manufactured-home-community\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"UMH PROPERTIES, INC. 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