UMH - UMH Properties acquires manufactured home community in Georgia for $3.65M

• UMH Properties ( NYSE: UMH ) said Thursday it acquired a manufactured home community in Albany, Georgia, for $3.65M through its qualified opportunity zone fund.
• The acquisition of the community, which contains 118 developed homesites, expands UMH's ( UMH ) footprint in the Southeast.
• "This is our second community acquired through our qualified opportunity zone fund. UMH will earn fees to manage the community and will have the first right to purchase the community upon divestiture by the fund," said CEO Samuel Landy.
• "Several major corporations located nearby have made or plan to make significant new capital investments to their facilities. We plan to implement our rental home program in our community, which should result in rapid infill and strong returns," he added.
• Earlier, UMH ( UMH ) acquired a manufactured home community in Florida for $15.1M .

For further details see: