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home / news releases / UMH - UMH Properties completes adding 2 tranches to Fannie Mae credit facility


UMH - UMH Properties completes adding 2 tranches to Fannie Mae credit facility

  • UMH Properties ( NYSE: UMH ) has completed the addition of two tranches to its Fannie Mae credit facility through Wells Fargo Bank for ~$34M.
  • The tranches, with an interest of 5.24%, have a loan term of 10 years.
  • One tranche consists of four communities and the other consists of ~250 homes located in those communities. The community tranche amortizes over 30 years and the home tranche amortizes over 17 years.
  • The company said the proceeds will be used to invest in additional acquisitions, expansions, rental homes and other general corporate purposes.
  • UMH shares were trading -0.93% pre-market.
  • Source: Press Release

For further details see:

UMH Properties completes adding 2 tranches to Fannie Mae credit facility
Stock Information

Company Name: UMH Properties Inc.
Stock Symbol: UMH
Market: NYSE
Website: umh.reit

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