UMH - UMH Properties enters into $25M term loan with FirstBank

2023-05-12 17:05:11 ET

• UMH Properties ( NYSE: UMH ) on Friday said it had entered into a $25M term loan with FirstBank.
• "The term loan has a 5-year term with a competitive fixed interest rate," UMH said in a statement .
• The company added that its previous line of credit had a balance of $15.1M which had been rolled into the new term loan.
• Additionally, UMH said it had entered into a new $25M line of credit secured by rental homes and their leases.
• "This new line of credit also has a 5-year term and has a variable rate tied to Prime," UMH said.

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