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.
For further details see:
UMH Properties enters into $25M term loan with FirstBank