Mergers & Acquisitions
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UMH Properties Acquires Olmsted Falls Home Community For $3.6 Mln

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UMH Properties, Inc. (UMH: Quote) announced that it has acquired Olmsted Falls, a 125-site manufactured home community situated on about 14 acres, located in Olmsted Falls, Ohio, for a purchase price of $3.6 million.

UMH stated that with this purchase, the company now owns fifty-seven manufactured home communities consisting of over 10,600 developed homesites.

Samuel A. Landy, President, stated, "We are pleased to announce the acquisition of this community. UMH has a strong presence in this region and this acquisition will further enhance our strength here. We have now increased our portfolio by more than 50% over the previous three year period and anticipate continuing to acquire communities in 2013."

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by RTT Staff Writer

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