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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