UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
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Item 7.01 Regulation FD Disclosure.
On May 3, 2022, the Company issued a press release announcing that it closed on an acquisition of one community in Pennsylvania.
The information being furnished pursuant to this Item 7.01, including Exhibits 99 to this report, shall not be deemed “filed” for any purpose, including for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of such section. The information in this report, including Exhibits 99, shall not be incorporated by reference into any filing under the Securities Act of 1933, as amended, or the Exchange Act, unless specifically incorporated by reference into any such filing. This report will not be deemed an admission as to the materiality of any information in this report that is required to be disclosed solely by Regulation FD.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
| 99 | Press Release dated May 3, 2022 | |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |
| 2 |
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| UMH Properties, Inc. | ||
| Date: May 4, 2022 | By: | /s/ Anna T. Chew |
| Name: | Anna T. Chew | |
Vice President and Chief Financial Officer | ||
| 3 |
Exhibit 99
| FOR IMMEDIATE RELEASE | May 3, 2022 |
| Contact: Nelli Madden | |
| 732-577-9997 |
UMH PROPERTIES, INC. COMPLETES ACQUISITION OF PENNSYLVANIA MANUFACTURED HOME COMMUNITY
FREEHOLD, NJ, May 3, 2022........ UMH Properties, Inc. (NYSE: UMH) closed on the acquisition of a manufactured home community located in Butler, Pennsylvania for a total purchase price of $7.4 million. This community contains 132 developed homesites. It is situated on approximately 65 acres. Additionally, there are 38 entitled sites for future development and 18 sites that are owned by residents who pay a common area maintenance fee.
Samuel A. Landy, President and Chief Executive Officer, commented, “We are pleased to announce the acquisition of Mandell Trails. This property is well-located near some of our best performing assets in western Pennsylvania. As we improve the community, we anticipate strong demand for profitable sales.
“We continue to opportunistically acquire communities that meet our growth criteria. Our acquisition pipeline contains two additional communities containing 490 sites for a total purchase price of approximately $25.9 million, or $52,800 per site. We also have an active pipeline of greenfield development deals through our joint venture. We have significant growth opportunities through acquisitions, greenfield development through our joint venture, expansions of our existing communities and infill of our vacant sites.”
UMH Properties, Inc., which was organized in 1968, is a public equity REIT that owns and operates 129 manufactured home communities with approximately 24,200 developed homesites. These communities are located in New Jersey, New York, Ohio, Pennsylvania, Tennessee, Indiana, Maryland, Michigan, Alabama and South Carolina. UMH also has an ownership interest in and operates one community in Florida, containing 219 sites, through its joint venture with Nuveen Real Estate.
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