UMH Properties, Inc. Acquires 11 Manufactured Home Communities

FREEHOLD, N.J., Aug. 2, 2012/PRNewswire/ -- UMH Properties, Inc. (NYSE: UMH) announced that, on August 1, 2012, it closed on the acquisition of 11 manufactured home communities, ten located in Pennsylvaniaand one located in New York. The total purchase price was $28,250,000. With this closing, UMH owns 53 communities consisting of approximately 10,100 developed homesites.

These 11 all-age family communities total 968 sites situated on 200 acres. The average occupancy for these communities is approximately 92%.

Samuel A. Landy, President, stated, "We are very pleased to announce the closing of this significant acquisition. These communities are an excellent fit to our existing portfolio. Pennsylvania is a state that has enjoyed a stable economy over the long term and is poised for above average growth in the future."

UMH, a publicly-owned REIT, owns and operates fifty-three manufactured home communities with approximately 10,100 developed homesites located in New Jersey, New York, Pennsylvania, Ohio, Tennesseeand Indiana. In addition, the Company owns a portfolio of REIT securities.

SOURCE UMH Properties, Inc.