FREEHOLD, N.J., Jan. 12, 2012 /PRNewswire/ -- UMH
Properties, Inc. (NYSE Amex: UMH) announced today that it has
closed on the acquisition of Countryside Estates, a 90-site
manufactured home community situated on approximately 64 acres,
located in Muncie, Indiana, for a
purchase price of $2,100,000.
With this purchase, UMH now owns forty-one manufactured home
communities consisting of approximately 9,009 sites.
Samuel A. Landy, President,
stated, "We are pleased to announce the acquisition of Countryside
Estates. This community was originally licensed for over 200
sites and is being built in phases. Upon completion, it will
ultimately be approximately 200-210 sites. This marks UMH's
first acquisition in the State of Indiana. This high quality
community is an excellent fit to our expanding portfolio."
UMH Properties, Inc., a publicly owned REIT, owns and operates
forty-one manufactured home communities with 9,009 total home sites
located in Indiana, New Jersey, New
York, Ohio, Pennsylvania, and Tennessee. In
addition, the Company owns a portfolio of REIT securities.
SOURCE UMH Properties, Inc.