MHProNews has learned that UMH Properties, Inc. has closed on two manufactured home communities (MHC) in western Pennsylvania for $5.3 million. The all-age communities have 324 homesites situated on 141 acres with an average occupancy of 63 percent. As streetinsider reports, this acquisition UMH now owns 91 MHCs with 15,500 homesites.

Samuel A. Landy, President, stated, “These communities further expand our position in the Marcellus and Utica Shale region. They are conveniently located within 15 miles of our Port Royal Village Sales Center. As home sales improve, our regional sales operation will be positioned to generate profitable sales at these newly acquired properties. In the meantime, we will upgrade these communities and implement our rental program to increase occupancy and generate additional revenue.” ##

(Photo credit: UMH Properties, Inc.)

Article submitted by Matthew J. Silver to Daily business News-MHProNews.