Yale Law School’s 2014 recipient of the Simeon Baldwin award has been conferred upon Eugene Landy, founder and chairman of UMH Properties, Inc. (NYSE:UMH) and Monmouth Real Estate Investment Corp. (NYSE:MNR). The award recognizes achievement in law and business. Describing Landy as “one of the pioneers and founders of the real estate investment trust (REIT) industry,” Roberta Romano, director of the Yale Law School Center for the Study of Corporate Law, says the 1958 graduate of of Yale Law School “early on recognized how the REIT creates value by turning illiquid assets into liquid ones, facilitating homeowners’ and entrepreneurs’ property acquisitions.” According to reit.com, Landy, describing the economic concept as simple, said, “Creating new pools of real estate capital would reduce the cost of offices, apartments, factories, stores and industrial buildings. A new investment vehicle would create wealth and it has. Today, REITs are worldwide in acceptance.” MHProNews knows UMH owns and operates 82 manufactured housing communities (MHCs) comprised of 14,500 developed sites, as well as a portfolio of REIT securities.
