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UMH Properties Completes $12.2M Acquisition of Mobile Home Portfolio

DiCesare Investment Group Divests Four Communities in Western PA
July 30, 2014
UMH Properties, Inc. has acquired four mobile home parks on more than 403 acres located around Pittsburgh, PA from DiCesare Investment Group, Inc. for $12.2 million, averaging more than $36,000 per home site.

Included in the sale was:
  • Independence Park at 345-355 Rte 30 in Clinton
    - 93 Sites on 242 Acres;
  • Rostraver Estates at 1198 Rostraver Rd. in Belle Vernon
    - 71 Sites on 84 Acres;
  • Hillside Estates at 1033 Marguerite Lake Rd. in Greensburg
    - 89 Sites on 48.2 Acres;
  • Valley High Mobile Home Community at 303 Hillcrest Ln. in Ruffs Dale
    - 83 Sites on 28.98 Acres.

There were no brokers involved in the direct sale.

Please refer to CoStar COMPS #3076548 for more information on this transaction.

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