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UMH Properties Pays $32.5 Million for Manufactured Housing Communities

Sun Communities Sells 3 Communities in Ohio and Michigan
August 24, 2015
UMH Properties Inc., a New Jersey-based REIT, acquired three manufactured housing communities in Middletown, OH; Lewis Center, OH; and Owosso, MI, from Sun Communities Inc. for $34.5 million, or about $70,000 per room.

The three communities are comprised of 897 developed home sites on 177 acres. At the time of closing, the communities were 69% occupied.

Please see CoStar COMPS # 3369721 for more information.

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