UMH Properties

Last updated
UMH Properties, Inc.
Company type Public company
NYSE:  UMH
Russell 2000 Index Component
Founded1968;56 years ago (1968)
FounderEugene W. Landy
Headquarters Freehold Township, New Jersey
Key people
 Eugene W. Landy, Chairman
Samuel A. Landy, President & CEO
Anna T. Chew, CFO
RevenueIncrease2.svg $186.1 million (2021)
Increase2.svg $51.1 million (2021)
Total assets Increase2.svg $1.3 billion (2021)
Total equity Increase2.svg $742,000 (2021)
Number of employees
430 (2021)
Website www.umh.com
Footnotes /references
[1]

UMH Properties, Inc. (formerly United Mobile Homes Inc.) is a public equity real estate investment trust (REIT) that owns and operates a portfolio of 135 manufactured home communities with approximately 25,700 developed homesites. These communities are located in 12 states: New Jersey, New York, Ohio, Pennsylvania, Tennessee, Indiana, Michigan, Maryland, Alabama, South Carolina, Georgia, and Florida. UMH also owns and operates two communities in Florida through its joint venture with Nuveen Real Estate. [1]

Contents

History

The company was founded in 1968 by Eugene W. Landy. [2]

In 2006, the company changed its name from United Mobile Homes, Inc. to UMH Properties, Inc.

In 2013, the company acquired Holiday Mobile Village in Nashville, Tennessee for $7.25 million. [3]

In 2014, the company acquired 4 communities in Pennsylvania for $12.2 million [4] [5] and 10 communities in Ohio for $30.4 million [6]

In 2015, the company acquired 6 properties in Ohio, Indiana and Michigan from Sun Communities for $68.6 million and 6 communities in Pennsylvania for $12.6 million. [7]

In 2016, the company acquired 3 properties in Ohio for $7.3 million. [8]

In 2017, the company acquired 6 communities in Pennsylvania for $25.3million, [9] 2 2 communities in Indiana for $24.4 million [10] and a property in Maryland for $4 million. [11]

In 2018, the company acquired 3 communities in Indiana for $24 million, 3 communities in Ohio for $35.1 million.

In 2019, the company acquired 1 community in Ohio for $19.4 million, 2 communities in Pennsylvania for $11.7 million, 1 community in Michigan for $25.2 million.

In 2020, the company acquired 1 community in Pennsylvania for $3.34 million [12] and 1 community in New York for $4.5 million. [13]

In 2021, the company acquired 1 community in Alabama for $4.6 million, [14] 1 community in South Carolina for $3.4 million [15] and 1 community in Ohio for $10.3 million. [16] The company also acquired 1 community in Florida for $22.2 million through its joint venture with Nuveen Real Estate. [17]

In 2022, the company acquired 1 community in Pennsylvania for $5.8 million, [18] 1 community in Pennsylvania for $7.4 million, [19] 1 community in Alabama for $3.9 million, [20] 1 community in Michigan for $39 million, [21] 1 community in South Carolina for $5.2 million, [22] 1 community in Ohio for $19.1 million, [23] and 1 community in New Jersey for $23 million. [24] The company acquired 1 community in Florida for $15.1 million through its joint venture with Nuveen Real Estate. [25]

In 2023, the company acquired 1 community in Georgia for $3.65 million through its qualified opportunity zone fund. [26]


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References

  1. 1 2 "UMH Properties, Inc. 2019 Form 10-K Annual Report". U.S. Securities and Exchange Commission.
  2. ↑ "Eugene W. Landy '58 Honored for Years of Service and Leadership". Yale Law School . January 25, 2017.
  3. ↑ "UMH Properties, Inc. Announces New Acquisition" (Press release). PR Newswire. April 2, 2013.
  4. ↑ Strauss, Eric (July 16, 2014). "REIT purchases four Pa. home communities". NJBiz.
  5. ↑ Schooley, Tim (July 16, 2014). "UMH Properties Inc. buys 4 manufactured home communities in region". American City Business Journals .
  6. ↑ "UMH PROPERTIES ACQUIRES TWO MOBILE HOME PARKS IN OHIO FOR $5.4M". RE Business Online. July 30, 2014.
  7. ↑ "UMH Properties Acquires Three Manufactured Home Communities for $32.5 Million". Multifamily Biz. August 21, 2015.
  8. ↑ "UMH Properties, Inc. Completes Acquisition Of Two Ohio Communities" (Press release). PR Newswire. September 1, 2016.
  9. ↑ "UMH Properties Completes Acquisition Of Pennsylvania Community" (Press release). PR Newswire. January 24, 2017.
  10. ↑ "UMH Properties Completes Acquisition Of Two Ohio Communities" (Press release). PR Newswire. January 20, 2017.
  11. ↑ "UMH Properties Completes Acquisition Of Maryland Community" (Press release). PR Newswire. May 31, 2017.
  12. ↑ "UMH PROPERTIES, INC. COMPLETES ACQUISITION OF PENNSYLVANIA COMMUNITY". umh.reit. Retrieved 2021-06-04.
  13. ↑ "UMH PROPERTIES, INC. COMPLETES ACQUISITION OF NEW YORK MANUFACTURED HOUSING COMMUNITY". umh.reit. Retrieved 2021-06-04.
  14. ↑ "UMH PROPERTIES, INC. COMPLETES ACQUISITION OF ALABAMA MANUFACTURED HOME COMMUNITY". umh.reit. Retrieved 2021-06-04.
  15. ↑ "UMH PROPERTIES, INC. COMPLETES ACQUISITION OF SOUTH CAROLINA MANUFACTURED HOME COMMUNITY". umh.reit. Retrieved 2021-06-04.
  16. ↑ "UMH PROPERTIES, INC. COMPLETES ACQUISITION OF OHIO MANUFACTURED HOME COMMUNITY". umh.reit. Retrieved 2021-06-04.
  17. ↑ UMH PROPERTIES, INC. ENTERS FLORIDA MARKET
  18. ↑ "UMH PROPERTIES, INC. COMPLETES ACQUISITION OF PENNSYLVANIA MANUFACTURED HOME COMMUNITY".
  19. ↑ "UMH PROPERTIES, INC. COMPLETES ACQUISITION OF PENNSYLVANIA MANUFACTURED HOME COMMUNITY".
  20. ↑ "UMH PROPERTIES, INC. COMPLETES ACQUISITION OF ALABAMA MANUFACTURED HOME COMMUNITY".
  21. ↑ "UMH PROPERTIES, INC. COMPLETES ACQUISITION OF MICHIGAN MANUFACTURED HOME COMMUNITY".
  22. ↑ "UMH PROPERTIES, INC. ANNOUNCES ACQUISITION OF A SOUTH CAROLINA COMMUNITY THROUGH ITS NEWLY-FORMED QUALIFIED OPPORTUNITY ZONE FUND".
  23. ↑ "UMH PROPERTIES, INC. COMPLETES ACQUISITION OF OHIO MANUFACTURED HOME COMMUNITY".
  24. ↑ "UMH PROPERTIES, INC. COMPLETES ACQUISITION OF NEW JERSEY MANUFACTURED HOME COMMUNITY".
  25. ↑ "UMH PROPERTIES, INC. ACQUIRES NEWLY DEVELOPED COMMUNITY IN FLORIDA".
  26. ↑ "UMH PROPERTIES, INC. ANNOUNCES ACQUISITION OF A GEORGIA COMMUNITY THROUGH ITS QUALIFIED OPPORTUNITY ZONE FUND".

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