UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): December 20, 2016
UMH Properties, Inc.
(Exact name of registrant as specified in its charter)
Maryland | 001-12690 | 22-1890929 | ||
(State
or other jurisdiction of incorporation) |
(Commission File Number) |
(IRS
Employer Identification No.) |
Juniper Business Plaza, 3499 Route 9 North, Suite 3-C, Freehold, NJ | 07728 | |
(Address of principal executive offices) | (Zip Code) |
Registrant’s telephone number, including area code: (732) 577-9997
Not Applicable
(Former name or former address, if changed since last report.)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
[ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
[ ] Soliciting material pursuant to Rule 14a- 12 under the Exchange Act (17 CFR 240.14a-12)
[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item 7.01 Regulation FD Disclosure.
On December 19, 2016 the Company issued a press release announcing the acquisition of one manufactured home community located in Ohio, situated on approximately 121 acres, for a purchase price of $4,323,000.
Item 9.01 Financial Statements and Exhibits.
(d) | Exhibits. |
99 | Press Release dated December 19, 2016. |
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
UMH Properties, Inc. | ||
Date: December 20, 2016 | By: | /s/ Anna T. Chew |
Name: | Anna T. Chew | |
Title: | Vice President and Chief Financial Officer |
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FOR IMMEDIATE RELEASE | December 19, 2016 |
Contact: Nelli Madden | |
732-577-9997 |
UMH PROPERTIES COMPLETES ACQUISITION OF OHIO COMMUNITY
FREEHOLD, NJ, December 19, 2016........ UMH Properties, Inc. (NYSE: UMH) announced that it closed on the acquisition of one community located in Ohio for a total purchase price of $4,323,000. This all-age community contains 124 developed homesites situated on approximately 121 acres. The occupancy rate for this community is approximately 82%. Today’s purchase marks our third acquisition of this five-community portfolio located in Ohio with a total purchase price of $17,020,000. The portfolio contains a total of 821 sites situated on approximately 337 acres. The acquisition of the remaining two communities is expected to close before yearend or shortly thereafter. The completion of the remaining two communities is subject to due diligence and other customary closing conditions and therefore there can be no assurance that this acquisition will take place during 2016 or at all.
Samuel A. Landy, President and Chief Executive Officer, commented, “UMH is pleased to continue to grow through acquisitions in areas where we believe there will be above average economic growth. We are beginning to see an increase in demand in the energy rich Marcellus and Utica shale regions. This community will fit nicely into our operating platform and should see occupancy and revenue growth in the near future. This community has substantial acreage for potential future expansion. UMH continues to seek acquisitions that fit our growth criteria.”
UMH Properties, Inc., which was organized in 1968, is a public equity REIT that owns and operates one hundred one manufactured home communities with approximately 18,100 developed homesites. These communities are located in New Jersey, New York, Ohio, Pennsylvania, Tennessee, Indiana, and Michigan. In addition, the Company owns a portfolio of REIT securities.
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