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): January 20, 2017
UMH Properties, Inc.
(Exact name of registrant as specified in its charter)
| Maryland | 001-12690 | 22-1890929 | ||
| (State or other jurisdiction | (Commission | (IRS Employer | ||
| of incorporation) | File Number) | 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 January 20, 2017 the Company issued a press release announcing the acquisition of two manufactured home communities located in Ohio, situated on approximately 149 acres, for a purchase price of $9,588,000.
Item 9.01 Financial Statements and Exhibits.
| (d) | Exhibits. |
| 99 | Press Release dated January 20, 2017. |
| 2 |
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: January 20, 2017 | By: | /s/ Anna T. Chew |
| Name: | Anna T. Chew | |
| Title: | Vice President and Chief Financial Officer | |
| 3 |
| FOR IMMEDIATE RELEASE | January 20, 2017 |
| Contact: Nelli Madden | |
| 732-577-9997 |
UMH PROPERTIES COMPLETES ACQUISITION OF TWO OHIO COMMUNITIES
FREEHOLD, NJ, January 20, 2017........ UMH Properties, Inc. (NYSE: UMH) announced that it closed on the acquisition of two communities located in Ohio for a total purchase price of $9,588,000. These all-age communities contain 532 developed homesites situated on approximately 149 acres. The weighted-average occupancy rate for these communities is approximately 57%. Today’s purchase marks our final two acquisitions of this five-community portfolio located in Ohio with a total purchase price of $16,865,000. The portfolio contains a total of 821 sites situated on approximately 320 acres. The total purchase price and acreage have been reduced slightly as a result of several price reductions obtained throughout the course of these acquisitions.
Samuel A. Landy, President and Chief Executive Officer, commented, “UMH is very happy to announce the completion of the acquisition of this five-community portfolio located in Ohio. We continue to acquire communities in geographic locations where we expect to see above average economic growth. We are beginning to see an increase in demand in this region. These communities should see an increase in occupancy and revenue as a result of our sales and rental programs. 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 three manufactured home communities with approximately 18,600 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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