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UMH Properties Expands Self-Storage Footprint with Acquisition

UMH Properties Expands Self-Storage Footprint with Acquisition

UMH Properties Expands Self-Storage Footprint

UMH Properties, Inc. (NYSE: UMH) has reached a significant milestone by surpassing 1,000 self-storage units in its portfolio. This expansion reflects the company's commitment to providing enhanced living experiences and services to its communities.

Recent Acquisition Details

On November 1, 2024, UMH Properties completed the acquisition of a self-storage facility adjoining one of its communities in Anderson, Indiana. This new facility boasts 246 self-storage units, reinforcing the company's strategy to integrate storage solutions with its residential offerings.

Enhanced Customer Service

Samuel A. Landy, President and CEO of UMH, expressed pride in this achievement, stating that the proximity of self-storage facilities allows their dedicated staff to better serve residents and meet the storage needs of the surrounding areas. This synergy benefits residents, investors, and local communities alike.

A Brief History of UMH Properties

Founded in 1968, UMH Properties, Inc. is a public equity Real Estate Investment Trust (REIT) that specializes in owning and operating manufactured home communities. Currently, the company operates 139 communities, with a total of approximately 26,200 developed homesites. Of these, 10,300 homes are available for rent, alongside their expanding portfolio of self-storage units.

Geographical Reach

UMH Properties has a diverse footprint, with communities spanning across several states including New Jersey, New York, Ohio, Pennsylvania, Tennessee, Indiana, Maryland, Michigan, Alabama, South Carolina, Florida, and Georgia. Notably, two of these communities are located in Florida, contributing to a total of 363 sites managed through a joint venture with Nuveen Real Estate.

Looking Ahead

This strategic growth into the self-storage market not only increases UMH's property value but also enhances customer convenience. With over 1,000 self-storage units now in operation, the company is well-positioned to continue meeting the evolving needs of its residents.

Company Contact Information

For further inquiries, Nelli Madden can be contacted at 732-577-9997.

Frequently Asked Questions

What is the significance of reaching 1,000 self-storage units?

Reaching over 1,000 self-storage units highlights UMH's growth and commitment to enhancing living experiences for its residents.

Where is the newly acquired self-storage facility located?

The newly acquired facility is located in Anderson, Indiana, adjacent to one of UMH's communities.

How does this expansion benefit UMH residents?

This expansion allows for better customer service as residents can access storage solutions close to their homes.

What states does UMH operate in?

UMH operates in New Jersey, New York, Ohio, Pennsylvania, Tennessee, Indiana, Maryland, Michigan, Alabama, South Carolina, Florida, and Georgia.

Who is the CEO of UMH Properties, Inc.?

Samuel A. Landy is the President and Chief Executive Officer of UMH Properties, Inc.

About The Author

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The content of this article is based on factual, publicly available information and does not represent legal, financial, or investment advice. Investors Hangout does not offer financial advice, and the author is not a licensed financial advisor. Consult a qualified advisor before making any financial or investment decisions based on this article. This article should not be considered advice to purchase, sell, or hold any securities or other investments. If any of the material provided here is inaccurate, please contact us for corrections.

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