UMH Properties

UMH Properties, Inc.

Company type	Public
Industry	Real estate investment trust
Predecessor	United Mobile Homes Inc.
Founded	1968
Founder	Eugene W. Landy
Headquarters	United States
Area served	New Jersey, New York, Ohio, Pennsylvania, Tennessee, Indiana, Michigan, Maryland, Alabama, South Carolina, Georgia, Florida
Key people	Eugene W. Landy (Founder), Samuel A. Landy (CEO)
Products	Manufactured home communities

UMH Properties, Inc. (previously known as United Mobile Homes Inc.) is a publicly traded real estate investment trust (REIT) that owns and operates 135 manufactured home communities, encompassing roughly 25,700 developed lots across a dozen states. These states include New Jersey, New York, Ohio, Pennsylvania, Tennessee, Indiana, Michigan, Maryland, Alabama, South Carolina, Georgia, and Florida. Additionally, UMH oversees two Florida-based communities through a joint venture partnership with Nuveen Real Estate.

History

Established in 1968 by entrepreneur Eugene W. Landy, the company transitioned from United Mobile Homes, Inc. to UMH Properties in 2006.

UMH Properties has pursued a growth strategy primarily driven by acquisitions, notable transactions include:

• 2013: Purchased Holiday Mobile Village in Nashville, Tennessee for $7.25 million
• 2014: Acquired four communities in Pennsylvania for $12.2 million and ten in Ohio for $30.4 million
• 2015: Bought six properties from Sun Communities located in Ohio, Indiana, and Michigan for $68.6 million along with six additional Pennsylvania communities for $12.6 million
• 2016: Added three Ohio communities for $7.3 million
• 2017: Expanded with six Pennsylvania communities for $25.3 million; two Indiana communities for $24.4 million; and one property in Maryland for $4 million
• 2018: Acquired three Indiana communities totaling $24 million and three Ohio communities valued at $35.1 million
• 2019: Purchased one Ohio community for $19.4 million; two Pennsylvania communities for $11.7 million; and one Michigan community for $25.2 million
• 2020: Added one Pennsylvania community for $3.34 million and one in New York for $4.5 million
• 2021: Expanded into Alabama ($4.6M), South Carolina ($3.4M), Ohio ($10.3M), and Florida ($22.2M through joint venture with Nuveen Real Estate)
• 2022: Completed multiple acquisitions including Pennsylvania ($5.8M and $7.4M), Alabama ($3.9M), Michigan ($39M), South Carolina ($5.2M), Ohio ($19.1M), New Jersey ($23M), and Florida ($15.1M via joint venture)
• 2023: Acquired a Georgia community for $3.65 million utilizing a qualified opportunity zone fund

This acquisition-centric approach has been instrumental in UMH’s growth within the manufactured housing sector, strengthening its market position and financial outcomes under the guidance of founder Eugene W. Landy and CEO Samuel A. Landy.