UMH Properties secures $10.2M Fannie Mae mortgage via Wells Fargo

UMH Properties, Inc. (NYSE: UMH) announced it secured a Fannie Mae mortgage for approximately $10.2 million on Aug. 28, 2026, through Wells Fargo Bank, N.A., for one of its manufactured home communities containing 267 sites.

The interest-only loan carries a fixed rate of 6.03% and has a 10-year term. The company had previously paid off an existing $2.8 million mortgage on the same community earlier this year, resulting in $7.4 million in additional net proceeds.

According to the company, the proceeds are intended to fund acquisitions, community expansions, rental homes, and repayment of higher-interest-rate debt on a short-term basis.

The community in question was acquired by UMH in 2014, when occupancy stood at 69%. The company states occupancy has since risen to 95%, and an expansion at the community is planned.

UMH Properties, organized in 1968, is a public equity REIT that owns and operates 145 manufactured home communities with approximately 27,100 developed home sites, of which 11,200 contain rental homes, and over 1,000 self-storage units. Its communities are located across New Jersey, New York, Ohio, Pennsylvania, Tennessee, Indiana, Maryland, Michigan, Alabama, South Carolina, Florida, and Georgia.

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