November 2, 2010 (FinancialWire) (Go to http://www.financialwire.net/?s=ftrdnwswnd for all of today’s featured news.) — UMH Properties, Inc. (AMEX: UMH) said that it has entered into a definitive agreement to acquire five manufactured home communities located in Pennsylvania.

UMH said it will pay around $25 million.  The transaction is scheduled to be completed during the fourth quarter of 2010.

According to UMH, the five all-age communities total 824 sites situated on 215 acres. It said that the average occupancy for these communities is approximately 86%.

New Jersey-based UMH Properties is a real estate investment that trust owns and operates thirty manufactured home communities with 7,200 total home sites located in New Jersey, New York, Pennsylvania, Ohio and Tennessee.  In addition, the company owns a portfolio of REIT securities.

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