FREEHOLD, NJ, March 15, 2022 (GLOBE NEWSWIRE) -- UMH Properties, Inc. (NYSE: UMH) today announced that it has successfully completed the addition of approximately 1,100 homes to our Fannie Mae credit facility, through Wells Fargo Bank, N. A., for total proceeds of approximately $25.6 million. This addition is coterminous with the remaining term of our existing facility, which matures in 2030. Interest is at a fixed rate of 4.25%. The proceeds will be used to invest in additional acquisitions, expansions and rental homes further enhancing our ability to increase shareholder value and provide quality affordable housing in the markets that we serve.
UMH PROPERTIES, INC. ANNOUNCES RENTAL HOME ADDITION TO FANNIE MAE CREDIT FACILITY
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