UMH Properties Adds $91.8 Million to Fannie Mae Credit Facility

Reuters12-03
<a href="https://laohu8.com/S/UMH">UMH Properties</a> Adds $91.8 Million to <a href="https://laohu8.com/S/FNMAG">Fannie Mae</a> Credit Facility

UMH Properties Inc. has announced the addition of seven manufactured home communities, totaling 1,765 sites, to its Fannie Mae credit facility through Wells Fargo Bank, N.A. The transaction resulted in approximately $91.8 million in proceeds from an interest-only loan at a fixed rate of 5.46% with a 9-year term. The funds will be used for additional acquisitions, community expansions, rental homes, and to repay higher-interest short-term debt. This refinancing is part of UMH's ongoing business strategy to increase property value and expand affordable housing offerings.

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