UMH Properties, Nuveen Real Estate Secure $15M Manufactured Housing Community in Sebring
A joint venture between Freehold, NJ-based UMH Properties, Inc. and Nuveen Real Estate has acquired Rum Runner, a newly developed all-age, manufactured home community located in Sebring, FL, for $15.1 million.
Rum Runner contains 144 developed homesites and is situated on approximately 20 acres with clubhouse, fitness center, dog park, bocce ball, shuffleboard, pickleball and pool.
The transaction marks the second manufactured housing community purchased in Sebring by the partnership between UMH Properties Inc., a public equity real estate investment trust, and Nuveen Real Estate.
“We are pleased with our performance at Sebring Square and anticipate strong demand at this location as well,” said Samuel Landy, president and CEO of UMH Properties, Inc. “We continue to make progress building a high-quality portfolio of newly developed manufactured housing communities through our joint venture.”
UMH Properties, Inc. owns and operates 134 manufactured home communities with approximately 25,600 developed homesites in AL, IN, MD, MI, NJ, NY, OH, PN, SC and TN.
- ◦Sale/Acquisition