- UMH Properties expands rental portfolio to 10,600 homes with a 94.4% occupancy rate.
- Gross home sales revenue increased by 17% to $10.3 million year-over-year.
- Significant refinancing with Fannie Mae generated $101.4 million at a 5.855% interest rate.
UMH Properties, Inc. (UMH, Financial), a real estate investment trust (REIT) focused on manufactured home communities, reported robust operational results for the second quarter of 2025. The company has successfully expanded its rental portfolio by converting 188 new homes to rental properties, achieving a high occupancy rate of 94.4% across 10,600 rental homes. Additionally, same-property occupancy increased significantly to 88.2%, adding 251 units year-over-year.
Key financial highlights in Q2 2025 include a 17% increase in gross home sales revenue, reaching $10.3 million compared to the previous year's $8.8 million. Rental and related charges saw an 8.5% growth, totaling $55.9 million from $51.5 million in the prior year period. Notably, same-property rental income surged by 9.2% over July 2024, contributing to a 10.4% rise in total charges.
UMH's strategic refinancing of ten communities with Fannie Mae resulted in $101.4 million in proceeds at a fixed interest rate of 5.855%. The certified appraisal valued these communities at $163.5 million, marking a 146% appreciation over the initial cost basis of $66.6 million. This refinancing campaign generated $56 million in proceeds above outstanding principal balances, positioning UMH for future growth investments.
The company's capital-raising efforts also included issuing 1.8 million shares of Common Stock through its At-the-Market sale program, generating $31 million in gross proceeds at a weighted average price of $17.60 per share. UMH remains committed to achieving its 2025 goal of 800 new rental homes, with over 500 homes currently in various stages of setup across their portfolio.
