UMH Properties Secures $10.2M Fannie Mae Mortgage for Community Expansion
Event summary
- UMH Properties secured a $10.2M Fannie Mae mortgage on August 28, 2026, through Wells Fargo Bank, N.A., with a 6.03% fixed rate and 10-year term.
- The loan refinances a previously paid-off $2.8M mortgage, generating $7.4M in additional proceeds.
- Proceeds will fund acquisitions, expansions, rental homes, and repay higher-interest debt.
- The refinanced community saw occupancy rise from 69% to 95% since acquisition in 2014.
The big picture
UMH Properties' refinancing highlights its strategy of acquiring underperforming communities, improving occupancy through renovations and rental programs, and unlocking value through debt restructuring. The deal underscores the role of Fannie Mae and Wells Fargo in supporting affordable housing investments, particularly in manufactured home communities. With 145 communities across 12 states, UMH's ability to execute this model could influence broader trends in real estate investment trusts (REITs) focused on manufactured housing.
What we're watching
- Capital Deployment
- How UMH will allocate the $10.2M in proceeds across acquisitions, expansions, and debt repayment.
- Occupancy Growth
- Whether UMH can sustain high occupancy rates in other communities through similar value-add strategies.
- Market Expansion
- The pace at which UMH can scale its rental home program across its 145 communities.
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