UMH Properties, Nuveen JV buys newly developed community in Florida

UMH Properties, through a joint venture with Nuveen Real Estate, has acquired manufactured housing community in Sebring, Fla., for $15.1 million.

This community contains 144 developed homesites. It is situated on approximately 20 acres.

“We are happy to announce the acquisition of Rum Runner, our second newly developed manufactured housing community through our joint venture with Nuveen Real Estate,” said Samuel A. Landy, president and CEO. “This is a high-quality community, located in Sebring, with a clubhouse, fitness center, dog park, bocce ball, shuffleboard, pickleball, pool and more. We are pleased with our performance at Sebring Square and anticipate strong demand at this location as well. We continue to make progress building a high-quality portfolio of newly developed manufactured housing communities through our joint venture. Nuveen Real Estate has been an excellent partner, and we look forward to growing this partnership.”