UMH Properties, Inc. Announces New Revolving Line of Credit
2008年4月30日 - 6:09AM
PRニュース・ワイアー (英語)
FREEHOLD, N.J., April 29 /PRNewswire-FirstCall/ -- UMH Properties,
Inc. (AMEX:UMH) announced that on April 28, 2008, it has closed on
a revolving line of credit with Sun National Bank with a maximum
availability of $10,000,000. This revolving line of credit has a
maturity date of April 1, 2011 and is secured by the Company's
eligible notes receivables. Interest under this new line is at the
prime rate which is currently 5.25%. Samuel A. Landy, President,
stated, "We are very pleased with this new line of credit and
believe that it is the beginning of a long and mutually beneficial
relationship with Sun National Bank. This new financing gives us
additional flexibility in servicing our customers." UMH Properties,
Inc., a publicly-owned real estate investment trust, owns and
operates twenty-eight manufactured home communities located in New
Jersey, New York, Pennsylvania, Ohio and Tennessee. In addition,
the Company owns a portfolio of REIT securities. DATASOURCE: UMH
Properties, Inc. CONTACT: Rosemarie Faccone or Susan Jordan,
+1-732-577-9997, both of UMH Properties, Inc.
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