UMH Properties amends, extends unsecured revolving credit facility to $260 million
UMH Properties, Inc.
UMH Properties, Inc. UMH | 0.00 |
- UMH Properties entered Third Amended and Restated Credit Agreement amending unsecured revolving credit facility syndicated by BMO, JPMorgan, Wells Fargo.
- Available borrowings set at USD 260 million, with USD 340 million accordion feature that could lift total potential availability to USD 600 million, subject to conditions.
- Maturity extended to May 7, 2030 from Nov. 7, 2026, with one-year extension option subject to conditions.
- Pricing cut about 35-40 basis points; interest now SOFR plus 1.30%-1.90% or BMO prime rate plus 0.30%-0.90%, based on overall leverage ratio.
- Borrowing base capped at 60% of value of pool of unencumbered communities, with valuation reflecting 6.0% capitalization rate applied to NOI, down from 6.5%.
Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. UMH Properties Inc. published the original content used to generate this news brief via EDGAR, the Electronic Data Gathering, Analysis, and Retrieval system operated by the U.S. Securities and Exchange Commission (Ref. ID: 0001493152-26-022153), on May 11, 2026, and is solely responsible for the information contained therein.
