8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): August 20, 2020

UMH Properties, Inc.

(Exact name of registrant as specified in its charter)

Maryland	001-12690	22-1890929
(State or other jurisdiction	(Commission	(IRS Employer
of incorporation)	File Number)	Identification No.)

Juniper Business Plaza, 3499 Route 9 North, Suite 3-C, Freehold, NJ	07728
(Address of principal executive offices)	(Zip Code)

Registrant’s telephone number, including area code: (732) 577-9997

Not Applicable

(Former name or former address, if changed since last report.)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

☐	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐	Soliciting material pursuant to Rule 14a- 12 under the Exchange Act (17 CFR 240.14a-12)
☐	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class	Trading Symbol(s)	Name of exchange on which registered
Common Stock, $.10 par value	UMH	New York Stock Exchange
8.0% Series B Cumulative Redeemable Preferred Stock, $.10 par value	UMH PRB	New York Stock Exchange
6.75% Series C Cumulative Redeemable Preferred Stock, $.10 par value	UMH PRC	New York Stock Exchange
6.375% Series D Cumulative Redeemable Preferred Stock, $.10 par value	UMH PRD	New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 7.01 Regulation FD Disclosure.

On August 20, 2020, the Company issued a press release announcing that it has completed the financing of 28 of its unencumbered communities through Wells Fargo Bank, N.A for total proceeds of approximately $106 million, with a fixed interest rate of 2.62%.

Item 9.01 Financial Statements and Exhibits.

(d)	Exhibits.
99	Press Release dated August 20, 2020.

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SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	UMH Properties, Inc.
Date: August 21, 2020	By:	/s/ Anna T. Chew
	Name:	Anna T. Chew
	Title:	Vice President and
		Chief Financial Officer

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EX-99

Exhibit 99

FOR IMMEDIATE RELEASE	August 20, 2020
	Contact:	Nelli Madden
		732-577-9997

UMH PROPERTIES, INC. ANNOUNCES NEW CREDIT FACILITY

FREEHOLD, NJ, August 20, 2020........ UMH Properties, Inc. (NYSE: UMH) today announced that it has successfully completed the financing of 28 of its unencumbered communities, containing approximately 4,100 sites, through Wells Fargo Bank, N. A. for total proceeds of approximately $106 million. This Federal National Mortgage Association (Fannie Mae) credit facility has a 10-year maturity with a 30-year amortization schedule. Interest is at a fixed rate of 2.62%. The proceeds will be used to redeem our 8% Series B Perpetual Preferred Stock and to also invest in additional acquisitions, expansions and rental homes further enhancing our ability to provide quality affordable housing in the markets that we serve.

Samuel A. Landy, President and Chief Executive Officer commented, “We are very pleased to continue our strong relationship with Fannie Mae and Wells Fargo who have done an exceptional job of providing low cost debt that will allow us to continue on our mission of providing quality affordable housing. We will have the ability to borrow up as we generate increased occupancy and NOI. The acceptance of rental homes and the access to debt through Fannie Mae is a major transformative milestone for our industry.”

“This credit facility will allow us to call our 8% Series B Perpetual Preferred Stock which is expected to improve our funds from operations by over $5 million per year. We intend to further restructure our capital stack and reduce our cost of capital by recapitalizing our other outstanding preferred issues which are callable in 2022 and 2023.”

UMH Properties, Inc., which was organized in 1968, is a public equity REIT that owns and operates 123 manufactured home communities with approximately 23,200 developed homesites. These communities are located in New Jersey, New York, Ohio, Pennsylvania, Tennessee, Indiana, Michigan and Maryland.

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XML

Cover	Aug. 20, 2020
Schedule of Capitalization, Equity [Line Items]
Document Type	8-K
Amendment Flag	false
Document Period End Date	Aug. 20, 2020
Entity File Number	001-12690
Entity Registrant Name	UMH Properties, Inc.
Entity Central Index Key	0000752642
Entity Tax Identification Number	22-1890929
Entity Incorporation, State or Country Code	MD
Entity Address, Address Line One	Juniper Business Plaza
Entity Address, Address Line Two	3499 Route 9 North
Entity Address, Address Line Three	Suite 3-C
Entity Address, City or Town	Freehold
Entity Address, State or Province	NJ
Entity Address, Postal Zip Code	07728
City Area Code	(732)
Local Phone Number	577-9997
Written Communications	false
Soliciting Material	false
Pre-commencement Tender Offer	false
Pre-commencement Issuer Tender Offer	false
Entity Emerging Growth Company	false
Entity Information, Former Legal or Registered Name	Not Applicable
Common Stock, $.10 par value
Schedule of Capitalization, Equity [Line Items]
Title of 12(b) Security	Common Stock, $.10 par value
Trading Symbol	UMH
Security Exchange Name	NYSE
8.0% Series B Cumulative Redeemable Preferred Stock, $.10 par value
Schedule of Capitalization, Equity [Line Items]
Title of 12(b) Security	8.0% Series B Cumulative Redeemable Preferred Stock, $.10 par value
Trading Symbol	UMH PRB
Security Exchange Name	NYSE
6.75% Series C Cumulative Redeemable Preferred Stock, $.10 par value
Schedule of Capitalization, Equity [Line Items]
Title of 12(b) Security	6.75% Series C Cumulative Redeemable Preferred Stock, $.10 par value
Trading Symbol	UMH PRC
Security Exchange Name	NYSE
6.375% Series D Cumulative Redeemable Preferred Stock, $.10 par value
Schedule of Capitalization, Equity [Line Items]
Title of 12(b) Security	6.375% Series D Cumulative Redeemable Preferred Stock, $.10 par value
Trading Symbol	UMH PRD
Security Exchange Name	NYSE