Eugene W. Landy, Chairman of the Board of UMH Properties Inc. announced that, on September 23, 2013, Eugene Rothenberg retired from the Board of Directors. In order to fill the resulting vacancy, the Board of Directors appointed Mr. Matthew I. Hirsch as a Class II Director for the remaining term of Class II expiring in 2014. This appointment has been accepted, effective September 23, 2013.
Mr. Hirsch is considered an independent Director under the pertinent NYSE rules. Mr. Hirsch is an Attorney-at-Law in private practice in Wayne, Pennsylvania. He is an Adjunct Professor of Law at Widener University of Law.
Mr. Hirsch also serves on the Board of Directors of Monmouth Real Estate Investment Corporation, an affiliated company.
UMH Properties, Inc. is a real estate investment trust (REIT). The Companyâs primary business is the ownership and operation of manufactured home communities, leasing manufactured homesites to residents. The Company also leases manufactured homes to residents and, through its wholly owned taxable REIT subsidiary, UMH Sales and Finance, Inc. (S&F), sells and finances the sale of manufactured homes to residents and prospective residents of its communities and for placement on customersâ privately owned land. The Company owns and operates 135 manufactured home communities, including two communities acquired through the Companyâs opportunity zone fund, containing approximately 25,800 developed homesites. These communities are located in New Jersey, New York, Ohio, Pennsylvania, Tennessee, Indiana, Michigan, Maryland, Alabama, South Carolina and Georgia. In connection with the operation of its communities, the Company also leases homes to prospective tenants.