Loan & DebtMay 11, 2026, 09:06 AM
UMH Properties Amends, Extends $260M Credit Facility to 2030
AI Summary
UMH Properties, Inc. has amended and extended its unsecured revolving credit facility, increasing available borrowings to $260 million with a potential total of $600 million via an accordion feature. The maturity date has been extended from November 2026 to May 2030, with an option for a further one-year extension. The amendment also includes a reduction in interest rates by 35 to 40 basis points and an improved capitalization rate for unencumbered assets, enhancing the company's liquidity and financial flexibility.
Key Highlights
- UMH Properties amended and extended its unsecured revolving credit facility to $260 million.
- The facility includes a $340 million accordion feature, increasing total potential availability to $600 million.
- Maturity date extended from November 7, 2026, to May 7, 2030, with a one-year extension option.
- Interest rates reduced by approximately 35 to 40 basis points, now SOFR plus 1.30%-1.90%.
- Capitalization rate for unencumbered communities reduced from 6.5% to 6.0%.
- As of May 8, 2026, $10 million was outstanding, with $250 million available.
- The facility is syndicated with BMO, JPMorgan Chase Bank, N.A., and Wells Fargo Bank, N.A.
Price Impact
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