Printer Friendly

UNITED MOBILE HOMES, INC. ANNOUNCES EXPANSION PLANS AND ELECTION TO OPERATE AS A REAL ESTATE INVESTMENT TRUST

 EATONTOWN, N.J., Dec. 1 ~PRNewswire~ -- United Mobile Homes, Inc. (NASDAQ: UMHI) owns and operates 20 mobile home parks located in New York, New Jersey, Pennsylvania, Ohio and Tennessee, consisting of 4,680 sites. Eugene W. Landy, president, stated that the company will elect to qualify as a Real Estate Investment Trust (REIT) in 1992 and subsequent years. Mr. Landy announced that the company had requested and has received a favorable ruling from the Internal Revenue Service on its election to qualify as a REIT. Thomas Robinson, Esq. of the accounting firm of Coopers & Lybrand represented the company in obtaining this favorable ruling.
 United Mobile Homes, Inc. also announced plans to acquire a mobile home park in Jacksonville, Fla. This mobile home park will ultimately be expanded to 415 sites. Mr. Landy stated that United Mobile Homes, Inc. plans to acquire additional mobile home parks in Florida, assuming the Jacksonville acquisition proceeds as projected.
 -0- 12~1~92
 ~CONTACT: Rosemarie Faccone of United Mobile Homes, Inc., 908-389-3890~
 (UMHI)


CO: United Mobile Homes, Inc. ST: New Jersey IN: AUT SU:

LR-OS -- NY041 -- 2414 12~01~92 12:05 EST
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Nov 24, 1992
Words:188
Previous Article:MASTERCARD INTERNATIONAL MAINTAINS LEADERSHIP IN CONSUMER PROTECTION FOR SECURED CARDS; TIGHTENS RULES TO REDUCE UNAUTHORIZED SOLICITATIONS
Next Article:ORLANDO UTILITIES COMMISSION (FL) SENIOR BONDS RATED 'AA+' BY FITCH -- FITCH FINANCIAL WIRE --
Topics:


Related Articles
MONMOUTH REAL ESTATE INVESTMENT CORPORATION ANNOUNCES EXPANSION PLANS, A MAJOR PROPERTY ACQUISITION AND EXPANDED BANK LINES
MONMOUTH REAL ESTATE INVESTMENT CORPORATION ANNOUNCES ACQUISITIONS OF NEW PROPERTIES AND THE ELIMINATION OF MORTGAGE HOLDINGS
UNITED MOBILE HOMES, INC. ANNOUNCES MAJOR REFINANCING
UNITED MOBILE HOMES, INC. REPORTS SIX-MONTH EARNINGS
UNITED MOBILE HOMES, INC. REPORTS FIRST QUARTER EARNINGS
UNITED MOBILE HOMES, INC. REPORTS OVER 50% INCREASE IN NET INCOME
United Mobile Homes, Inc. Reports Nine-Month Earnings
United Mobile Homes Increases Dividend By 17%
United Mobile Homes, Inc. Declares Dividend
United Mobile Homes, Inc. Announces Manufactured Home Community Acquisition

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters