UMH Properties, Nuveen JV Buys 2nd Florida MHC
Rum Runner includes 144 homesites.
UMH Properties, through a joint venture with Nuveen Real Estate, has acquired manufactured housing community in Sebring, Fla., for $15.1 million. The deal is the partnership’s second new manufactured housing community transaction in the state.
Rum Runner is an all-age MHC located at 2545 Brunns Road, encompassing 144 homes that can be rented or bought. All homes have three-bedroom floorplans, front porches and eat-in kitchens. Common-area amenities include a fitness center, swimming pool, clubhouse and dog park area. Additionally, residents can enjoy activities such as pickleball, bocce ball or shuffleboard.
The pet-friendly community is situated on a roughly 20-acre site, close to Lake Jackson and retail options such as Lowe’s or Walmart. Rum Runner is 11 miles from Sebring Regional Airport and within 2 hours of both downtown Tampa and Orlando, Fla.
Established in late 2021, the joint venture focuses on the acquisition of recently completed manufactured home assets across U.S., with an initial capital commitment of $170 million. Outside the partnership, UMH Properties also owns a manufactured housing community in Jackson, N.J., which the company purchased for $23 million last month.