UMH PROPERTIES, INC. OBTAINS AN INDEPENDENT SECOND-PARTY OPINION FROM SUSTAINALYTICS
17 6월 2023 - 5:15AM
UMH Properties, Inc. (NYSE: UMH) (TASE: UMH) is pleased to announce
that it has obtained an independent second-party opinion (SPO) from
Sustainalytics on UMH’s April 2023 Sustainable Finance Framework.
UMH’s April 2023 framework gives greater flexibility in the types
of ESG financing that it could potentially attract. The April 2023
framework was designed to comply with the 2021 Sustainable Bond
Guidelines, the 2021 Green Bond Principles and the 2021 Social Bond
Principles developed by the International Capital Markets
Association.
In its favorable opinion, Sustainalytics
acknowledged UMH’s ability to provide affordable housing, noting
that affordability of the Company’s portfolio reached 97% of
low-income earners (defined as households making between 50-80% of
their area’s median income), which represented an increase from the
prior year's 94%. Sustainalytics also approved the Company's
energy-saving initiatives, water conservation efforts, and its
purchases of EnergyStar manufactured homes. The SPO and framework
are linked on our website www.umh.reit under the ESG tab.
Samuel A. Landy, UMH’s President and Chief
Executive Officer, commented “Sustainalytics' favorable opinion is
a testament to the Company's business plan and its hardworking
staff. We want our investors to know that they are investing in a
company that seeks to provide the best possible returns and aims to
solve an important social issue. UMH has a unique ability to
provide manufactured homes for sale or rent that is safe,
high-quality, and environmentally friendly and at a price point
that other types of housing providers struggle to match.”
Mr. Landy continued, “Rising interest rates are
increasing the affordability gap bringing new customers to UMH
manufactured home communities seeking quality manufactured homes
for sale or rent. UMH recognizes that the affordability of a
monthly payment is what makes people feel secure that they can
obtain and retain their housing. In addition to providing
affordable housing, our ability to provide financing on
manufactured homes, at rates below the industry average, is another
way we help to increase affordability for our residents. On top of
our social initiatives, Sustainalytics acknowledged in the SPO, our
focus on environmental care, water conservation and energy saving
initiatives, including future low-carbon investments such as solar
power.”
UMH Properties, Inc., which was organized in
1968, is a public equity REIT that owns and operates 135
manufactured home communities with approximately 25,700 developed
homesites. These communities are located in New Jersey, New York,
Ohio, Pennsylvania, Tennessee, Indiana, Maryland, Michigan,
Alabama, South Carolina and Georgia. UMH also has an ownership
interest in and operates two communities in Florida, containing 363
sites, through its joint venture with Nuveen Real Estate.
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Contact: Nelli
Madden732-577-4062
UMH Properties (NYSE:UMH)
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UMH Properties (NYSE:UMH)
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