UMH converted 188 new homes from inventory to revenue generating rental homes. UMH now owns approximately 10,600 rental homes with an occupancy rate of 94.4%. Same Property occupancy increased by 76 units during the second quarter and 251 units over last year to 88.2%. UMH achieved gross home sales revenue of $10.3M compared to $8.8M last year, representing an increase of approximately 17%. Occupancy gains and rent increases achieved throughout 2024 and thus far in 2025 have increased same property July 2025 rental and related charges by approximately 9.2% over July 2024 and total charges by 10.4%. Rental and related charges for the second quarter were $55.9M compared to $51.5M last year, representing an increase of approximately 8.5%. The company completed the addition of ten communities containing approximately 2,000 sites to its Fannie Mae credit facility. This refinancing generated total proceeds of approximately $101.4M with a fixed interest rate of 5.855%. As part of the refinancing process, a certified appraisal was conducted and concluded that these ten communities appraised for $163.5M, or $82,000 per site. Total investment in these communities is $66.6M. The communities have increased in value a total of $96.9M, or 146% from our cost basis. The company issued and sold approximately 1.8M shares of Common Stock through our At-the-Market sale program at a weighted average price of $17.60 per share, generating gross proceeds of $31M.
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