FREEHOLD, NJ, July01, 2019(GLOBE NEWSWIRE) -- UMH Properties, Inc. (NYSE: UMH) today announced that it has successfully completed the financing/refinancing of three of its communities, Southwind Village, Woodlawn Village and Oxford Village, through Wells Fargo Bank, N. A. for total proceeds of approximately $38.8 million. These Federal National Mortgage Association (Fannie Mae) mortgage loans have 10-year maturities with principal repayments based on 30-year amortization schedules. Interest on these mortgage are at 3.41%. Proceeds from these mortgages were primarily used to repay the existing 5.94% mortgages, which had a total balance of approximately $11.6 million.