04:55 PM EDT, 04/03/2024 (MT Newswires) -- UMH Properties ( UMH ) , a real estate investment trust that owns 135 home communities, said late Wednesday it expanded an unsecured revolving credit facility to $260 million in available borrowings from $180 million.

"The expansion will further enhance our liquidity and strengthen the financial flexibility and balance sheet as we continue to execute our growth strategy," Chief Executive Officer Samuel Landy said.

The facility is syndicated with Bank of Montreal's ( NRGD ) BMO Capital Markets, JPMorgan Chase ( JPM ) and Wells Fargo ( WFC ) as joint arrangers and joint book runners with Bank of Montreal ( NRGD ) as administrative agent, UMH Properties ( UMH ) said.