Wednesday, January 25, 2017

Eugene W. Landy ’58 Honored for Years of Service and Leadership

Eugene W. Landy ’58 celebrated the 50th anniversary of the founding of his companies, Monmouth Real Estate Investment Corp. and UMH Properties, Inc., on January 19, 2017. The event, held at the New York Stock Exchange, on which both companies are listed, featured a keynote speech by James Grant, publisher of the Interest Rate Observer, as well as remarks by his YLS classmate, former dean and Sterling Professor Emeritus of Law, Judge Guido Calabresi ’58.

Eugene W. Landy founded UMH Properties Inc. and Monmouth Real Estate Investment Corp. in 1968. He was a pioneer of the real estate investment trust (REIT) industry. Professor Roberta Romano ’80 said of Landy, on the occasion of his receiving the Simeon E. Baldwin Award from Yale Law School in 2014, “Gene early on recognized how the REIT creates value by turning illiquid assets into liquid ones, facilitating homeowners’ and entrepreneurs’ property acquisitions.”

As part of the anniversary celebration, Landy rang the closing bell at the NYSE. A dinner reception followed, which was attended by many who had been instrumental in the companies’ years of success.