e10vk
UNITED STATES SECURITIES AND
EXCHANGE COMMISSION
Washington, D.C.
20549
Form 10-K
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ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
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For the Fiscal Year Ended
December 31, 2009
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or
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TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
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For the transition period
from to
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Commission File
Number: 1-11718
EQUITY LIFESTYLE PROPERTIES,
INC.
(Exact name of registrant as
specified in its charter)
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Maryland
(State or Other Jurisdiction
of
Incorporation or Organization)
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36-3857664
(I.R.S. Employer
Identification No.)
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Two North Riverside Plaza, Suite 800,
Chicago, Illinois
(Address of Principal
Executive Offices)
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60606
(Zip Code)
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(Registrants telephone number, including area code)
(312) 279-1400
Securities registered pursuant to Section 12(b) of the
Act:
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(Title of Class)
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(Name of Exchange on Which Registered)
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Common Stock, $.01 Par Value
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New York Stock Exchange
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Securities registered pursuant to Section 12(g) of the
Act:
None
Indicate by check mark if the Registrant is a well-known
seasoned issuer, as defined in Rule 405 of the Securities
Act. Yes þ No o
Indicate by check mark if the Registrant is not required to file
reports pursuant to Section 13 or Section 15(d) of the
Act. Yes o No þ
Indicate by check mark whether the Registrant (1) has filed
all reports required to be filed by Section 13 or 15(d) of
the Securities Exchange Act of 1934 during the preceding
12 months (or for such shorter period that the Registrant
was required to file such reports), and (2) has been
subject to such filing requirements for the past
90 days. Yes þ No o
Indicate by check mark whether the Registrant has submitted
electronically and posted on its corporate Website, if any,
every Interactive Data File required to be submitted and posted
pursuant to Rule 405 of
Regulation S-T
(§ 232.405 of this chapter) during the preceding
12 months (or for such shorter period that the registrant
was required to submit and post such
files). Yes o No o
Indicate by check mark if disclosure of delinquent filers
pursuant to Item 405 of
Regulation S-K
(§ 229.405) is not contained herein, and will not be
contained, to the best of the Registrants knowledge, in
definitive proxy or information statements incorporated by
reference in Part III of this
Form 10-K
or any amendment to this
Form 10-K. o
Indicate by check mark whether the registrant is a large
accelerated filer, an accelerated filer, a non-accelerated
filer, or a smaller reporting company. See the definitions of
large accelerated filer, accelerated
filer and smaller reporting company in
Rule 12b-2
of the Exchange Act. (Check one):
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Large accelerated
filer þ
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Accelerated
filer o
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Non-accelerated
filer o
(Do not check if a smaller reporting company)
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Smaller reporting
company o
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Indicate by check mark whether the Registrant is a shell company
(as defined in
Rule 12b-2
of the Exchange
Act). Yes o No þ
The aggregate market value of voting stock held by
non-affiliates was approximately $1,019.6 million as of
June 30, 2009 based upon the closing price of $37.18 on
such date using beneficial ownership of stock rules adopted
pursuant to Section 13 of the Securities Exchange Act of
1934 to exclude voting stock owned by Directors and Officers,
some of whom may not be held to be affiliates upon judicial
determination.
At February 23, 2010, 30,349,089 shares of the
Registrants common stock were outstanding.
DOCUMENTS
INCORPORATED BY REFERENCE:
Part III incorporates by reference portions of the
Registrants Proxy Statement relating to the Annual Meeting
of Stockholders to be held on May 11, 2010.
Equity
LifeStyle Properties, Inc.
TABLE OF
CONTENTS
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PART I
Equity
LifeStyle Properties, Inc.
General
Equity LifeStyle Properties, Inc., a Maryland corporation,
together with MHC Operating Limited Partnership (the
Operating Partnership) and other consolidated
subsidiaries (Subsidiaries), are referred to herein
as the Company, ELS, we,
us, and our. ELS has elected to be taxed
as a real estate investment trust (REIT), for
U.S. federal income tax purposes commencing with its
taxable year ended December 31, 1993.
The Company is a fully integrated owner and operator of
lifestyle-oriented properties (Properties). The
Company leases individual developed areas (sites)
with access to utilities for placement of factory built homes,
cottages, cabins or recreational vehicles (RVs).
Customers may lease individual sites or enter into right-to-use
contracts providing the customer access to specific Properties
for limited stays. The Company was formed in December 1992 to
continue the property operations, business objectives and
acquisition strategies of an entity that had owned and operated
Properties since 1969. As of December 31, 2009, we owned or
had an ownership interest in a portfolio of 304 Properties
located throughout the United States and Canada consisting of
110,575 residential sites. These Properties are located in
27 states and British Columbia (with the number of
Properties in each state or province shown parenthetically) as
follows: Florida (86), California (48), Arizona (35), Texas
(15), Pennsylvania (12), Washington (14), Colorado (10), Oregon
(9), North Carolina (8), Delaware (7), New York (6), Nevada (6),
Virginia (6), Indiana (5), Maine (5), Wisconsin (5), Illinois
(4), Massachusetts (3), Michigan (3), New Jersey (3), South
Carolina (3), New Hampshire (2), Ohio (2), Tennessee (2), Utah
(2), Alabama (1), Kentucky (1), and British Columbia (1).
Properties are designed and improved for several home options of
various sizes and designs that are produced off-site, installed
and set on designated sites (Site Set) within the
Properties. These homes can range from 400 to over
2,000 square feet. The smallest of these are referred to as
Resort Cottages. Properties may also have sites that
can accommodate a variety of RVs. Properties generally contain
centralized entrances, internal road systems and designated
sites. In addition, Properties often provide a clubhouse for
social activities and recreation and other amenities, which may
include restaurants, swimming pools, golf courses, lawn bowling,
shuffleboard courts, tennis courts, laundry facilities and cable
television service. In some cases, utilities are provided or
arranged for by us; otherwise, the customer contracts for the
utility directly. Some Properties provide water and sewer
service through municipal or regulated utilities, while others
provide these services to customers from
on-site
facilities. Properties generally are designed to attract
retirees, empty-nesters, vacationers and second home owners;
however, certain of our Properties focus on affordable housing
for families. We focus on owning properties in or near large
metropolitan markets and retirement and vacation destinations.
Employees
and Organizational Structure
We have approximately 3,200 full-time, part-time and
seasonal employees dedicated to carrying out our operating
philosophy and strategies of value enhancement and service to
our customers. The operations of each Property are coordinated
by an
on-site team
of employees that typically includes a manager, clerical staff
and maintenance workers, each of whom works to provide
maintenance and care of the Properties. Direct supervision of
on-site
management is the responsibility of our regional vice presidents
and regional and district managers. These individuals have
significant experience in addressing the needs of customers and
in finding or creating innovative approaches to maximize value
and increase cash flow from property operations. Complementing
this field management staff are approximately 138 full-time
corporate employees who assist
on-site and
regional management in all property functions.
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Formation
of the Company
The operations of the Company are conducted primarily through
the Operating Partnership. The Company contributed the proceeds
from its initial public offering in 1993 and subsequent
offerings to the Operating Partnership for a general partnership
interest. In 2004, the general partnership interest was
contributed to MHC Trust, a private REIT subsidiary owned by the
Company. The financial results of the Operating Partnership and
the Subsidiaries are consolidated in the Companys
consolidated financial statements. In addition, since certain
activities, if performed by the Company, may not be qualifying
REIT activities under the Internal Revenue Code of 1986, as
amended (the Code), the Company has formed taxable
REIT subsidiaries, as defined in the Code, to engage in such
activities.
Realty Systems, Inc. (RSI) is a wholly owned taxable
REIT subsidiary of the Company that is engaged in the business
of purchasing and selling or leasing Site Set homes that are
located in Properties owned and managed by the Company. RSI also
provides brokerage services to residents at such Properties for
those residents who move from a Property but do not relocate
their homes. RSI may provide brokerage services, in competition
with other local brokers, by seeking buyers for the Site Set
homes. Subsidiaries of RSI also operate ancillary activities at
certain Properties consisting of operations such as golf
courses, pro shops, stores and restaurants. Several Properties
are also wholly owned by taxable REIT subsidiaries of the
Company.
Business
Objectives and Operating Strategies
Our strategy seeks to maximize both current income and long-term
growth in income. We focus on properties that have strong cash
flow and we expect to hold such properties for long-term
investment and capital appreciation. In determining cash flow
potential, we evaluate our ability to attract and retain high
quality customers in our Properties who take pride in the
Property and in their home. These business objectives and their
implementation are determined by our Board of Directors and may
be changed at any time. Our investment, operating and financing
approach includes:
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Providing consistently high levels of services and amenities in
attractive surroundings to foster a strong sense of community
and pride of home ownership;
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Efficiently managing the Properties to increase operating
margins by controlling expenses, increasing occupancy and
maintaining competitive market rents;
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Increasing income and property values by continuing the
strategic expansion and, where appropriate, renovation of the
Properties;
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Utilizing management information systems to evaluate potential
acquisitions, identify and track competing properties and
monitor customer satisfaction;
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Selectively acquiring properties that have potential for
long-term cash flow growth and to create property concentrations
in and around major metropolitan areas and retirement or
vacation destinations to capitalize on operating synergies and
incremental efficiencies; and
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Managing our debt balances such that we maintain financial
flexibility, minimize exposure to interest rate fluctuations,
and maintain an appropriate degree of leverage to maximize
return on capital.
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Our strategy is to own and operate the highest quality
properties in sought-after locations near urban areas,
retirement and vacation destinations across the United States.
We focus on creating an attractive residential environment by
providing a well-maintained, comfortable Property with a variety
of recreational and social activities and superior amenities as
well as offering a multitude of lifestyle housing choices. In
addition, we regularly conduct evaluations of the cost of
housing in the marketplaces in which our Properties are located
and survey rental rates of competing properties. From time to
time we also conduct satisfaction surveys of our customers to
determine the factors they consider most important in choosing a
property. We improve site utilization and efficiency by tracking
types of customers and usage patterns and marketing to those
specific customer groups.
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Acquisitions
and Dispositions
Over the last decade our portfolio of Properties has grown
significantly from owning or having an interest in 157
Properties with over 53,000 sites to owning or having an
interest in 304 Properties with over 110,000 sites. We
continually review the Properties in our portfolio to ensure
that they fit our business objectives. Over the last five years
we sold 16 Properties, and we redeployed capital to markets we
believe have greater long-term potential. In that same time
period we acquired 46 Properties located in high growth areas
such as Florida, Arizona and California.
We believe that opportunities for property acquisitions are
still available. Increasing acceptability of and demand for a
lifestyle that includes Site Set homes and RVs as well as
continued constraints on development of new properties continue
to add to their attractiveness as an investment. We believe we
have a competitive advantage in the acquisition of additional
properties due to our experienced management, significant
presence in major real estate markets and substantial capital
resources. We are actively seeking to acquire additional
properties and are engaged in various stages of negotiations
relating to the possible acquisition of a number of properties.
We anticipate that new acquisitions will generally be located in
the United States, although we may consider other geographic
locations provided they meet our acquisition criteria. We
utilize market information systems to identify and evaluate
acquisition opportunities, including a market database to review
the primary economic indicators of the various locations in
which we expect to expand our operations. Acquisitions will be
financed from the most appropriate sources of capital, which may
include undistributed funds from operations, issuance of
additional equity securities, sales of investments,
collateralized and uncollateralized borrowings and issuance of
debt securities. In addition, the Company may acquire properties
in transactions that include the issuance of limited partnership
interests in the Operating Partnership (Units) as
consideration for the acquired properties. We believe that an
ownership structure that includes the Operating Partnership will
permit us to acquire additional properties in transactions that
may defer all or a portion of the sellers tax consequences.
When evaluating potential acquisitions, we consider such factors
as:
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The replacement cost of the property including land values,
entitlements and zoning;
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The geographic area and type of the property;
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The location, construction quality, condition and design of the
property;
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The current and projected cash flow of the property and the
ability to increase cash flow;
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The potential for capital appreciation of the property;
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The terms of tenant leases or usage rights, including the
potential for rent increases;
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The potential for economic growth and the tax and regulatory
environment of the community in which the property is located;
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The potential for expansion of the physical layout of the
property and the number of sites;
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The occupancy and demand by customers for properties of a
similar type in the vicinity and the customers profile;
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The prospects for liquidity through sale, financing or
refinancing of the property; and
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The competition from existing properties and the potential for
the construction of new properties in the area.
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When evaluating potential dispositions, we consider such factors
as:
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The ability to sell the Property at a price that we believe will
provide an appropriate return for our stockholders;
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Our desire to exit certain non-core markets and recycle the
capital into core markets; and
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Whether the Property meets our current investment criteria.
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When investing capital we consider all potential uses of the
capital including returning capital to our stockholders. Our
Board of Directors continues to review the conditions under
which we will repurchase our stock. These conditions include,
but are not limited to, market price, balance sheet flexibility,
other opportunities and capital requirements.
Property
Expansions
Several of our Properties have available land for expanding the
number of sites available to be utilized by our customers.
Development of these sites (Expansion Sites) is
evaluated based on the following: local market conditions;
ability to subdivide; accessibility through the Property or
externally; infrastructure needs including utility needs and
access as well as additional common area amenities; zoning and
entitlement; costs; topography; and ability to market new sites.
When justified, development of Expansion Sites allows us to
leverage existing facilities and amenities to increase the
income generated from the Properties. Where appropriate,
facilities and amenities may be upgraded or added to certain
Properties to make those Properties more attractive in their
markets. Our acquisition philosophy has included the desire to
own Properties with potential Expansion Site development.
Approximately 83 of our Properties have expansion potential,
with approximately 5,600 acres available for expansion.
Leases or
Usage Rights
At our Properties, a typical lease entered into between the
owner of a home and the Company for the rental of a site is for
a month-to-month or year-to-year term, renewable upon the
consent of both parties or, in some instances, as provided by
statute. These leases are cancelable, depending on applicable
law, for non-payment of rent, violation of Property rules and
regulations or other specified defaults. Non-cancelable
long-term leases, with remaining terms ranging up to ten years,
are in effect at certain sites within 31 of the Properties. Some
of these leases are subject to rental rate increases based on
the Consumer Price Index (CPI), in some instances
taking into consideration certain floors and ceilings and
allowing for pass-throughs of certain items such as real estate
taxes, utility expenses and capital expenditures. Generally,
market rate adjustments are made on an annual basis. At
Properties zoned for RV use, long-term customers typically enter
into rental agreements and many typically prepay for their stay.
Many resort customers will also leave deposits to reserve a site
for the following year. Generally these customers cannot live
full time on the Property. At resort Properties designated for
use by customers who have purchased a right-to-use or membership
contract, the contract generally grants the customer access to
designated Properties on a continuous basis of up to
14 days. The customer typically makes a nonrefundable
upfront payment and annual dues payments are required to renew
the contract. The contracts provide for an annual dues increase
generally based on increases in the CPI. Approximately 31% of
the current customers are not subject to annual dues increases
because their dues were frozen in accordance with the terms of
their contract, generally because the customer is over
61 years old or disabled.
Regulations
and Insurance
General. Our Properties are subject to various
laws, ordinances and regulations, including regulations relating
to recreational facilities such as swimming pools, clubhouses
and other common areas, regulations relating to providing
utility services, such as electricity, to our customers, and
regulations relating to operating water and wastewater treatment
facilities at certain of our Properties. We believe that each
Property has all material permits and approvals necessary to
operate.
Rent Control Legislation. At certain of our
Properties, state and local rent control laws, principally in
California, limit our ability to increase rents and to recover
increases in operating expenses and the costs of capital
improvements. Enactment of such laws has been considered from
time to time in other jurisdictions. We presently expect to
continue to maintain Properties, and may purchase additional
properties, in markets that are either subject to rent control
or in which rent-limiting legislation exists or may be enacted.
For example, Florida has enacted a law that generally provides
that rental increases must be reasonable. Also, certain
jurisdictions in California in which we own Properties limit
rent increases to changes in the CPI or some percentage thereof.
As part of our effort to realize the value of our Properties
subject to restrictive regulation, we have initiated lawsuits
against several municipalities imposing such regulation in an
attempt to balance the interests of our stockholders
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with the interests of our customers (see Item 3.
Legal Proceedings). Further, at certain of our
Properties primarily used as membership campgrounds, some state
statutes limit our ability to close the Property unless we make
a reasonable substitute property available for the members
use. Many states also have consumer protection laws regulating
right-to-use or campground membership sales and the financing of
such sales. Some states have laws requiring the Company to
register with a state agency and obtain a permit to market (see
Item 1A. Risk Factors).
Insurance. The Properties are covered against
fire, flood, property damage, earthquake, windstorm and business
interruption by insurance policies containing various deductible
requirements and coverage limits. Recoverable costs are
classified in other assets as incurred. Insurance proceeds are
applied against the asset when received. Recoverable costs
relating to capital items are treated in accordance with the
Companys capitalization policy. The book value of the
original capital item is written off once the value of the
impaired asset has been determined. Insurance proceeds relating
to capital costs are recorded as income in the period they are
received.
Our current property and casualty insurance policies, which we
plan to renew, expire on March 31, 2010. We have a
$100 million loss limit with respect to our all-risk
property insurance program including Named Windstorm and a
$25 million loss limit for California Earthquake. Policy
deductibles primarily range from $100,000 to 5% of insurable
values specifically for Named Windstorm, Named Storm Flood and
California Earthquake. Losses in a
100-year
Flood zone are subject to varying deductibles with a maximum
exposure of $500,000. A deductible indicates ELS maximum
exposure, subject to policy sub-limits, in the event of a loss.
INDUSTRY
We believe that modern properties similar to ours provide an
opportunity for increased cash flows and appreciation in value.
These may be achieved through increases in occupancy rates and
rents, as well as expense controls, expansion of existing
Properties and opportunistic acquisitions, for the following
reasons:
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Barriers to Entry: We believe that the supply
of new properties in locations targeted by the Company will be
constrained due to barriers to entry. The most significant
barrier has been the difficulty of securing zoning from local
authorities. This has been the result of (i) the
publics historically poor perception of manufactured
housing, and (ii) the fact that properties generate less
tax revenue because the homes are treated as personal property
(a benefit to the homeowner) rather than real property. Another
factor that creates substantial barriers to entry is the length
of time between investment in a propertys development and
the attainment of stabilized occupancy and the generation of
revenues. The initial development of the infrastructure may take
up to two or three years. Once a property is ready for
occupancy, it may be difficult to attract customers to an empty
property. Substantial occupancy levels may take several years to
achieve.
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Industry Consolidation: According to various
industry reports, there are approximately 50,000 manufactured
home properties and approximately 8,500 RV properties (excluding
government owned properties) in North America. Most of these
properties are not operated by large owner/operators and of the
RV properties approximately 1,200 contain 200 sites or more. We
believe that this relatively high degree of fragmentation
provides us, as a national organization with experienced
management and substantial financial resources, the opportunity
to purchase additional properties.
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Customer Base: We believe that properties tend
to achieve and maintain a stable rate of occupancy due to the
following factors: (i) customers typically own their own
homes, (ii) properties tend to foster a sense of community
as a result of amenities such as clubhouses and recreational and
social activities, (iii) since moving a Site Set home from
one property to another involves substantial cost and effort,
customers often sell their home in-place (similar to site-built
residential housing) with no interruption of rental payments to
us.
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Lifestyle Choice: According to the
Recreational Vehicle Industry Association, nearly 1 in 10
U.S. vehicle-owning households owns an RV and there are
eight million current RV owners. The 78 million people born
from 1946 to 1964 or baby boomers make up the
fastest growing segment of this market. Every
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day 11,000 Americans turn 50 according to U.S. Census
figures. We believe that this population segment, seeking an
active lifestyle, will provide opportunities for future cash
flow growth for the Company. Current RV owners, once finished
with the more active RV lifestyle, will often seek more
permanent retirement or vacation establishments. The Site Set
housing choice has become an increasingly popular housing
alternative for retirement, second-home, and
empty-nest living. According to U.S. Census
figures, the baby-boom generation will constitute almost 16% of
the U.S. population within the next 20 years. Among
those individuals who are nearing retirement (age 46 to
64), approximately 33% plan on moving upon retirement.
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We believe that the housing choices in our Properties are
especially attractive to such individuals throughout this
lifestyle cycle. Our Properties offer an appealing amenity
package, close proximity to local services, social activities,
low maintenance and a secure environment. In fact, many of our
Properties allow for this cycle to occur within a single
Property.
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Construction Quality: Since 1976, all factory
built housing has been required to meet stringent federal
standards, resulting in significant increases in quality. The
Department of Housing and Urban Developments
(HUD) standards for Site Set housing construction
quality are the only federally regulated standards governing
housing quality of any type in the United States. Site Set homes
produced since 1976 have received a red and silver
government seal certifying that they were built in compliance
with the federal code. The code regulates Site Set home design
and construction, strength and durability, fire resistance and
energy efficiency, and the installation and performance of
heating, plumbing, air conditioning, thermal and electrical
systems. In newer homes, top grade lumber and dry wall materials
are common. Also, manufacturers are required to follow the same
fire codes as builders of site-built structures. In addition,
although Resort Cottages do not come under the same regulation,
many of the manufacturers of Site Set homes also produce Resort
Cottages with many of the same quality standards.
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Comparability to Site-Built Homes: The Site
Set housing industry has experienced a trend towards
multi-section homes. Many modern Site Set homes are longer (up
to 80 feet, compared to 50 feet in the 1960s)
and wider than earlier models. Many such homes have nine-foot
ceilings or vaulted ceilings, fireplaces and as many as four
bedrooms, and closely resemble single-family ranch style
site-built homes.
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Second Home Demographics: According to 2009
National Association of Realtors (NAR) reports,
sales of second homes in 2008 accounted for 30% of residential
transactions, or 1.63 million second-home sales in 2008.
There were approximately 8.1 million vacation homes in
2008. The typical vacation-home buyer is 46 years old and
earned $97,200 in 2008. According to 2008 NAR reports,
approximately 57% of vacation home-owners prefer to be near an
ocean, river or lake; 38% close to boating activities; 32% close
to hunting or fishing activities; and 17% close to winter
recreations. In looking ahead, NAR believes that baby boomers
are still in their peak earning years, and the leading edge of
their generation is approaching retirement. As they continue to
have the financial wherewithal to purchase second homes as a
vacation property, investment opportunity, or perhaps as a
retirement retreat, those baby boomers will continue to drive
the market for second-homes. We believe it is likely that over
the next decade we will continue to see historically high levels
of second home sales and resort homes and cottages in our
Properties will also continue to provide a viable second home
alternative to site-built homes.
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Notwithstanding our belief that the industry information
highlighted above provides the Company with significant
long-term growth opportunities, our short-term growth
opportunities could be disrupted by the following:
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Shipments According to statistics compiled by
the U.S. Census Bureau, shipments of new manufactured homes
have been declining since 2005. Shipments of new manufactured
homes for the first eleven months in 2009 decreased over 40% to
46,200 units as compared to shipments of new manufactured
homes for the first eleven months in 2008 of 77,500 units.
The decline for 2008 as compared to 2007 was almost 15%.
According to the Recreational Vehicle Industry Association
(RVIA), wholesale shipments of RVs declined 30.1% in
2009 to 165,700 units as compared to 2008, but experienced
an increase of almost 25% in the last six months of 2009 as
compared to the last six months of 2008. Industry experts have
predicted that 2010 RV shipments will increase almost 30%, as
compared to 2009, to 215,900.
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Manufactured
Housing and Recreation Vehicle
Annual Shipments 2000-2009 (MH 2009 YTD: through
November)
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(1) |
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Source: Institute for Building Technology and Safety |
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Source: RVIA |
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Sales Retail sales of RVs declined almost 25%
to 161,100 for the first 11 months of 2009, as compared to
214,400 the first 11 months of 2008. A total of 232,000 RVs
were sold during the year ended December 31, 2008,
representing a decline of almost 25% over the prior year. RVIA
has indicated that the RV industry is seeing signs of
improvement and the recovery is expected to strengthen slowly as
credit availability, job security, and consumer confidence
improve. Gains are expected in 2010 as negative financial
factors give way to improved market conditions.
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Availability of financing The current credit
crisis has made it difficult for manufactured home and RV
manufacturers to obtain floor plan financing and for potential
customers to obtain loans for manufactured home or RV purchases.
RVIA states that the federal economic credit and stimulus
packages designed to stimulate RV lending and which provide tax
deductions to buyers of RVs may help promote sales of RVs.
However, there is very little availability in terms of financing
for manufactured home buyers. As compared to financing available
to owners and purchasers of site-built single family homes,
financing of a manufactured home involves higher down payments,
higher FICO scores, higher interest rates and shorter maturity.
Additionally, certain government stimulus packages have resulted
in government guarantees of site-built single family home loans,
thereby increasing the supply of financing for that market.
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Please see our risk factors, financial statements and related
notes contained in this
Form 10-K
for more information.
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Available
Information
We file reports electronically with the Securities and Exchange
Commission (SEC). The public may read and copy any
materials we file with the SEC at the SECs Public
Reference Room at 100 F Street, NE, Washington, DC
20549. The public may obtain information on the operation of the
Public Reference Room by calling the SEC at
1-800-SEC-0330.
The SEC maintains an Internet site that contains reports, proxy
information and statements, and other information regarding
issuers that file electronically with the SEC at
http://www.sec.gov.
We maintain an Internet site with information about the Company
and hyperlinks to our filings with the SEC at
http://www.equitylifestyle.com,
free of charge. Requests for copies of our filings with the
SEC and other investor inquiries should be directed to:
Investor Relations Department
Equity LifeStyle Properties, Inc.
Two North Riverside Plaza
Chicago, Illinois 60606
Phone:
1-800-247-5279
e-mail:
investor_relations@equitylifestyle.com
Our
Performance and Common Stock Value Are Subject to Risks
Associated With the Real Estate Industry.
Adverse Economic Conditions and Other Factors Could Adversely
Affect the Value of Our Properties and Our Cash
Flow. Several factors may adversely affect the
economic performance and value of our Properties. These factors
include:
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changes in the national, regional and local economic climate;
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local conditions such as an oversupply of lifestyle-oriented
properties or a reduction in demand for lifestyle-oriented
properties in the area, the attractiveness of our Properties to
customers, competition from manufactured home communities and
other lifestyle-oriented properties and alternative forms of
housing (such as apartment buildings and site-built single
family homes);
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the ability of manufactured home and RV manufacturers to adapt
to changes in the economic climate and the availability of units
from these manufacturers;
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the ability of our potential customers to sell their existing
site-built residence in order to purchase a resort home or
cottage in our Properties and heightened price sensitivity for
seasonal and second homebuyers;
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the ability of our potential customers to obtain financing on
the purchase of a resort home, resort cottage or RV;
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government stimulus intended to primarily benefit purchasers of
site-built housing;
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availability and price of gasoline, especially for our transient
customers;
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our ability to collect rent, annual payments and principal and
interest from customers and pay or control maintenance,
insurance and other operating costs (including real estate
taxes), which could increase over time;
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the failure of our assets to generate income sufficient to pay
our expenses, service our debt and maintain our Properties,
which may adversely affect our ability to make expected
distributions to our stockholders;
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our inability to meet mortgage payments on any Property that is
mortgaged, in which case the lender could foreclose on the
mortgage and take the Property;
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interest rate levels and the availability of financing, which
may adversely affect our financial condition;
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changes in laws and governmental regulations (including rent
control laws and regulations governing usage, zoning and taxes),
which may adversely affect our financial condition;
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poor weather, especially on holiday weekends in the summer,
could reduce the economic performance of our Northern resort
Properties; and
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our ability to sell new or upgraded right-to-use contracts and
to retain customers who have previously purchased a right-to-use
contract.
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New Acquisitions May Fail to Perform as Expected and
Competition for Acquisitions May Result in Increased Prices for
Properties. We intend to continue to acquire
properties. Newly acquired Properties may fail to perform as
expected. We may underestimate the costs necessary to bring an
acquired property up to standards established for its intended
market position. Difficulties in integrating acquisitions may
prove costly or time-consuming and could divert management
attention. Additionally, we expect that other real estate
investors with significant capital will compete with us for
attractive investment opportunities. These competitors include
publicly traded REITs, private REITs and other types of
investors. Such competition increases prices for properties. We
expect to acquire properties with cash from secured or unsecured
financings, proceeds from offerings of equity or debt,
undistributed funds from operations and sales of investments. We
may not be in a position or have the opportunity in the future
to make suitable property acquisitions on favorable terms.
Because Real Estate Investments Are Illiquid, We May Not be
Able to Sell Properties When Appropriate. Real estate
investments generally cannot be sold quickly. We may not be able
to vary our portfolio promptly in response to economic or other
conditions, forcing us to accept lower than market value. This
inability to respond promptly to changes in the performance of
our investments could adversely affect our financial condition
and ability to service debt and make distributions to our
stockholders.
Some Potential Losses Are Not Covered by
Insurance. We carry comprehensive insurance
coverage for losses resulting from property damage, liability
claims and business interruption on all of our Properties. In
addition we carry liability coverage for other activities not
specifically related to property operations. These coverages
include, but are not limited to, Directors & Officers
liability, Employer Practices liability and Fiduciary liability.
We believe that the policy specifications and coverage limits of
these policies should be adequate and appropriate. There are,
however, certain types of losses, such as lease and other
contract claims that generally are not insured. Should an
uninsured loss or a loss in excess of coverage limits occur, we
could lose all or a portion of the capital we have invested in a
Property or the anticipated future revenue from a Property. In
such an event, we might nevertheless remain obligated for any
mortgage debt or other financial obligations related to the
Property.
Our current property and casualty insurance policies, which we
plan to renew, expire on March 31, 2010. We have a
$100 million loss limit with respect to our all-risk
property insurance program including Named Windstorm and a
$25 million loss limit for California Earthquake. Policy
deductibles primarily range from $100,000 to 5% of insurable
values specifically for Named Windstorm, Named Storm Flood and
California Earthquake. Losses in a
100-year
Flood zone are subject to varying deductibles with a maximum
exposure of $500,000. A deductible indicates ELS maximum
exposure, subject to policy sub-limits, in event of a loss.
There can be no assurance that the actions of the
U.S. government, Federal Reserve and other governmental and
regulatory bodies for the purpose of stabilizing the financial
markets, or market response to those actions, will achieve the
intended effect, and our business may not benefit from and may
be adversely impacted by these actions and further government or
market developments could adversely impact
us. Since mid-2007, and particularly during the
second half of 2008, the financial services industry and the
securities markets generally were materially and adversely
affected by significant declines in the values of nearly all
asset classes and by a serious lack of liquidity. This was
initially triggered by declines in the values of subprime
mortgages, but spread to all mortgage and real estate asset
classes, to leveraged bank loans and to nearly all asset
classes, including equities. The global markets have been
characterized by substantially increased volatility and
short-selling and an overall loss of investor confidence,
initially in financial institutions, but more recently in
companies in a number of other industries and in the broader
markets. The decline in asset values has caused increases in
margin calls for investors, requirements that derivatives
counterparties post additional collateral and
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redemptions by mutual and hedge fund investors, all of which
have increased the downward pressure on asset values and
outflows of client funds across the financial services industry.
In addition, the increased redemptions and unavailability of
credit have required hedge funds and others to rapidly reduce
leverage, which has increased volatility and further contributed
to the decline in asset values.
In response to the recent unprecedented financial issues
affecting the banking system and financial markets and going
concern threats to investment banks and other financial
institutions, the Emergency Economic Stabilization Act of 2008
(the EESA), was signed into law on October 3,
2008. The EESA provides the U.S. Secretary of Treasury with
the authority to establish a Troubled Asset Relief Program
(TARP), to purchase from financial institutions up
to $700 billion of residential or commercial mortgages and
any securities, obligations, or other instruments that are based
on, or related to, such mortgages, that in each case was
originated or issued on or before March 14, 2008. EESA also
provides for a program that would allow companies to insure
their troubled assets. On February 17, 2009, President
Obama signed the American Recovery and Reinvestment Act of 2009
(ARRA), a $787 billion stimulus bill for the
purpose of stabilizing the economy by creating jobs, among other
things. As of February 25, 2010, the U.S. Treasury is
managing or overseeing the following programs under TARP: the
Capital Purchase Program (CPP), the Systemically
Significant Failing Institutions Program (SSFIP),
the Auto Industry Financing Program (AIFP), the
Legacy Securities Public-Private Investment Program
(S-PPIP) and the Homeowner Affordability and
Stability Plan (HASP) which is partially financed by
TARP. HASP, also known as The Making Home Affordable
Program, offers the following options for homeowners:
(1) refinancing mortgage loans through the Home Affordable
Refinance Program (HARP), (2) modifying first
and second mortgage loans through the Home Affordable
Modification Program (HAMP) and the Second Lien
Modification Program (2MP) and (3) offering
other alternatives to foreclosure through the Home Affordable
Foreclosure Alternatives Program (HAFA). According to a
U.S. Treasury press releases, HASP, along with other
financial stability programs have improved credit conditions as
evidenced by statistics such as: 1) near historic lows on
residential mortgage rates and 2) stabilization of home
prices.
These can be no assurance that the EESA, TARP or other programs
will have a beneficial impact on the financial markets or the
economy. In addition, the U.S. Government, Federal Reserve
and other governmental and regulatory bodies have taken or are
considering taking other actions to address the financial
crisis. We cannot predict whether or when such actions may occur
or what impact, if any, such actions could have on our business,
results of operations and financial condition. In fact, such
actions may have a significant negative impact on our customers
to the extent they benefit only owners of site-built single
family housing and not to purchasers of Site Set homes who lease
the underlying land and RVs.
Adverse
changes in general economic conditions may adversely affected
our business.
Our success is dependent upon economic conditions in the
U.S. generally, and in the geographic areas in which a
substantial number of our Properties are located. Adverse
changes in national economic conditions and in the economic
conditions of the regions in which we conduct substantial
business may have an adverse effect on the real estate values of
our Properties and our financial performance and the market
price of our common stock.
In a recession or under other adverse economic conditions,
non-earning assets and write-downs are likely to increase as
debtors fail to meet their payment obligations. Although we
maintain reserves for credit losses and an allowance for
doubtful accounts in amounts that we believe should be
sufficient to provide adequate protection against potential
write-downs in our portfolio, these amounts could prove to be
insufficient.
Campground
Membership Properties Laws and Regulations Could Adversely
Affect the Value of Certain Properties and Our Cash
Flow.
Many of the states in which the Company does business have laws
regulating right-to-use or campground membership sales. These
laws generally require comprehensive disclosure to prospective
purchasers, and give purchasers the right to rescind their
purchase generally between three-to-five days after the date of
sale. Some states have laws requiring the Company to register
with a state agency and obtain a permit to market. The
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Company is subject to changes, from time to time, in the
application or interpretation of such laws that can affect its
business or the rights of its members.
In some states, including California, Oregon and Washington,
laws place limitations on the ability of the owner of a
campground property to close the property unless the customers
at the property receive access to a comparable property. The
impact of the rights of customers under these laws is uncertain
and could adversely affect the availability or timing of sale
opportunities or the ability of the Company to realize
recoveries from Property sales.
The government authorities regulating the Companys
activities have broad discretionary power to enforce and
interpret the statutes and regulations that they administer,
including the power to enjoin or suspend sales activities,
require or restrict construction of additional facilities and
revoke licenses and permits relating to business activities. The
Company monitors its sales and marketing programs and debt
collection activities to control practices that might violate
consumer protection laws and regulations or give rise to
consumer complaints.
Certain consumer rights and defenses that vary from jurisdiction
to jurisdiction may affect the Companys portfolio of
contracts receivable. Examples of such laws include state and
federal consumer credit and
truth-in-lending
laws requiring the disclosure of finance charges, and usury and
retail installment sales laws regulating permissible finance
charges.
In certain states, as a result of government regulations and
provisions in certain of the right-to-use or campground
membership agreements, the Company is prohibited from selling
more than ten memberships per site. At the present time, these
restrictions do not preclude the Company from selling
memberships in any state. However, these restrictions may limit
the Companys ability to utilize Properties for public
usage and/or
the Companys ability to convert sites to more profitable
or predictable uses, such as annual rentals.
Debt
Financing, Financial Covenants and Degree of Leverage Could
Adversely Affect Our Economic Performance.
Scheduled Debt Payments Could Adversely Affect Our Financial
Condition. Our business is subject to risks
normally associated with debt financing. The total principal
amount of our outstanding indebtedness was approximately
$1.5 billion as of December 31, 2009. Our substantial
indebtedness and the cash flow associated with serving our
indebtedness could have important consequences, including the
risks that:
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our cash flow could be insufficient to pay distributions at
expected levels and meet required payments of principal and
interest;
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we will be required to use a substantial portion of our cash
flow from operations to pay our indebtedness, thereby reducing
the availability of our cash flow to fund the implementation of
our business strategy, acquisitions, capital expenditures and
other general corporate purposes;
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our debt service obligations could limit our flexibility in
planning for, or reacting to, changes in our business and the
industry in which we operate;
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we may not be able to refinance existing indebtedness (which in
virtually all cases requires substantial principal payments at
maturity) and, if we can, the terms of such refinancing might
not be as favorable as the terms of existing indebtedness;
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if principal payments due at maturity cannot be refinanced,
extended or paid with proceeds of other capital transactions,
such as new equity capital, our cash flow will not be sufficient
in all years to repay all maturing debt; and
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if prevailing interest rates or other factors at the time of
refinancing (such as the possible reluctance of lenders to make
commercial real estate loans) result in higher interest rates,
increased interest expense would adversely affect cash flow and
our ability to service debt and make distributions to
stockholders.
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Ability to obtain mortgage financing or to refinance maturing
mortgages may adversely affect our financial
condition. During 2009, we have received
financing proceeds from Fannie Mae secured by mortgages on
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individual manufactured home Properties. The terms of the Fannie
Mae financings have been relatively attractive as compared to
other potential lenders. If financing proceeds are no longer
available from Fannie Mae for any reason or if Fannie Mae terms
are no longer attractive, it may adversely affect cash flow and
our ability to service debt and make distributions to
stockholders.
Financial Covenants Could Adversely Affect Our Financial
Condition. If a Property is mortgaged to secure
payment of indebtedness and we are unable to meet mortgage
payments, the mortgagee could foreclose on the Property,
resulting in loss of income and asset value. The mortgages on
our Properties contain customary negative covenants, which among
other things, limit our ability, without the prior consent of
the lender, to further mortgage the Property and to discontinue
insurance coverage. In addition, our credit facilities contain
certain customary restrictions, requirements and other
limitations on our ability to incur indebtedness, including
total debt to assets ratios, debt service coverage ratios and
minimum ratios of unencumbered assets to unsecured debt.
Foreclosure on mortgaged Properties or an inability to refinance
existing indebtedness would likely have a negative impact on our
financial condition and results of operations.
Our Degree of Leverage Could Limit Our Ability to Obtain
Additional Financing. Our debt to market
capitalization ratio (total debt as a percentage of total debt
plus the market value of the outstanding common stock and Units
held by parties other than the Company) was approximately 47% as
of December 31, 2009. The degree of leverage could have
important consequences to stockholders, including an adverse
effect on our ability to obtain additional financing in the
future for working capital, capital expenditures, acquisitions,
development or other general corporate purposes, and makes us
more vulnerable to a downturn in business or the economy
generally.
We Depend
on Our Subsidiaries Dividends and Distributions.
Substantially all of our assets are indirectly held through the
Operating Partnership. As a result, we have no source of
operating cash flow other than from distributions from the
Operating Partnership. Our ability to pay dividends to holders
of common stock depends on the Operating Partnerships
ability first to satisfy its obligations to its creditors and
make distributions payable to third party holders of its
preferred Units and then to make distributions to MHC Trust and
common Unit holders. Similarly, MHC Trust must satisfy its
obligations to its creditors and preferred stockholders before
making common stock distributions to us.
Stockholders
Ability to Effect Changes of Control of the Company is
Limited.
Provisions of Our Charter and Bylaws Could Inhibit Changes of
Control. Certain provisions of our charter and
bylaws may delay or prevent a change of control of the Company
or other transactions that could provide our stockholders with a
premium over the then-prevailing market price of their common
stock or which might otherwise be in the best interest of our
stockholders. These include the Ownership Limit described below.
Also, any future series of preferred stock may have certain
voting provisions that could delay or prevent a change of
control or other transaction that might involve a premium price
or otherwise be beneficial to our stockholders.
Maryland Law Imposes Certain Limitations on Changes of
Control. Certain provisions of Maryland law
prohibit business combinations (including certain
issuances of equity securities) with any person who beneficially
owns 10%or more of the voting power of outstanding common stock,
or with an affiliate of the Company who, at any time within the
two-year period prior to the date in question, was the owner of
10% or more of the voting power of the outstanding voting stock
(an Interested Stockholder), or with an affiliate of
an Interested Stockholder. These prohibitions last for five
years after the most recent date on which the Interested
Stockholder became an Interested Stockholder. After the
five-year period, a business combination with an Interested
Stockholder must be approved by two super-majority stockholder
votes unless, among other conditions, our common stockholders
receive a minimum price for their shares and the consideration
is received in cash or in the same form as previously paid by
the Interested Stockholder for its shares of common stock. The
Board of Directors has exempted from these provisions under the
Maryland law any business combination with Samuel Zell, who is
the Chairman of the Board of the Company, certain holders of
Units who received them at the time of our initial public
offering, the General Motors Hourly Rate Employees Pension
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Trust and the General Motors Salaried Employees Pension Trust,
and our officers who acquired common stock at the time we were
formed and each and every affiliate of theirs.
We Have a Stock Ownership Limit for REIT Tax
Purposes. To remain qualified as a REIT for
U.S. federal income tax purposes, not more than 50% in
value of our outstanding shares of capital stock may be owned,
directly or indirectly, by five or fewer individuals (as defined
in the federal income tax laws applicable to REITs) at any time
during the last half of any taxable year. To facilitate
maintenance of our REIT qualification, our charter, subject to
certain exceptions, prohibits Beneficial Ownership (as defined
in our charter) by any single stockholder of more than 5% (in
value or number of shares, whichever is more restrictive) of our
outstanding capital stock. We refer to this as the
Ownership Limit. Within certain limits, our charter
permits the Board of Directors to increase the Ownership Limit
with respect to any class or series of stock. The Board of
Directors, upon receipt of a ruling from the IRS, opinion of
counsel, or other evidence satisfactory to the Board of
Directors and upon 15 days prior written notice of a
proposed transfer which, if consummated, would result in the
transferee owning shares in excess of the Ownership Limit, and
upon such other conditions as the Board of Directors may direct,
may exempt a stockholder from the Ownership Limit. Absent any
such exemption, capital stock acquired or held in violation of
the Ownership Limit will be transferred by operation of law to
us as trustee for the benefit of the person to whom such capital
stock is ultimately transferred, and the stockholders
rights to distributions and to vote would terminate. Such
stockholder would be entitled to receive, from the proceeds of
any subsequent sale of the capital stock transferred to us as
trustee, the lesser of (i) the price paid for the capital
stock or, if the owner did not pay for the capital stock (for
example, in the case of a gift, devise of other such
transaction), the market price of the capital stock on the date
of the event causing the capital stock to be transferred to us
as trustee or (ii) the amount realized from such sale. A
transfer of capital stock may be void if it causes a person to
violate the Ownership Limit. The Ownership Limit could delay or
prevent a change in control of the Company and, therefore, could
adversely affect our stockholders ability to realize a
premium over the then-prevailing market price for their common
stock.
Conflicts
of Interest Could Influence the Companys
Decisions.
Certain Stockholders Could Exercise Influence in a Manner
Inconsistent With the Stockholders Best
Interests. As of December 31, 2009,
Mr. Samuel Zell and certain affiliated holders beneficially
owned approximately 11.9% of our outstanding common stock (in
each case including common stock issuable upon the exercise of
stock options and the exchange of Units). Mr. Zell is the
chairman of the Companys Board of Directors. Accordingly,
Mr. Zell has significant influence on our management and
operation. Such influence could be exercised in a manner that is
inconsistent with the interests of other stockholders.
Mr. Zell and His Affiliates Continue to be Involved in
Other Investment Activities. Mr. Zell and
his affiliates have a broad and varied range of investment
interests, including interests in other real estate investment
companies involved in other forms of housing, including
multifamily housing. Mr. Zell and his affiliates may
acquire interests in other companies. Mr. Zell may not be
able to control whether any such company competes with the
Company. Consequently, Mr. Zells continued
involvement in other investment activities could result in
competition to the Company as well as management decisions,
which might not reflect the interests of our stockholders.
Members of Management May Have a Conflict of Interest Over
Whether To Enforce Terms of Mr. McAdamss Employment
and Noncompetition Agreement. Mr. McAdams is
our President and has entered into an employment and
noncompetition agreement with us. For the most part these
restrictions apply to him both during his employment and for two
years thereafter. Mr. McAdams is also prohibited from
otherwise disrupting or interfering with our business through
the solicitation of our employees or clients or otherwise. To
the extent that we choose to enforce our rights under any of
these agreements, we may determine to pursue available remedies,
such as actions for damages or injunctive relief, less
vigorously than we otherwise might because of our desire to
maintain our ongoing relationship with Mr. McAdams.
Additionally, the non-competition provisions of his agreement,
despite being limited in scope and duration, could be difficult
to enforce, or may be subject to limited enforcement, should
litigation arise over it in the future. See Note 13 in the
Notes to Consolidated Financial Statements contained in this
Form 10-K.
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Risk of
Eminent Domain and Tenant Litigation.
We own Properties in certain areas of the country where real
estate values have increased faster than rental rates in our
Properties either because of locally imposed rent control or
long term leases. In such areas, we have learned that certain
local government entities have investigated the possibility of
seeking to take our Properties by eminent domain at values below
the value of the underlying land. While no such eminent domain
proceeding has been commenced, and we would exercise all of our
rights in connection with any such proceeding, successful
condemnation proceedings by municipalities could adversely
affect our financial condition. Moreover, certain of our
Properties located in California are subject to rent control
ordinances, some of which not only severely restrict ongoing
rent increases but also prohibit us from increasing rents upon
turnover. Such regulation allows customers to sell their homes
for a premium representing the value of the future discounted
rent-controlled rents. As part of our effort to realize the
value of our Properties subject to rent control, we have
initiated lawsuits against several municipalities in California.
In response to our efforts, tenant groups have filed lawsuits
against us seeking not only to limit rent increases, but to be
awarded large damage awards. If we are unsuccessful in our
efforts to challenge rent control ordinances, it is likely that
we will not be able to charge rents that reflect the intrinsic
value of the affected Properties. Finally, tenant groups in
non-rent controlled markets have also attempted to use
litigation as a means of protecting themselves from rent
increases reflecting the rental value of the affected
Properties. An unfavorable outcome in the tenant group lawsuits
could have an adverse impact on our financial condition.
Environmental
and Utility-Related Problems Are Possible and Can be
Costly.
Federal, state and local laws and regulations relating to the
protection of the environment may require a current or previous
owner or operator of real estate to investigate and clean up
hazardous or toxic substances or petroleum product releases at
such property. The owner or operator may have to pay a
governmental entity or third parties for property damage and for
investigation and
clean-up
costs incurred by such parties in connection with the
contamination. Such laws typically impose
clean-up
responsibility and liability without regard to whether the owner
or operator knew of or caused the presence of the contaminants.
Even if more than one person may have been responsible for the
contamination, each person covered by the environmental laws may
be held responsible for all of the
clean-up
costs incurred. In addition, third parties may sue the owner or
operator of a site for damages and costs resulting from
environmental contamination emanating from that site.
Environmental laws also govern the presence, maintenance and
removal of asbestos. Such laws require that owners or operators
of property containing asbestos properly manage and maintain the
asbestos, that they notify and train those who may come into
contact with asbestos and that they undertake special
precautions, including removal or other abatement, if asbestos
would be disturbed during renovation or demolition of a
building. Such laws may impose fines and penalties on real
property owners or operators who fail to comply with these
requirements and may allow third parties to seek recovery from
owners or operators for personal injury associated with exposure
to asbestos fibers.
Utility-related laws and regulations also govern the provision
of utility services and operations of water and wastewater
treatment facilities. Such laws regulate, for example, how and
to what extent owners or operators of property can charge
renters for provision of, for example, electricity, and whether
and to what extent such utility services can be charged
separately from the base rent. Such laws also regulate the
operations and performance of water treatment facilities and
wastewater treatment facilities. Such laws may impose fines and
penalties on real property owners or operators who fail to
comply with these requirements.
We Have a
Significant Concentration of Properties in Florida and
California, and Natural Disasters or Other Catastrophic Events
in These or Other States Could Adversely Affect the Value of Our
Properties and Our Cash Flow.
As of December 31, 2009, we owned or had an ownership
interest in 304 Properties located in 27 states and British
Columbia, including 86 Properties located in Florida and 48
Properties located in California. The occurrence of a natural
disaster or other catastrophic event in any of these areas may
cause a sudden decrease in the value of our Properties. While we
have obtained insurance policies providing certain coverage
against
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damage from fire, flood, property damage, earthquake, wind storm
and business interruption, these insurance policies contain
coverage limits, limits on covered property and various
deductible amounts that the Company must pay before insurance
proceeds are available. Such insurance may therefore be
insufficient to restore our economic position with respect to
damage or destruction to our Properties caused by such
occurrences. Moreover, each of these coverages must be renewed
every year and there is the possibility that all or some of the
coverages may not be available at a reasonable cost. In
addition, in the event of such natural disaster or other
catastrophic event, the process of obtaining reimbursement for
covered losses, including the lag between expenditures incurred
by us and reimbursements received from the insurance providers,
could adversely affect our economic performance.
Market
Interest Rates May Have an Effect on the Value of Our Common
Stock.
One of the factors that investors consider important in deciding
whether to buy or sell shares of a REIT is the distribution
rates with respect to such shares (as a percentage of the price
of such shares) relative to market interest rates. If market
interest rates go up, prospective purchasers of REIT shares may
expect a higher distribution rate. Higher interest rates would
not, however, result in more funds for us to distribute and, in
fact, would likely increase our borrowing costs and potentially
decrease funds available for distribution. Thus, higher market
interest rates could cause the market price of our publicly
traded securities to go down.
We Are
Dependent on External Sources of Capital.
To qualify as a REIT, we must distribute to our stockholders
each year at least 90% of our REIT taxable income (determined
without regard to the deduction for dividends paid and excluding
any net capital gain). In addition, we intend to distribute all
or substantially all of our net income so that we will generally
not be subject to U.S. federal income tax on our earnings.
Because of these distribution requirements, it is not likely
that we will be able to fund all future capital needs, including
for acquisitions, from income from operations. We therefore will
have to rely on third-party sources of debt and equity capital
financing, which may or may not be available on favorable terms
or at all. Our access to third-party sources of capital depends
on a number of things, including conditions in the capital
markets generally and the markets perception of our growth
potential and our current and potential future earnings. As a
result of the current credit crisis it may be difficult for us
to meet one or more of the requirements for qualification as a
REIT, including but not limited to our distribution requirement.
Moreover, additional equity offerings may result in substantial
dilution of stockholders interests, and additional debt
financing may substantially increase our leverage.
Our
Qualification as a REIT is Dependent on Compliance With U.S.
Federal Income Tax Requirements.
We believe we have been organized and operated in a manner so as
to qualify for taxation as a REIT, and we intend to continue to
operate so as to qualify as a REIT for U.S. federal income
tax purposes. Qualification as a REIT for U.S. federal
income tax purposes, however, is governed by highly technical
and complex provisions of the Code for which there are only
limited judicial or administrative interpretations. In
connection with certain transactions, we have received, and
relied, on advice of counsel as to the impact of such
transactions on our qualification as a REIT. Our qualification
as a REIT requires analysis of various facts and circumstances
that may not be entirely within our control, and we cannot
provide any assurance that the Internal Revenue Service (the
IRS) will agree with our analysis or the analysis of
our tax counsel. In particular, the proper federal income tax
treatment of right-to-use membership contracts is uncertain and
there is no assurance that the IRS will agree with the
Companys treatment of such contracts. If the IRS were to
disagree with our analysis or our tax counsels analysis of
facts and circumstances, our ability to qualify as a REIT may be
adversely affected. These matters can affect our qualification
as a REIT. In addition, legislation, new regulations,
administrative interpretations or court decisions might
significantly change the tax laws with respect to the
requirements for qualification as a REIT or the
U.S. federal income tax consequences of qualification as a
REIT.
If, with respect to any taxable year, we fail to maintain our
qualification as a REIT (and specified relief provisions under
the Code were not applicable to such disqualification), we could
not deduct distributions to stockholders in computing our net
taxable income and we would be subject to U.S. federal
income tax on our net
17
taxable income at regular corporate rates. Any U.S. federal
income tax payable could include applicable alternative minimum
tax. If we had to pay U.S. federal income tax, the amount
of money available to distribute to stockholders and pay
indebtedness would be reduced for the year or years involved,
and we would no longer be required to distribute money to
stockholders. In addition, we would also be disqualified from
treatment as a REIT for the four taxable years following the
year during which qualification was lost, unless we were
entitled to relief under the relevant statutory provisions.
Although we currently intend to operate in a manner designed to
allow us to qualify as a REIT, future economic, market, legal,
tax or other considerations may cause us to revoke the REIT
election.
Interpretation
of and Changes to Accounting Policies and Standards Could
Adversely Affect Our Reported Financial Results.
Our Accounting Policies and Methods Are the Basis on Which We
Report Our Financial Condition and Results of Operations, and
They May Require Management to Make Estimates About Matters that
Are Inherently Uncertain. Our accounting policies
and methods are fundamental to the manner in which we record and
report our financial condition and results of operations.
Management must exercise judgment in selecting and applying many
of these accounting policies and methods in order to ensure that
they comply with generally accepted accounting principles and
reflect managements judgment as to the most appropriate
manner in which to record and report our financial condition and
results of operations. In some cases, management must select the
accounting policy or method to apply from two or more
alternatives, any of which might be reasonable under the
circumstances yet might result in reporting materially different
amounts than would have been reported under a different
alternative.
Changes in Accounting Standards Could Adversely Affect Our
Reported Financial Results. The bodies that set
accounting standards for public companies, including the
Financial Accounting Standards Board (FASB), the SEC
and others, periodically change or revise existing
interpretations of the accounting and reporting standards that
govern the way that we report our financial condition and
results of operations. These changes can be difficult to predict
and can materially impact our reported financial results. In
some cases, we could be required to apply a new or revised
accounting standard, or a revised interpretation of an
accounting standard, retroactively, which could have a negative
impact on reported results or result in the restatement of our
financial statements for prior periods.
The FASB sets generally accepted accounting principles
(GAAP) that we follow to ensure we consistently
report our financial condition, results of operations and cash
flows. References to GAAP issued by the FASB in this
Form 10-K
are to the FASB Accounting Standards Codification (the
Codification). The FASB finalized the Codification
effective for periods ending on or after September 15,
2009. The Codification does not change how the Company accounts
for its transactions or the nature of the related disclosures
made.
Our Accounting Policies for the Sale of Right-To-Use
Contracts Will Result in a Substantial Deferral of Revenue in
our Financial Results. Beginning August 14,
2008, the Company began selling right-to-use contracts.
Customers who purchase right-to-use contracts are generally
required to make an upfront nonrefundable payment to the
Company. The Company incurs significant selling and marketing
expenses to originate the right-to-use contracts, and the
majority of expenses must be expensed in the period incurred,
while the related sales revenues are generally deferred and
recognized over the expected life of the contract which is
estimated based upon historical attrition rates. The expected
life of a right-to-use contract is currently estimated to be
between one and 31 years. As a result, the Company may
incur a loss from the sale of right-to-use contracts, build up a
substantial deferred sales revenue liability balance, and
recognize substantial non-cash revenue in years subsequent to
the original sale. This accounting may make it difficult for
investors to interpret the financial results from the sale of
right-to-use contracts. The Company submitted correspondence to
the Office of the Chief Accountant at the SEC describing the
right-to-use contracts and subsequently discussed the revenue
recognition policy with respect to the contracts with the SEC.
The SEC does not object to the Companys application of the
Codification Topic Revenue Recognition (FASB
ASC 605) (prior authoritative guidance: Staff Accounting
Bulletin 104, Revenue Recognition in Consolidated
Financial Statements, Corrected) with respect to the
deferral of the upfront nonrefundable payments received from the
sale of right-to-use contracts.
18
See Note 2 (n) in the Notes to Consolidated Financial
Statements contained in this
Form 10-K
for the Companys revenue recognition policy.
|
|
Item 1B.
|
Unresolved
Staff Comments
|
On December 23, 2009, the SEC sent us a letter with
comments on our Proxy Statement and
Form 10-K
for the year ended December 31, 2008. The comments relate
to income statement presentation, segment reporting, the
transfer of inventory homes to fixed assets, revenue recognition
policies related to right-to-use contracts, footnote disclosure
of the Privileged Access acquisition, footnote disclosure of
joint venture investments and disclosure of senior management
bonus targets. We responded to the SECs letter on
January 25, 2010 and as of February 24, 2010 we have
not received a response from the SEC.
General
Our Properties provide attractive amenities and common
facilities that create a comfortable and attractive home for our
customers, with most offering a clubhouse, a swimming pool,
laundry facilities and cable television service. Many also offer
additional amenities such as sauna/whirlpool spas, golf courses,
tennis, shuffleboard and basketball courts, exercise rooms and
various social activities such as concerts. Since most of our
customers generally rent our sites on a long-term basis, it is
their responsibility to maintain their homes and the surrounding
area. It is our role to ensure that customers comply with our
Property policies and to provide maintenance of the common
areas, facilities and amenities. We hold periodic meetings with
our Property management personnel for training and
implementation of our strategies. The Properties historically
have had, and we believe they will continue to have, low
turnover and high occupancy rates.
Property
Portfolio
As of December 31, 2009, we owned or had an ownership
interest in a portfolio of 304 Properties located throughout the
United States and British Columbia containing 110,575
residential sites.
The distribution of our Properties throughout the United States
reflects our belief that geographic diversification helps
insulate the portfolio from regional economic influences. We
intend to target new acquisitions in or near markets where our
Properties are located and will also consider acquisitions of
Properties outside such markets. Refer to Note 2
(c) of the Notes to Consolidated Financial Statements
contained in this
Form 10-K.
Bay Indies located in Venice, Florida and Viewpoint located in
Mesa, Arizona, our two largest properties as determined by
property operating revenues, accounted for approximately 2.0%
and 1.9%, respectively, of our total property operating revenues
for the year ended December 31, 2009.
The following table sets forth certain information relating to
the Properties we owned as of December 31, 2009,
categorized by our major markets (excluding Properties owned
through joint ventures).
|
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|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total
|
|
|
Number
|
|
|
Annual
|
|
|
Annual
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Develo-
|
|
|
|
|
|
Number
|
|
|
of Annual
|
|
|
Site
|
|
|
Site
|
|
|
Annual
|
|
|
Annual
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
pable
|
|
|
|
|
|
of Sites
|
|
|
Sites
|
|
|
Occupancy
|
|
|
Occupancy
|
|
|
Rent
|
|
|
Rent
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Acres
|
|
|
Acres
|
|
|
Expansion
|
|
|
as of
|
|
|
as of
|
|
|
as of
|
|
|
as of
|
|
|
as of
|
|
|
as of
|
|
Property
|
|
Address
|
|
City
|
|
State
|
|
ZIP
|
|
|
MH/RV
|
|
|
(c)
|
|
|
(d)
|
|
|
Sites(e)
|
|
|
12/31/09
|
|
|
12/31/09
|
|
|
12/31/09
|
|
|
12/31/08
|
|
|
12/31/09
|
|
|
12/31/08
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Florida
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
East Coast:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Sunshine Key
|
|
38801 Overseas Hwy
|
|
Big Pine Key
|
|
FL
|
|
|
33043
|
|
|
|
RV
|
|
|
|
54
|
|
|
|
|
|
|
|
|
|
|
|
409
|
|
|
|
55
|
|
|
|
100.0
|
%
|
|
|
100.0
|
%
|
|
$
|
9,128
|
|
|
$
|
10,418
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Carriage Cove
|
|
Five Carriage Cove Way
|
|
Daytona Beach
|
|
FL
|
|
|
32119
|
|
|
|
MH
|
|
|
|
59
|
|
|
|
|
|
|
|
|
|
|
|
418
|
|
|
|
418
|
|
|
|
90.2
|
%
|
|
|
91.6
|
%
|
|
$
|
5,604
|
|
|
$
|
5,572
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Coquina Crossing
|
|
4536 Coquina Crossing Dr.
|
|
Elkton
|
|
FL
|
|
|
32033
|
|
|
|
MH
|
|
|
|
316
|
|
|
|
26
|
|
|
|
145
|
|
|
|
563
|
|
|
|
563
|
|
|
|
92.9
|
%
|
|
|
91.1
|
%
|
|
$
|
5,459
|
|
|
$
|
5,193
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Bulow Plantation
|
|
3165 Old Kings Road South
|
|
Flagler Beach
|
|
FL
|
|
|
32136
|
|
|
|
MH
|
|
|
|
323
|
|
|
|
181
|
|
|
|
722
|
|
|
|
276
|
|
|
|
276
|
|
|
|
98.2
|
%
|
|
|
98.6
|
%
|
|
$
|
5,734
|
|
|
$
|
5,326
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Bulow RV
|
|
3345 Old Kings Road South
|
|
Flagler Beach
|
|
FL
|
|
|
32136
|
|
|
|
RV
|
|
|
|
(f
|
)
|
|
|
|
|
|
|
|
|
|
|
352
|
|
|
|
79
|
|
|
|
100.0
|
%
|
|
|
100.0
|
%
|
|
$
|
5,109
|
|
|
$
|
4,944
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Carefree Cove
|
|
3273 N.W. 37th St
|
|
Ft. Lauderdale
|
|
FL
|
|
|
33309
|
|
|
|
MH
|
|
|
|
20
|
|
|
|
|
|
|
|
|
|
|
|
164
|
|
|
|
164
|
|
|
|
93.3
|
%
|
|
|
93.3
|
%
|
|
$
|
6,470
|
|
|
$
|
6,328
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Park City West
|
|
10550 W. State Road 84
|
|
Ft. Lauderdale
|
|
FL
|
|
|
33324
|
|
|
|
MH
|
|
|
|
60
|
|
|
|
|
|
|
|
|
|
|
|
363
|
|
|
|
363
|
|
|
|
89.5
|
%
|
|
|
89.3
|
%
|
|
$
|
5,882
|
|
|
$
|
5,734
|
|
19
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total
|
|
|
Number
|
|
|
Annual
|
|
|
Annual
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Develo-
|
|
|
|
|
|
Number
|
|
|
of Annual
|
|
|
Site
|
|
|
Site
|
|
|
Annual
|
|
|
Annual
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
pable
|
|
|
|
|
|
of Sites
|
|
|
Sites
|
|
|
Occupancy
|
|
|
Occupancy
|
|
|
Rent
|
|
|
Rent
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Acres
|
|
|
Acres
|
|
|
Expansion
|
|
|
as of
|
|
|
as of
|
|
|
as of
|
|
|
as of
|
|
|
as of
|
|
|
as of
|
|
Property
|
|
Address
|
|
City
|
|
State
|
|
ZIP
|
|
|
MH/RV
|
|
|
(c)
|
|
|
(d)
|
|
|
Sites(e)
|
|
|
12/31/09
|
|
|
12/31/09
|
|
|
12/31/09
|
|
|
12/31/08
|
|
|
12/31/09
|
|
|
12/31/08
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Sunshine Holiday
|
|
2802 W. Oakland Park Blvd.
|
|
Ft. Lauderdale
|
|
FL
|
|
|
33311
|
|
|
|
MH
|
|
|
|
32
|
|
|
|
|
|
|
|
|
|
|
|
274
|
|
|
|
274
|
|
|
|
82.8
|
%
|
|
|
88.1
|
%
|
|
$
|
6,195
|
|
|
$
|
5,835
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Sunshine Holiday RV
|
|
2802 W. Oakland Park Blvd.
|
|
Ft. Lauderdale
|
|
FL
|
|
|
33311
|
|
|
|
RV
|
|
|
|
(f
|
)
|
|
|
|
|
|
|
|
|
|
|
131
|
|
|
|
45
|
|
|
|
100.0
|
%
|
|
|
100.0
|
%
|
|
$
|
5,658
|
|
|
$
|
5,515
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Maralago Cay
|
|
6280 S. Ash Lane
|
|
Lantana
|
|
FL
|
|
|
33462
|
|
|
|
MH
|
|
|
|
102
|
|
|
|
5
|
|
|
|
|
|
|
|
603
|
|
|
|
603
|
|
|
|
90.9
|
%
|
|
|
90.7
|
%
|
|
$
|
7,347
|
|
|
$
|
7,001
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Coral Cay
|
|
2801 NW 62nd Avenue
|
|
Margate
|
|
FL
|
|
|
33063
|
|
|
|
MH
|
|
|
|
121
|
|
|
|
|
|
|
|
|
|
|
|
819
|
|
|
|
819
|
|
|
|
86.7
|
%
|
|
|
84.7
|
%
|
|
$
|
6,094
|
|
|
$
|
6,028
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Lakewood Village
|
|
3171 Hanson Avenue
|
|
Melbourne
|
|
FL
|
|
|
32901
|
|
|
|
MH
|
|
|
|
68
|
|
|
|
|
|
|
|
|
|
|
|
349
|
|
|
|
349
|
|
|
|
87.7
|
%
|
|
|
87.1
|
%
|
|
$
|
5,892
|
|
|
$
|
5,664
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Holiday Village
|
|
1335 Fleming Ave Box 228
|
|
Ormond Beach
|
|
FL
|
|
|
32174
|
|
|
|
MH
|
|
|
|
43
|
|
|
|
|
|
|
|
|
|
|
|
301
|
|
|
|
301
|
|
|
|
87.7
|
%
|
|
|
85.7
|
%
|
|
$
|
4,866
|
|
|
$
|
4,814
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Sunshine Holiday
|
|
1701 North US Hwy 1
|
|
Ormond Beach
|
|
FL
|
|
|
32174
|
|
|
|
RV
|
|
|
|
69
|
|
|
|
|
|
|
|
|
|
|
|
349
|
|
|
|
132
|
|
|
|
100.0
|
%
|
|
|
100.0
|
%
|
|
$
|
4,590
|
|
|
$
|
4,323
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
The Meadows
|
|
2555 PGA Boulevard
|
|
Palm Beach Gardens
|
|
FL
|
|
|
33410
|
|
|
|
MH
|
|
|
|
55
|
|
|
|
|
|
|
|
|
|
|
|
379
|
|
|
|
379
|
|
|
|
84.4
|
%
|
|
|
85.2
|
%
|
|
$
|
6,439
|
|
|
$
|
6,263
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Breezy Hill RV
|
|
800 NE 48th Street
|
|
Pompano Beach
|
|
FL
|
|
|
33064
|
|
|
|
RV
|
|
|
|
52
|
|
|
|
|
|
|
|
|
|
|
|
762
|
|
|
|
355
|
|
|
|
100.0
|
%
|
|
|
100.0
|
%
|
|
$
|
5,999
|
|
|
$
|
5,810
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Highland Wood RV
|
|
900 NE 48th street
|
|
Pompano Beach
|
|
FL
|
|
|
33064
|
|
|
|
RV
|
|
|
|
15
|
|
|
|
|
|
|
|
|
|
|
|
148
|
|
|
|
13
|
|
|
|
100.0
|
%
|
|
|
100.0
|
%
|
|
$
|
5,184
|
|
|
$
|
5,075
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Lighthouse Pointe
|
|
155 Spring Drive
|
|
Port Orange
|
|
FL
|
|
|
32129
|
|
|
|
MH
|
|
|
|
64
|
|
|
|
|
|
|
|
|
|
|
|
433
|
|
|
|
433
|
|
|
|
85.7
|
%
|
|
|
86.6
|
%
|
|
$
|
4,932
|
|
|
$
|
4,708
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Pickwick
|
|
4500 S. Clyde Morris Blvd
|
|
Port Orange
|
|
FL
|
|
|
32119
|
|
|
|
MH
|
|
|
|
84
|
|
|
|
4
|
|
|
|
|
|
|
|
432
|
|
|
|
432
|
|
|
|
100.0
|
%
|
|
|
100.0
|
%
|
|
$
|
5,111
|
|
|
$
|
4,923
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Indian Oaks
|
|
780 Barnes Boulevard
|
|
Rockledge
|
|
FL
|
|
|
32955
|
|
|
|
MH
|
|
|
|
38
|
|
|
|
|
|
|
|
|
|
|
|
208
|
|
|
|
208
|
|
|
|
100.0
|
%
|
|
|
100.0
|
%
|
|
$
|
4,411
|
|
|
$
|
4,137
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Countryside
|
|
8775 20th Street
|
|
Vero Beach
|
|
FL
|
|
|
32966
|
|
|
|
MH
|
|
|
|
125
|
|
|
|
|
|
|
|
|
|
|
|
644
|
|
|
|
644
|
|
|
|
89.8
|
%
|
|
|
89.6
|
%
|
|
$
|
5,646
|
|
|
$
|
5,395
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Heritage Plantation
|
|
1101 Ranch Road
|
|
Vero Beach
|
|
FL
|
|
|
32966
|
|
|
|
MH
|
|
|
|
64
|
|
|
|
|
|
|
|
|
|
|
|
435
|
|
|
|
435
|
|
|
|
83.7
|
%
|
|
|
83.4
|
%
|
|
$
|
5,550
|
|
|
$
|
5,312
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Holiday Village
|
|
1000 S.W. 27th Avenue
|
|
Vero Beach
|
|
FL
|
|
|
32968
|
|
|
|
MH
|
|
|
|
20
|
|
|
|
|
|
|
|
|
|
|
|
128
|
|
|
|
128
|
|
|
|
17.2
|
%
|
|
|
28.9
|
%
|
|
$
|
3,959
|
|
|
$
|
4,239
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Sunshine Travel
|
|
9455 108th Avenue
|
|
Vero Beach
|
|
FL
|
|
|
32967
|
|
|
|
RV
|
|
|
|
30
|
|
|
|
6
|
|
|
|
48
|
|
|
|
300
|
|
|
|
159
|
|
|
|
100.0
|
%
|
|
|
100.0
|
%
|
|
$
|
4,533
|
|
|
$
|
4,200
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Central:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Clerbrook
|
|
20005 U.S. Highway 27
|
|
Clermont
|
|
FL
|
|
|
34711
|
|
|
|
RV
|
|
|
|
288
|
|
|
|
|
|
|
|
|
|
|
|
1,255
|
|
|
|
461
|
|
|
|
100.0
|
%
|
|
|
100.0
|
%
|
|
$
|
4,323
|
|
|
$
|
4,251
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Lake Magic
|
|
9600 Hwy 192 West
|
|
Clermont
|
|
FL
|
|
|
34714
|
|
|
|
RV
|
|
|
|
69
|
|
|
|
|
|
|
|
|
|
|
|
471
|
|
|
|
126
|
|
|
|
100.0
|
%
|
|
|
100.0
|
%
|
|
$
|
4,303
|
|
|
$
|
4,018
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Orlando
|
|
2110 US Highway 27 S
|
|
Clermont
|
|
FL
|
|
|
34714
|
|
|
|
RV
|
|
|
|
270
|
|
|
|
30
|
|
|
|
136
|
|
|
|
850
|
|
|
|
72
|
|
|
|
100.0
|
%
|
|
|
|
(b)
|
|
$
|
3,290
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Southern Palms
|
|
One Avocado Lane
|
|
Eustis
|
|
FL
|
|
|
32726
|
|
|
|
RV
|
|
|
|
120
|
|
|
|
|
|
|
|
|
|
|
|
950
|
|
|
|
362
|
|
|
|
100.0
|
%
|
|
|
100.0
|
%
|
|
$
|
4,087
|
|
|
$
|
4,016
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Grand Island
|
|
13310 Sea Breeze Lane
|
|
Grand Island
|
|
FL
|
|
|
32735
|
|
|
|
MH
|
|
|
|
35
|
|
|
|
|
|
|
|
|
|
|
|
362
|
|
|
|
362
|
|
|
|
58.8
|
%
|
|
|
58.8
|
%
|
|
$
|
5,169
|
|
|
$
|
4,903
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Sherwood Forest
|
|
5302 W. Irlo Bronson Hwy
|
|
Kissimmee
|
|
FL
|
|
|
34746
|
|
|
|
MH
|
|
|
|
124
|
|
|
|
|
|
|
|
|
|
|
|
769
|
|
|
|
769
|
|
|
|
93.4
|
%
|
|
|
94.3
|
%
|
|
$
|
5,119
|
|
|
$
|
4,847
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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|
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|
|
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|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Sherwood Forest RV
|
|
5300 W. Irlo Bronson Hwy
|
|
Kissimmee
|
|
FL
|
|
|
34746
|
|
|
|
RV
|
|
|
|
107
|
|
|
|
43
|
|
|
|
149
|
|
|
|
513
|
|
|
|
149
|
|
|
|
100.0
|
%
|
|
|
100.0
|
%
|
|
$
|
4,907
|
|
|
$
|
4,692
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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|
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|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Tropical Palms(g)
|
|
2650 Holiday Trail
|
|
Kissimmee
|
|
FL
|
|
|
34746
|
|
|
|
RV
|
|
|
|
59
|
|
|
|
|
|
|
|
|
|
|
|
541
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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|
|
|
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|
|
|
|
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|
|
|
|
|
|
|
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|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Coachwood Colony
|
|
2610 Dogwood Place
|
|
Leesburg
|
|
FL
|
|
|
34748
|
|
|
|
MH
|
|
|
|
29
|
|
|
|
|
|
|
|
|
|
|
|
202
|
|
|
|
202
|
|
|
|
87.6
|
%
|
|
|
90.1
|
%
|
|
$
|
3,882
|
|
|
$
|
3,879
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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|
|
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|
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|
|
|
|
|
|
|
|
|
|
Mid-Florida Lakes
|
|
199 Forest Dr.
|
|
Leesburg
|
|
FL
|
|
|
34788
|
|
|
|
MH
|
|
|
|
290
|
|
|
|
|
|
|
|
|
|
|
|
1,225
|
|
|
|
1,225
|
|
|
|
80.7
|
%
|
|
|
80.7
|
%
|
|
$
|
5,616
|
|
|
$
|
5,406
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Southernaire
|
|
1700 Sanford Road
|
|
Mt. Dora
|
|
FL
|
|
|
32757
|
|
|
|
MH
|
|
|
|
14
|
|
|
|
|
|
|
|
|
|
|
|
114
|
|
|
|
114
|
|
|
|
80.7
|
%
|
|
|
84.3
|
%
|
|
$
|
3,616
|
|
|
$
|
4,151
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Oak Bend
|
|
10620 S.W. 27th Ave.
|
|
Ocala
|
|
FL
|
|
|
34476
|
|
|
|
MH
|
|
|
|
62
|
|
|
|
3
|
|
|
|
|
|
|
|
262
|
|
|
|
262
|
|
|
|
89.3
|
%
|
|
|
89.3
|
%
|
|
$
|
4,620
|
|
|
$
|
4,330
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Villas at Spanish Oaks
|
|
3150 N.E. 36th Avenue
|
|
Ocala
|
|
FL
|
|
|
34479
|
|
|
|
MH
|
|
|
|
69
|
|
|
|
|
|
|
|
|
|
|
|
459
|
|
|
|
459
|
|
|
|
87.4
|
%
|
|
|
86.5
|
%
|
|
$
|
4,588
|
|
|
$
|
4,373
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Flags RV Resort
|
|
1755 E State Rd 44
|
|
Wildwood
|
|
FL
|
|
|
34785
|
|
|
|
RV
|
|
|
|
23
|
|
|
|
|
|
|
|
|
|
|
|
221
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Winter Garden
|
|
13905 W. Colonial Dr.
|
|
Winter Garden
|
|
FL
|
|
|
34787
|
|
|
|
RV
|
|
|
|
27
|
|
|
|
|
|
|
|
|
|
|
|
350
|
|
|
|
142
|
|
|
|
100.0
|
%
|
|
|
100.0
|
%
|
|
$
|
4,183
|
|
|
$
|
4,074
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Gulf Coast (Tampa/Naples):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Tobys RV
|
|
3550 N.E. Hwy 70
|
|
Arcadia
|
|
FL
|
|
|
34266
|
|
|
|
RV
|
|
|
|
44
|
|
|
|
|
|
|
|
|
|
|
|
379
|
|
|
|
274
|
|
|
|
100.0
|
%
|
|
|
100.0
|
%
|
|
$
|
2,487
|
|
|
$
|
2,543
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Manatee
|
|
800 Kay Road NE
|
|
Bradenton
|
|
FL
|
|
|
34212
|
|
|
|
RV
|
|
|
|
42
|
|
|
|
|
|
|
|
|
|
|
|
415
|
|
|
|
216
|
|
|
|
100.0
|
%
|
|
|
100.0
|
%
|
|
$
|
4,635
|
|
|
$
|
4,806
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Windmill Manor
|
|
5320 53rd Ave. East
|
|
Bradenton
|
|
FL
|
|
|
34203
|
|
|
|
MH
|
|
|
|
49
|
|
|
|
|
|
|
|
|
|
|
|
292
|
|
|
|
292
|
|
|
|
95.9
|
%
|
|
|
95.9
|
%
|
|
$
|
5,426
|
|
|
$
|
5,417
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Glen Ellen
|
|
2882 Gulf to Bay Blvd
|
|
Clearwater
|
|
FL
|
|
|
33759
|
|
|
|
MH
|
|
|
|
12
|
|
|
|
|
|
|
|
|
|
|
|
106
|
|
|
|
106
|
|
|
|
86.8
|
%
|
|
|
90.6
|
%
|
|
$
|
4,907
|
|
|
$
|
4,722
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Hillcrest
|
|
2346 Druid Road East
|
|
Clearwater
|
|
FL
|
|
|
33764
|
|
|
|
MH
|
|
|
|
25
|
|
|
|
|
|
|
|
|
|
|
|
278
|
|
|
|
278
|
|
|
|
92.1
|
%
|
|
|
93.9
|
%
|
|
$
|
4,782
|
|
|
$
|
4,701
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Holiday Ranch
|
|
4300 East Bay Drive
|
|
Clearwater
|
|
FL
|
|
|
33764
|
|
|
|
MH
|
|
|
|
12
|
|
|
|
|
|
|
|
|
|
|
|
150
|
|
|
|
150
|
|
|
|
86.0
|
%
|
|
|
89.3
|
%
|
|
$
|
4,365
|
|
|
$
|
4,229
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Silk Oak
|
|
28488 US Highway 19 N
|
|
Clearwater
|
|
FL
|
|
|
33761
|
|
|
|
MH
|
|
|
|
19
|
|
|
|
|
|
|
|
|
|
|
|
181
|
|
|
|
181
|
|
|
|
89.5
|
%
|
|
|
90.1
|
%
|
|
$
|
4,899
|
|
|
$
|
4,728
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Crystal Isles
|
|
11419 W. Ft. Island Drive
|
|
Crystal River
|
|
FL
|
|
|
34429
|
|
|
|
RV
|
|
|
|
32
|
|
|
|
|
|
|
|
|
|
|
|
260
|
|
|
|
46
|
|
|
|
100.0
|
%
|
|
|
100.0
|
%
|
|
$
|
4,996
|
|
|
$
|
5,154
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Lake Haven
|
|
1415 Main Street
|
|
Dunedin
|
|
FL
|
|
|
34698
|
|
|
|
MH
|
|
|
|
48
|
|
|
|
|
|
|
|
|
|
|
|
379
|
|
|
|
379
|
|
|
|
88.4
|
%
|
|
|
90.8
|
%
|
|
$
|
6,584
|
|
|
$
|
6,482
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Fort Myers Beach Resort
|
|
16299 San Carlos Blvd.
|
|
Fort Myers
|
|
FL
|
|
|
33908
|
|
|
|
RV
|
|
|
|
31
|
|
|
|
|
|
|
|
|
|
|
|
306
|
|
|
|
88
|
|
|
|
100.0
|
%
|
|
|
100.0
|
%
|
|
$
|
5,728
|
|
|
$
|
5,689
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Gulf Air Resort
|
|
17279 San Carlos Blvd. SW
|
|
Fort Myers
|
|
FL
|
|
|
33931
|
|
|
|
RV
|
|
|
|
25
|
|
|
|
|
|
|
|
|
|
|
|
246
|
|
|
|
154
|
|
|
|
100.0
|
%
|
|
|
100.0
|
%
|
|
$
|
4,849
|
|
|
$
|
4,775
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Barrington Hills
|
|
9412 New York Avenue
|
|
Hudson
|
|
FL
|
|
|
34667
|
|
|
|
RV
|
|
|
|
28
|
|
|
|
|
|
|
|
|
|
|
|
392
|
|
|
|
261
|
|
|
|
100.0
|
%
|
|
|
100.0
|
%
|
|
$
|
3,046
|
|
|
$
|
2,920
|
|
20
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total
|
|
|
Number
|
|
|
Annual
|
|
|
Annual
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Develo-
|
|
|
|
|
|
Number
|
|
|
of Annual
|
|
|
Site
|
|
|
Site
|
|
|
Annual
|
|
|
Annual
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
pable
|
|
|
|
|
|
of Sites
|
|
|
Sites
|
|
|
Occupancy
|
|
|
Occupancy
|
|
|
Rent
|
|
|
Rent
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Acres
|
|
|
Acres
|
|
|
Expansion
|
|
|
as of
|
|
|
as of
|
|
|
as of
|
|
|
as of
|
|
|
as of
|
|
|
as of
|
|
Property
|
|
Address
|
|
City
|
|
State
|
|
ZIP
|
|
|
MH/RV
|
|
|
(c)
|
|
|
(d)
|
|
|
Sites(e)
|
|
|
12/31/09
|
|
|
12/31/09
|
|
|
12/31/09
|
|
|
12/31/08
|
|
|
12/31/09
|
|
|
12/31/08
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Down Yonder
|
|
7001 N. 142nd Avenue
|
|
Largo
|
|
FL
|
|
|
33771
|
|
|
|
MH
|
|
|
|
50
|
|
|
|
|
|
|
|
|
|
|
|
361
|
|
|
|
361
|
|
|
|
97.5
|
%
|
|
|
98.9
|
%
|
|
$
|
6,351
|
|
|
$
|
6,113
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
East Bay Oaks
|
|
601 Starkey Road
|
|
Largo
|
|
FL
|
|
|
33771
|
|
|
|
MH
|
|
|
|
40
|
|
|
|
|
|
|
|
|
|
|
|
328
|
|
|
|
328
|
|
|
|
96.3
|
%
|
|
|
97.3
|
%
|
|
$
|
4,795
|
|
|
$
|
4,762
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Eldorado Village
|
|
2505 East Bay Drive
|
|
Largo
|
|
FL
|
|
|
33771
|
|
|
|
MH
|
|
|
|
25
|
|
|
|
|
|
|
|
|
|
|
|
227
|
|
|
|
227
|
|
|
|
96.9
|
%
|
|
|
97.4
|
%
|
|
$
|
4,872
|
|
|
$
|
4,661
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Shangri La
|
|
249 Jasper Street N.W.
|
|
Largo
|
|
FL
|
|
|
33770
|
|
|
|
MH
|
|
|
|
14
|
|
|
|
|
|
|
|
|
|
|
|
160
|
|
|
|
160
|
|
|
|
81.3
|
%
|
|
|
89.4
|
%
|
|
$
|
4,825
|
|
|
$
|
5,263
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Vacation Village
|
|
6900 Ulmerton Road
|
|
Largo
|
|
FL
|
|
|
33771
|
|
|
|
RV
|
|
|
|
29
|
|
|
|
|
|
|
|
|
|
|
|
293
|
|
|
|
174
|
|
|
|
100.0
|
%
|
|
|
100.0
|
%
|
|
$
|
4,230
|
|
|
$
|
4,173
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Pasco
|
|
21632 State Road 54
|
|
Lutz
|
|
FL
|
|
|
33549
|
|
|
|
RV
|
|
|
|
27
|
|
|
|
|
|
|
|
|
|
|
|
255
|
|
|
|
176
|
|
|
|
100.0
|
%
|
|
|
100.0
|
%
|
|
$
|
3,575
|
|
|
$
|
3,522
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Buccaneer
|
|
2210 N. Tamiami Trail N.E.
|
|
N. Ft. Myers
|
|
FL
|
|
|
33903
|
|
|
|
MH
|
|
|
|
223
|
|
|
|
39
|
|
|
|
162
|
|
|
|
971
|
|
|
|
971
|
|
|
|
98.5
|
%
|
|
|
98.5
|
%
|
|
$
|
5,897
|
|
|
$
|
5,805
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Island Vista MHC
|
|
3000 N. Tamiami Trail
|
|
N. Ft. Myers
|
|
FL
|
|
|
33903
|
|
|
|
MH
|
|
|
|
121
|
|
|
|
|
|
|
|
|
|
|
|
616
|
|
|
|
616
|
|
|
|
82.1
|
%
|
|
|
84.7
|
%
|
|
$
|
3,908
|
|
|
$
|
4,049
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Lake Fairways
|
|
19371 Tamiami Trail
|
|
N. Ft. Myers
|
|
FL
|
|
|
33903
|
|
|
|
MH
|
|
|
|
259
|
|
|
|
|
|
|
|
|
|
|
|
896
|
|
|
|
896
|
|
|
|
99.7
|
%
|
|
|
99.4
|
%
|
|
$
|
6,087
|
|
|
$
|
5,819
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Pine Lakes
|
|
10200 Pine Lakes Blvd.
|
|
N. Ft. Myers
|
|
FL
|
|
|
33903
|
|
|
|
MH
|
|
|
|
314
|
|
|
|
|
|
|
|
|
|
|
|
584
|
|
|
|
584
|
|
|
|
100.0
|
%
|
|
|
100.0
|
%
|
|
$
|
7,233
|
|
|
$
|
6,781
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Pioneer Village
|
|
7974 Samville Rd.
|
|
N. Ft. Myers
|
|
FL
|
|
|
33917
|
|
|
|
RV
|
|
|
|
90
|
|
|
|
|
|
|
|
|
|
|
|
733
|
|
|
|
381
|
|
|
|
100.0
|
%
|
|
|
100.0
|
%
|
|
$
|
4,077
|
|
|
$
|
3,890
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
The Heritage
|
|
3000 Heritage Lakes Blvd.
|
|
N. Ft. Myers
|
|
FL
|
|
|
33917
|
|
|
|
MH
|
|
|
|
214
|
|
|
|
22
|
|
|
|
132
|
|
|
|
453
|
|
|
|
453
|
|
|
|
98.0
|
%
|
|
|
98.7
|
%
|
|
$
|
5,362
|
|
|
$
|
5,084
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Windmill Village
|
|
16131 N. Cleveland Ave.
|
|
N. Ft. Myers
|
|
FL
|
|
|
33903
|
|
|
|
MH
|
|
|
|
69
|
|
|
|
|
|
|
|
|
|
|
|
491
|
|
|
|
491
|
|
|
|
88.6
|
%
|
|
|
91.6
|
%
|
|
$
|
4,906
|
|
|
$
|
4,723
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Country Place
|
|
2601 Country Place Blvd.
|
|
New Port Richey
|
|
FL
|
|
|
34655
|
|
|
|
MH
|
|
|
|
82
|
|
|
|
|
|
|
|
|
|
|
|
515
|
|
|
|
515
|
|
|
|
99.6
|
%
|
|
|
99.8
|
%
|
|
$
|
5,053
|
|
|
$
|
4,905
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Hacienda Village
|
|
7107 Gibraltar Ave
|
|
New Port Richey
|
|
FL
|
|
|
34653
|
|
|
|
MH
|
|
|
|
66
|
|
|
|
|
|
|
|
|
|
|
|
505
|
|
|
|
505
|
|
|
|
96.4
|
%
|
|
|
97.8
|
%
|
|
$
|
5,058
|
|
|
$
|
4,773
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Harbor View
|
|
6617 Louisna Ave
|
|
New Port Richey
|
|
FL
|
|
|
34653
|
|
|
|
MH
|
|
|
|
69
|
|
|
|
|
|
|
|
|
|
|
|
471
|
|
|
|
471
|
|
|
|
98.1
|
%
|
|
|
98.5
|
%
|
|
$
|
4,255
|
|
|
$
|
3,993
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Bay Lake Estates
|
|
1200 East Colonia Lane
|
|
Nokomis
|
|
FL
|
|
|
34275
|
|
|
|
MH
|
|
|
|
34
|
|
|
|
|
|
|
|
|
|
|
|
228
|
|
|
|
228
|
|
|
|
94.7
|
%
|
|
|
93.0
|
%
|
|
$
|
5,955
|
|
|
$
|
6,150
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Royal Coachman
|
|
1070 Laurel Road East
|
|
Nokomis
|
|
FL
|
|
|
34275
|
|
|
|
RV
|
|
|
|
111
|
|
|
|
|
|
|
|
|
|
|
|
546
|
|
|
|
430
|
|
|
|
100.0
|
%
|
|
|
100.0
|
%
|
|
$
|
6,139
|
|
|
$
|
6,042
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Silver Dollar
|
|
12515 Silver Dollar Drive
|
|
Odessa
|
|
FL
|
|
|
33556
|
|
|
|
RV
|
|
|
|
412
|
|
|
|
|
|
|
|
|
|
|
|
459
|
|
|
|
392
|
|
|
|
100.0
|
%
|
|
|
100.0
|
%
|
|
$
|
5,323
|
|
|
$
|
4,776
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Terra Ceia
|
|
9303 Bayshore Road
|
|
Palmetto
|
|
FL
|
|
|
34221
|
|
|
|
RV
|
|
|
|
18
|
|
|
|
|
|
|
|
|
|
|
|
203
|
|
|
|
132
|
|
|
|
100.0
|
%
|
|
|
100.0
|
%
|
|
$
|
3,581
|
|
|
$
|
3,555
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Lakes at Countrywood
|
|
745 Arbor Estates Way
|
|
Plant City
|
|
FL
|
|
|
33565
|
|
|
|
MH
|
|
|
|
122
|
|
|
|
|
|
|
|
|
|
|
|
424
|
|
|
|
424
|
|
|
|
93.4
|
%
|
|
|
92.7
|
%
|
|
$
|
4,190
|
|
|
$
|
3,959
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Meadows at Countrywood
|
|
745 Arbor Estates Way
|
|
Plant City
|
|
FL
|
|
|
33565
|
|
|
|
MH
|
|
|
|
140
|
|
|
|
13
|
|
|
|
110
|
|
|
|
799
|
|
|
|
799
|
|
|
|
95.6
|
%
|
|
|
95.4
|
%
|
|
$
|
5,008
|
|
|
$
|
4,699
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Oaks at Countrywood
|
|
745 Arbor Estates Way
|
|
Plant City
|
|
FL
|
|
|
33565
|
|
|
|
MH
|
|
|
|
44
|
|
|
|
|
|
|
|
|
|
|
|
168
|
|
|
|
168
|
|
|
|
76.2
|
%
|
|
|
76.2
|
%
|
|
$
|
4,290
|
|
|
$
|
3,984
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Harbor Lakes
|
|
3737 El Jobean Road #294
|
|
Port Charlotte
|
|
FL
|
|
|
33953
|
|
|
|
RV
|
|
|
|
80
|
|
|
|
|
|
|
|
|
|
|
|
528
|
|
|
|
294
|
|
|
|
100.0
|
%
|
|
|
100.0
|
%
|
|
$
|
4,555
|
|
|
$
|
4,470
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Gulf View
|
|
10205 Burnt Store Road
|
|
Punta Gorda
|
|
FL
|
|
|
33950
|
|
|
|
RV
|
|
|
|
78
|
|
|
|
|
|
|
|
|
|
|
|
206
|
|
|
|
53
|
|
|
|
100.0
|
%
|
|
|
100.0
|
%
|
|
$
|
4,505
|
|
|
$
|
4,328
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Tropical Palms MHC
|
|
17100 Tamiami Trailem
|
|
Punta Gorda
|
|
FL
|
|
|
33955
|
|
|
|
MH
|
|
|
|
50
|
|
|
|
|
|
|
|
|
|
|
|
294
|
|
|
|
294
|
|
|
|
88.1
|
%
|
|
|
86.5
|
%
|
|
$
|
3,473
|
|
|
$
|
3,240
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Winds of St. Armands No
|
|
4000 N. Tuttle Ave.
|
|
Sarasota
|
|
FL
|
|
|
34234
|
|
|
|
MH
|
|
|
|
74
|
|
|
|
|
|
|
|
|
|
|
|
471
|
|
|
|
471
|
|
|
|
94.9
|
%
|
|
|
94.9
|
%
|
|
$
|
6,427
|
|
|
$
|
6,402
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Winds of St. Armands So
|
|
3000 N. Tuttle Ave.
|
|
Sarasota
|
|
FL
|
|
|
34234
|
|
|
|
MH
|
|
|
|
61
|
|
|
|
|
|
|
|
|
|
|
|
306
|
|
|
|
306
|
|
|
|
98.4
|
%
|
|
|
99.3
|
%
|
|
$
|
6,291
|
|
|
$
|
5,915
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Peace River
|
|
2555 US Highway 17
|
|
South Wauchula
|
|
FL
|
|
|
33873
|
|
|
|
RV
|
|
|
|
72
|
|
|
|
38
|
|
|
|
|
|
|
|
454
|
|
|
|
18
|
|
|
|
100.0
|
%
|
|
|
|
(b)
|
|
$
|
1,979
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Topics
|
|
13063 County Line Road
|
|
Spring Hill
|
|
FL
|
|
|
34609
|
|
|
|
RV
|
|
|
|
35
|
|
|
|
|
|
|
|
|
|
|
|
230
|
|
|
|
197
|
|
|
|
100.0
|
%
|
|
|
100.0
|
%
|
|
$
|
3,022
|
|
|
$
|
2,889
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Pine Island
|
|
5120 Stringfellow Road
|
|
St. James City
|
|
FL
|
|
|
33956
|
|
|
|
RV
|
|
|
|
31
|
|
|
|
|
|
|
|
|
|
|
|
363
|
|
|
|
81
|
|
|
|
100.0
|
%
|
|
|
100.0
|
%
|
|
$
|
4,927
|
|
|
$
|
5,010
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Bay Indies
|
|
950 Ridgewood Ave
|
|
Venice
|
|
FL
|
|
|
34285
|
|
|
|
MH
|
|
|
|
210
|
|
|
|
|
|
|
|
|
|
|
|
1,309
|
|
|
|
1,309
|
|
|
|
93.1
|
%
|
|
|
93.3
|
%
|
|
$
|
7,127
|
|
|
$
|
6,683
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Ramblers Rest
|
|
1300 North River Rd.
|
|
Venice
|
|
FL
|
|
|
34293
|
|
|
|
RV
|
|
|
|
117
|
|
|
|
|
|
|
|
|
|
|
|
647
|
|
|
|
431
|
|
|
|
100.0
|
%
|
|
|
100.0
|
%
|
|
$
|
4,747
|
|
|
$
|
4,677
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Sixth Avenue
|
|
39345 6th Avenue
|
|
Zephyrhills
|
|
FL
|
|
|
33542
|
|
|
|
MH
|
|
|
|
14
|
|
|
|
|
|
|
|
|
|
|
|
140
|
|
|
|
140
|
|
|
|
87.1
|
%
|
|
|
91.0
|
%
|
|
$
|
2,468
|
|
|
$
|
2,436
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Florida Market:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
7,162
|
|
|
|
410
|
|
|
|
1,604
|
|
|
|
36,802
|
|
|
|
28,233
|
|
|
|
93.2
|
%
|
|
|
93.6
|
%
|
|
$
|
4,996
|
|
|
$
|
4,925
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
California
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Northern California:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Monte del Lago
|
|
13100 Monte del Lago
|
|
Castroville
|
|
CA
|
|
|
95012
|
|
|
|
MH
|
|
|
|
54
|
|
|
|
|
|
|
|
|
|
|
|
310
|
|
|
|
310
|
|
|
|
95.5
|
%
|
|
|
96.8
|
%
|
|
$
|
12,679
|
|
|
$
|
12,282
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Colony Park
|
|
3939 Central Avenue
|
|
Ceres
|
|
CA
|
|
|
95307
|
|
|
|
MH
|
|
|
|
20
|
|
|
|
|
|
|
|
|
|
|
|
186
|
|
|
|
186
|
|
|
|
94.1
|
%
|
|
|
90.9
|
%
|
|
$
|
6,417
|
|
|
$
|
6,713
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Russian River
|
|
33655 Geysers Rd
|
|
Cloverdale
|
|
CA
|
|
|
95425
|
|
|
|
RV
|
|
|
|
41
|
|
|
|
|
|
|
|
|
|
|
|
135
|
|
|
|
10
|
|
|
|
100.0
|
%
|
|
|
|
(b)
|
|
$
|
2,468
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Snowflower
|
|
41776 Yuba Gap Dr
|
|
Emigrant Gap
|
|
CA
|
|
|
95715
|
|
|
|
RV
|
|
|
|
551
|
|
|
|
200
|
|
|
|
|
|
|
|
268
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Four Seasons
|
|
3138 West Dakota
|
|
Fresno
|
|
CA
|
|
|
93722
|
|
|
|
MH
|
|
|
|
40
|
|
|
|
|
|
|
|
|
|
|
|
242
|
|
|
|
242
|
|
|
|
90.5
|
%
|
|
|
88.4
|
%
|
|
$
|
4,194
|
|
|
$
|
4,163
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Yosemite Lakes
|
|
31191 Harden Flat Rd
|
|
Groveland
|
|
CA
|
|
|
95321
|
|
|
|
RV
|
|
|
|
403
|
|
|
|
30
|
|
|
|
111
|
|
|
|
299
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
21
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total
|
|
|
Number
|
|
|
Annual
|
|
|
Annual
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Develo-
|
|
|
|
|
|
Number
|
|
|
of Annual
|
|
|
Site
|
|
|
Site
|
|
|
Annual
|
|
|
Annual
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
pable
|
|
|
|
|
|
of Sites
|
|
|
Sites
|
|
|
Occupancy
|
|
|
Occupancy
|
|
|
Rent
|
|
|
Rent
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Acres
|
|
|
Acres
|
|
|
Expansion
|
|
|
as of
|
|
|
as of
|
|
|
as of
|
|
|
as of
|
|
|
as of
|
|
|
as of
|
|
Property
|
|
Address
|
|
City
|
|
State
|
|
ZIP
|
|
|
MH/RV
|
|
|
(c)
|
|
|
(d)
|
|
|
Sites(e)
|
|
|
12/31/09
|
|
|
12/31/09
|
|
|
12/31/09
|
|
|
12/31/08
|
|
|
12/31/09
|
|
|
12/31/08
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Tahoe Valley
|
|
1175 Melba Drive
|
|
Lake Tahoe
|
|
CA
|
|
|
96150
|
|
|
|
RV
|
|
|
|
86
|
|
|
|
20
|
|
|
|
200
|
|
|
|
413
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Sea Oaks
|
|
1675 Los Osos Valley Rd., #221
|
|
Los Osos
|
|
CA
|
|
|
93402
|
|
|
|
MH
|
|
|
|
18
|
|
|
|
|
|
|
|
|
|
|
|
125
|
|
|
|
125
|
|
|
|
98.4
|
%
|
|
|
98.4
|
%
|
|
$
|
6,063
|
|
|
$
|
6,012
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Ponderosa
|
|
7291 Highway 49
|
|
Lotus
|
|
CA
|
|
|
95651
|
|
|
|
RV
|
|
|
|
22
|
|
|
|
|
|
|
|
|
|
|
|
170
|
|
|
|
6
|
|
|
|
100.0
|
%
|
|
|
|
(b)
|
|
$
|
2,616
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Turtle Beach
|
|
703 E Williamson Rd
|
|
Manteca
|
|
CA
|
|
|
95337
|
|
|
|
RV
|
|
|
|
39
|
|
|
|
|
|
|
|
|
|
|
|
79
|
|
|
|
8
|
|
|
|
100.0
|
%
|
|
|
|
(b)
|
|
$
|
2,979
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Coralwood
|
|
331 Coralwood
|
|
Modesto
|
|
CA
|
|
|
95356
|
|
|
|
MH
|
|
|
|
22
|
|
|
|
|
|
|
|
|
|
|
|
194
|
|
|
|
194
|
|
|
|
76.3
|
%
|
|
|
78.9
|
%
|
|
$
|
8,587
|
|
|
$
|
8,433
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Lake Minden
|
|
1256 Marcum Rd
|
|
Nicolaus
|
|
CA
|
|
|
95659
|
|
|
|
RV
|
|
|
|
165
|
|
|
|
82
|
|
|
|
540
|
|
|
|
323
|
|
|
|
4
|
|
|
|
100.0
|
%
|
|
|
|
(b)
|
|
$
|
2,710
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Lake of the Springs
|
|
14152 French Town Rd
|
|
Oregon House
|
|
CA
|
|
|
95962
|
|
|
|
RV
|
|
|
|
954
|
|
|
|
507
|
|
|
|
1,014
|
|
|
|
541
|
|
|
|
68
|
|
|
|
100.0
|
%
|
|
|
|
(b)
|
|
$
|
2,233
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Concord Cascade
|
|
245 Aria Drive
|
|
Pacheco
|
|
CA
|
|
|
94553
|
|
|
|
MH
|
|
|
|
31
|
|
|
|
|
|
|
|
|
|
|
|
283
|
|
|
|
283
|
|
|
|
98.9
|
%
|
|
|
100.0
|
%
|
|
$
|
7,842
|
|
|
$
|
7,682
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
San Francisco RV
|
|
700 Palmetto Ave
|
|
Pacifica
|
|
CA
|
|
|
94044
|
|
|
|
RV
|
|
|
|
12
|
|
|
|
|
|
|
|
|
|
|
|
182
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Quail Meadows
|
|
5901 Newbrook Drive
|
|
Riverbank
|
|
CA
|
|
|
95367
|
|
|
|
MH
|
|
|
|
20
|
|
|
|
|
|
|
|
|
|
|
|
146
|
|
|
|
146
|
|
|
|
94.5
|
%
|
|
|
96.6
|
%
|
|
$
|
8,157
|
|
|
$
|
8,238
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
California Hawaiian
|
|
3637 Snell Avenue
|
|
San Jose
|
|
CA
|
|
|
95136
|
|
|
|
MH
|
|
|
|
50
|
|
|
|
|
|
|
|
|
|
|
|
418
|
|
|
|
418
|
|
|
|
98.6
|
%
|
|
|
99.3
|
%
|
|
$
|
10,573
|
|
|
$
|
10,209
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Sunshadow
|
|
1350 Panoche Avenue
|
|
San Jose
|
|
CA
|
|
|
95122
|
|
|
|
MH
|
|
|
|
30
|
|
|
|
|
|
|
|
|
|
|
|
121
|
|
|
|
121
|
|
|
|
98.3
|
%
|
|
|
98.3
|
%
|
|
$
|
10,143
|
|
|
$
|
9,884
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Village of the Four Seasons
|
|
200 Ford Road
|
|
San Jose
|
|
CA
|
|
|
95138
|
|
|
|
MH
|
|
|
|
30
|
|
|
|
|
|
|
|
|
|
|
|
271
|
|
|
|
271
|
|
|
|
94.5
|
%
|
|
|
95.2
|
%
|
|
$
|
9,610
|
|
|
$
|
9,348
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Westwinds (4 Properties)
|
|
500 Nicholson Lane
|
|
San Jose
|
|
CA
|
|
|
95134
|
|
|
|
MH
|
|
|
|
88
|
|
|
|
|
|
|
|
|
|
|
|
723
|
|
|
|
723
|
|
|
|
93.1
|
%
|
|
|
92.1
|
%
|
|
$
|
11,137
|
|
|
$
|
11,034
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Laguna Lake
|
|
1801 Perfumo Canyon Road
|
|
San Luis Obispo
|
|
CA
|
|
|
93405
|
|
|
|
MH
|
|
|
|
100
|
|
|
|
|
|
|
|
|
|
|
|
300
|
|
|
|
300
|
|
|
|
99.3
|
%
|
|
|
100.0
|
%
|
|
$
|
5,694
|
|
|
$
|
5,514
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Contempo Marin
|
|
400 Yosemite Road
|
|
San Rafael
|
|
CA
|
|
|
94903
|
|
|
|
MH
|
|
|
|
63
|
|
|
|
|
|
|
|
|
|
|
|
396
|
|
|
|
396
|
|
|
|
97.5
|
%
|
|
|
97.2
|
%
|
|
$
|
8,789
|
|
|
$
|
8,482
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
DeAnza Santa Cruz
|
|
2395 Delaware Avenue
|
|
Santa Cruz
|
|
CA
|
|
|
95060
|
|
|
|
MH
|
|
|
|
30
|
|
|
|
|
|
|
|
|
|
|
|
198
|
|
|
|
198
|
|
|
|
93.9
|
%
|
|
|
93.9
|
%
|
|
$
|
11,280
|
|
|
$
|
10,165
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Santa Cruz Ranch RV Resort
|
|
917 Disc Drive
|
|
Scotts Valley
|
|
CA
|
|
|
95066
|
|
|
|
RV
|
|
|
|
7
|
|
|
|
|
|
|
|
|
|
|
|
106
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Royal Oaks
|
|
415 Akers Drive N.
|
|
Visalia
|
|
CA
|
|
|
93291
|
|
|
|
MH
|
|
|
|
20
|
|
|
|
|
|
|
|
|
|
|
|
149
|
|
|
|
149
|
|
|
|
98.7
|
%
|
|
|
90.6
|
%
|
|
$
|
5,122
|
|
|
$
|
5,215
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Southern California:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Soledad Canyon
|
|
4700 Crown Valley Rd
|
|
Acton
|
|
CA
|
|
|
93510
|
|
|
|
RV
|
|
|
|
273
|
|
|
|
45
|
|
|
|
182
|
|
|
|
1,251
|
|
|
|
23
|
|
|
|
100.0
|
%
|
|
|
|
(b)
|
|
$
|
2,887
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Date Palm Country Club
|
|
36-200 Date Palm Drive
|
|
Cathedral City
|
|
CA
|
|
|
92234
|
|
|
|
MH
|
|
|
|
232
|
|
|
|
3
|
|
|
|
24
|
|
|
|
538
|
|
|
|
538
|
|
|
|
97.6
|
%
|
|
|
98.3
|
%
|
|
$
|
11,186
|
|
|
$
|
10,694
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Date Palm RV
|
|
36-100 Date Palm Drive
|
|
Cathedral City
|
|
CA
|
|
|
92234
|
|
|
|
RV
|
|
|
|
(f
|
)
|
|
|
|
|
|
|
|
|
|
|
140
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Oakzanita
|
|
11053 Highway 79
|
|
Descanso
|
|
CA
|
|
|
91916
|
|
|
|
RV
|
|
|
|
145
|
|
|
|
5
|
|
|
|
|
|
|
|
146
|
|
|
|
8
|
|
|
|
100.0
|
%
|
|
|
|
(b)
|
|
$
|
2,895
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Rancho Mesa
|
|
450 East Bradley Ave.
|
|
El Cajon
|
|
CA
|
|
|
92021
|
|
|
|
MH
|
|
|
|
20
|
|
|
|
|
|
|
|
|
|
|
|
158
|
|
|
|
158
|
|
|
|
69.0
|
%
|
|
|
65.8
|
%
|
|
$
|
11,413
|
|
|
$
|
11,259
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Rancho Valley
|
|
12970 Hwy 8 Business
|
|
El Cajon
|
|
CA
|
|
|
92021
|
|
|
|
MH
|
|
|
|
19
|
|
|
|
|
|
|
|
|
|
|
|
140
|
|
|
|
140
|
|
|
|
97.9
|
%
|
|
|
97.9
|
%
|
|
$
|
11,498
|
|
|
$
|
11,191
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Royal Holiday
|
|
4400 W Florida Ave
|
|
Hemet
|
|
CA
|
|
|
92545
|
|
|
|
MH
|
|
|
|
22
|
|
|
|
|
|
|
|
|
|
|
|
196
|
|
|
|
196
|
|
|
|
63.3
|
%
|
|
|
66.5
|
%
|
|
$
|
4,882
|
|
|
$
|
4,860
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Idyllwild
|
|
24400 Canyon Trail Drive
|
|
Idyllwild
|
|
CA
|
|
|
92549
|
|
|
|
RV
|
|
|
|
191
|
|
|
|
52
|
|
|
|
120
|
|
|
|
287
|
|
|
|
27
|
|
|
|
100.0
|
%
|
|
|
|
(b)
|
|
$
|
2,424
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Pio Pico
|
|
14615 Otay Lakes Rd
|
|
Jamul
|
|
CA
|
|
|
91935
|
|
|
|
RV
|
|
|
|
176
|
|
|
|
10
|
|
|
|
|
|
|
|
512
|
|
|
|
80
|
|
|
|
100.0
|
%
|
|
|
|
(b)
|
|
$
|
3,509
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Wilderness Lakes
|
|
30605 Briggs Rd
|
|
Menifee
|
|
CA
|
|
|
92584
|
|
|
|
RV
|
|
|
|
73
|
|
|
|
|
|
|
|
|
|
|
|
529
|
|
|
|
11
|
|
|
|
100.0
|
%
|
|
|
|
(b)
|
|
$
|
3,774
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Morgan Hill
|
|
12895 Uvas Rd
|
|
Morgan Hill
|
|
CA
|
|
|
95037
|
|
|
|
RV
|
|
|
|
62
|
|
|
|
|
|
|
|
|
|
|
|
339
|
|
|
|
17
|
|
|
|
100.0
|
%
|
|
|
|
(b)
|
|
$
|
3,191
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Pacific Dunes Ranch
|
|
1205 Silver Spur Place
|
|
Oceana
|
|
CA
|
|
|
93445
|
|
|
|
RV
|
|
|
|
48
|
|
|
|
|
|
|
|
|
|
|
|
215
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
San Benito
|
|
16225 Cienega Rd
|
|
Paicines
|
|
CA
|
|
|
95043
|
|
|
|
RV
|
|
|
|
199
|
|
|
|
23
|
|
|
|
|
|
|
|
523
|
|
|
|
27
|
|
|
|
100.0
|
%
|
|
|
|
(b)
|
|
$
|
2,647
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Palm Springs
|
|
77500 Varner Rd
|
|
Palm Desert
|
|
CA
|
|
|
92211
|
|
|
|
RV
|
|
|
|
35
|
|
|
|
|
|
|
|
|
|
|
|
401
|
|
|
|
42
|
|
|
|
100.0
|
%
|
|
|
|
(b)
|
|
$
|
3,311
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Las Palmas
|
|
1025 S. Riverside Ave.
|
|
Rialto
|
|
CA
|
|
|
92376
|
|
|
|
MH
|
|
|
|
18
|
|
|
|
|
|
|
|
|
|
|
|
136
|
|
|
|
136
|
|
|
|
100.0
|
%
|
|
|
100.0
|
%
|
|
$
|
5,713
|
|
|
$
|
5,452
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Parque La Quinta
|
|
350 S. Willow Ave. #120
|
|
Rialto
|
|
CA
|
|
|
92376
|
|
|
|
MH
|
|
|
|
19
|
|
|
|
|
|
|
|
|
|
|
|
166
|
|
|
|
166
|
|
|
|
100.0
|
%
|
|
|
99.4
|
%
|
|
$
|
5,698
|
|
|
$
|
5,407
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Rancho Oso
|
|
3750 Paradise Rd
|
|
Santa Barbara
|
|
CA
|
|
|
93105
|
|
|
|
RV
|
|
|
|
310
|
|
|
|
40
|
|
|
|
|
|
|
|
187
|
|
|
|
17
|
|
|
|
100.0
|
%
|
|
|
|
(b)
|
|
$
|
3,229
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Meadowbrook
|
|
8301 Mission Gorge Rd.
|
|
Santee
|
|
CA
|
|
|
92071
|
|
|
|
MH
|
|
|
|
43
|
|
|
|
|
|
|
|
|
|
|
|
338
|
|
|
|
338
|
|
|
|
99.4
|
%
|
|
|
97.9
|
%
|
|
$
|
9,018
|
|
|
$
|
8,926
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Lamplighter
|
|
10767 Jamacha Blvd.
|
|
Spring Valley
|
|
CA
|
|
|
91978
|
|
|
|
MH
|
|
|
|
32
|
|
|
|
|
|
|
|
|
|
|
|
270
|
|
|
|
270
|
|
|
|
95.6
|
%
|
|
|
96.7
|
%
|
|
$
|
11,828
|
|
|
$
|
11,471
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Santiago Estates
|
|
13691 Gavina Ave. #632
|
|
Sylmar
|
|
CA
|
|
|
91342
|
|
|
|
MH
|
|
|
|
113
|
|
|
|
9
|
|
|
|
|
|
|
|
300
|
|
|
|
300
|
|
|
|
100.0
|
%
|
|
|
100.0
|
%
|
|
$
|
11,031
|
|
|
$
|
10,555
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total California Market
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
4,926
|
|
|
|
1,026
|
|
|
|
2,191
|
|
|
|
13,350
|
|
|
|
6,652
|
|
|
|
95.9
|
%
|
|
|
93.3
|
%
|
|
$
|
6,564
|
|
|
$
|
8,466
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Arizona
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Countryside RV
|
|
2701 S. Idaho Rd
|
|
Apache Junction
|
|
AZ
|
|
|
85219
|
|
|
|
RV
|
|
|
|
53
|
|
|
|
|
|
|
|
|
|
|
|
560
|
|
|
|
294
|
|
|
|
100.0
|
%
|
|
|
100.0
|
%
|
|
$
|
3,022
|
|
|
$
|
2,931
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Golden Sun RV
|
|
999 W Broadway Ave
|
|
Apache Junction
|
|
AZ
|
|
|
85220
|
|
|
|
RV
|
|
|
|
33
|
|
|
|
|
|
|
|
|
|
|
|
329
|
|
|
|
217
|
|
|
|
100.0
|
%
|
|
|
100.0
|
%
|
|
$
|
2,998
|
|
|
$
|
2,845
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Casita Verde RV
|
|
2200 N. Trekell Rd.
|
|
Casa Grande
|
|
AZ
|
|
|
85222
|
|
|
|
RV
|
|
|
|
14
|
|
|
|
|
|
|
|
|
|
|
|
192
|
|
|
|
104
|
|
|
|
100.0
|
%
|
|
|
100.0
|
%
|
|
$
|
2,309
|
|
|
$
|
2,222
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Fiesta Grande RV
|
|
1511 East Florence Blvd.
|
|
Casa Grande
|
|
AZ
|
|
|
85222
|
|
|
|
RV
|
|
|
|
77
|
|
|
|
|
|
|
|
|
|
|
|
767
|
|
|
|
485
|
|
|
|
100.0
|
%
|
|
|
100.0
|
%
|
|
$
|
2,719
|
|
|
$
|
2,610
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Foothills West RV
|
|
10167 N. Encore Dr.
|
|
Casa Grande
|
|
AZ
|
|
|
85222
|
|
|
|
RV
|
|
|
|
16
|
|
|
|
|
|
|
|
|
|
|
|
188
|
|
|
|
129
|
|
|
|
100.0
|
%
|
|
|
100.0
|
%
|
|
$
|
2,299
|
|
|
$
|
2,199
|
|
22
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total
|
|
|
Number
|
|
|
Annual
|
|
|
Annual
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Develo-
|
|
|
|
|
|
Number
|
|
|
of Annual
|
|
|
Site
|
|
|
Site
|
|
|
Annual
|
|
|
Annual
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
pable
|
|
|
|
|
|
of Sites
|
|
|
Sites
|
|
|
Occupancy
|
|
|
Occupancy
|
|
|
Rent
|
|
|
Rent
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Acres
|
|
|
Acres
|
|
|
Expansion
|
|
|
as of
|
|
|
as of
|
|
|
as of
|
|
|
as of
|
|
|
as of
|
|
|
as of
|
|
Property
|
|
Address
|
|
City
|
|
State
|
|
ZIP
|
|
|
MH/RV
|
|
|
(c)
|
|
|
(d)
|
|
|
Sites(e)
|
|
|
12/31/09
|
|
|
12/31/09
|
|
|
12/31/09
|
|
|
12/31/08
|
|
|
12/31/09
|
|
|
12/31/08
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Verde Valley
|
|
6400 Thousand Trails Rd, SP # 16
|
|
Cottonwood
|
|
AZ
|
|
|
86326
|
|
|
|
RV
|
|
|
|
273
|
|
|
|
129
|
|
|
|
515
|
|
|
|
352
|
|
|
|
37
|
|
|
|
100.0
|
%
|
|
|
|
(b)
|
|
$
|
2,685
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Casa del Sol East II
|
|
10960 N. 67th Avenue
|
|
Glendale
|
|
AZ
|
|
|
85304
|
|
|
|
MH
|
|
|
|
29
|
|
|
|
|
|
|
|
|
|
|
|
239
|
|
|
|
239
|
|
|
|
84.1
|
%
|
|
|
84.5
|
%
|
|
$
|
6,756
|
|
|
$
|
6,733
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Casa del Sol East III
|
|
10960 N. 67th Avenue
|
|
Glendale
|
|
AZ
|
|
|
85304
|
|
|
|
MH
|
|
|
|
28
|
|
|
|
|
|
|
|
|
|
|
|
236
|
|
|
|
236
|
|
|
|
78.8
|
%
|
|
|
81.8
|
%
|
|
$
|
6,912
|
|
|
$
|
6,720
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Palm Shadows
|
|
7300 N. 51st. Avenue
|
|
Glendale
|
|
AZ
|
|
|
85301
|
|
|
|
MH
|
|
|
|
33
|
|
|
|
|
|
|
|
|
|
|
|
294
|
|
|
|
294
|
|
|
|
90.5
|
%
|
|
|
82.7
|
%
|
|
$
|
5,484
|
|
|
$
|
5,257
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Monte Vista
|
|
8865 E. Baseline Road
|
|
Mesa
|
|
AZ
|
|
|
85209
|
|
|
|
RV
|
|
|
|
142
|
|
|
|
56
|
|
|
|
515
|
|
|
|
832
|
|
|
|
765
|
|
|
|
100.0
|
%
|
|
|
100.0
|
%
|
|
$
|
5,295
|
|
|
$
|
5,111
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Viewpoint
|
|
8700 E. University
|
|
Mesa
|
|
AZ
|
|
|
85207
|
|
|
|
RV
|
|
|
|
332
|
|
|
|
55
|
|
|
|
467
|
|
|
|
1,954
|
|
|
|
1,537
|
|
|
|
100.0
|
%
|
|
|
100.0
|
%
|
|
$
|
4,873
|
|
|
$
|
4,695
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Hacienda de Valencia
|
|
201 S. Greenfield Rd.
|
|
Mesa
|
|
AZ
|
|
|
85206
|
|
|
|
MH
|
|
|
|
51
|
|
|
|
|
|
|
|
|
|
|
|
366
|
|
|
|
366
|
|
|
|
97.0
|
%
|
|
|
98.4
|
%
|
|
$
|
6,016
|
|
|
$
|
5,897
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
The Highlands at Brentwood
|
|
120 North Val Vista Drive
|
|
Mesa
|
|
AZ
|
|
|
85213
|
|
|
|
MH
|
|
|
|
45
|
|
|
|
|
|
|
|
|
|
|
|
268
|
|
|
|
268
|
|
|
|
99.3
|
%
|
|
|
99.3
|
%
|
|
$
|
6,635
|
|
|
$
|
6,551
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
The Mark
|
|
625 West McKellips
|
|
Mesa
|
|
AZ
|
|
|
85201
|
|
|
|
MH
|
|
|
|
60
|
|
|
|
4
|
|
|
|
|
|
|
|
410
|
|
|
|
410
|
|
|
|
64.1
|
%
|
|
|
62.9
|
%
|
|
$
|
5,656
|
|
|
$
|
5,383
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Apollo Village
|
|
10701 N. 99th Ave.
|
|
Peoria
|
|
AZ
|
|
|
85345
|
|
|
|
MH
|
|
|
|
29
|
|
|
|
3
|
|
|
|
|
|
|
|
238
|
|
|
|
238
|
|
|
|
97.1
|
%
|
|
|
92.4
|
%
|
|
$
|
5,194
|
|
|
$
|
5,393
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Casa del Sol West I
|
|
11411 N. 91st Avenue
|
|
Peoria
|
|
AZ
|
|
|
85345
|
|
|
|
MH
|
|
|
|
31
|
|
|
|
|
|
|
|
|
|
|
|
245
|
|
|
|
245
|
|
|
|
94.7
|
%
|
|
|
94.3
|
%
|
|
$
|
6,273
|
|
|
$
|
6,293
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Carefree Manor
|
|
19602 N. 32nd Street
|
|
Phoenix
|
|
AZ
|
|
|
85050
|
|
|
|
MH
|
|
|
|
16
|
|
|
|
|
|
|
|
|
|
|
|
130
|
|
|
|
130
|
|
|
|
97.7
|
%
|
|
|
93.1
|
%
|
|
$
|
4,832
|
|
|
$
|
4,929
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Central Park
|
|
205 West Bell Road
|
|
Phoenix
|
|
AZ
|
|
|
85023
|
|
|
|
MH
|
|
|
|
37
|
|
|
|
|
|
|
|
|
|
|
|
293
|
|
|
|
293
|
|
|
|
99.3
|
%
|
|
|
99.0
|
%
|
|
$
|
5,992
|
|
|
$
|
5,901
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Desert Skies
|
|
19802 N. 32 Street
|
|
Phoenix
|
|
AZ
|
|
|
85024
|
|
|
|
MH
|
|
|
|
24
|
|
|
|
|
|
|
|
|
|
|
|
165
|
|
|
|
165
|
|
|
|
99.4
|
%
|
|
|
100.0
|
%
|
|
$
|
5,306
|
|
|
$
|
5,130
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Sunrise Heights
|
|
17801 North 16th Street
|
|
Phoenix
|
|
AZ
|
|
|
85022
|
|
|
|
MH
|
|
|
|
28
|
|
|
|
|
|
|
|
|
|
|
|
199
|
|
|
|
199
|
|
|
|
98.0
|
%
|
|
|
94.0
|
%
|
|
$
|
5,733
|
|
|
$
|
5,657
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Whispering Palms
|
|
19225 N. Cave Creek Rd.
|
|
Phoenix
|
|
AZ
|
|
|
85024
|
|
|
|
MH
|
|
|
|
15
|
|
|
|
|
|
|
|
|
|
|
|
116
|
|
|
|
116
|
|
|
|
96.6
|
%
|
|
|
94.8
|
%
|
|
$
|
4,644
|
|
|
$
|
4,507
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Sedona Shadows
|
|
6770 W. U.S. Hwy 89A
|
|
Sedona
|
|
AZ
|
|
|
86336
|
|
|
|
MH
|
|
|
|
48
|
|
|
|
6
|
|
|
|
10
|
|
|
|
198
|
|
|
|
198
|
|
|
|
99.5
|
%
|
|
|
100.0
|
%
|
|
$
|
7,503
|
|
|
$
|
7,074
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Venture In
|
|
270 N. Clark Rd.
|
|
Show Low
|
|
AZ
|
|
|
85901
|
|
|
|
RV
|
|
|
|
26
|
|
|
|
|
|
|
|
|
|
|
|
389
|
|
|
|
278
|
|
|
|
100.0
|
%
|
|
|
100.0
|
%
|
|
$
|
2,835
|
|
|
$
|
2,699
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Paradise
|
|
10950 W. Union Hill Drive
|
|
Sun City
|
|
AZ
|
|
|
85373
|
|
|
|
RV
|
|
|
|
80
|
|
|
|
|
|
|
|
|
|
|
|
950
|
|
|
|
816
|
|
|
|
100.0
|
%
|
|
|
100.0
|
%
|
|
$
|
3,957
|
|
|
$
|
3,764
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
The Meadows
|
|
2401 W. Southern Ave.
|
|
Tempe
|
|
AZ
|
|
|
85282
|
|
|
|
MH
|
|
|
|
60
|
|
|
|
|
|
|
|
|
|
|
|
391
|
|
|
|
391
|
|
|
|
97.2
|
%
|
|
|
94.4
|
%
|
|
$
|
6,430
|
|
|
$
|
6,171
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Fairview Manor
|
|
3115 N. Fairview Avenue
|
|
Tucson
|
|
AZ
|
|
|
85705
|
|
|
|
MH
|
|
|
|
28
|
|
|
|
|
|
|
|
|
|
|
|
237
|
|
|
|
237
|
|
|
|
81.9
|
%
|
|
|
80.9
|
%
|
|
$
|
4,564
|
|
|
$
|
4,636
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Araby
|
|
6649 E. 32nd. St.
|
|
Yuma
|
|
AZ
|
|
|
85365
|
|
|
|
RV
|
|
|
|
25
|
|
|
|
|
|
|
|
|
|
|
|
337
|
|
|
|
294
|
|
|
|
100.0
|
%
|
|
|
100.0
|
%
|
|
$
|
3,123
|
|
|
$
|
3,015
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cactus Gardens
|
|
10657 S. Ave. 9-E
|
|
Yuma
|
|
AZ
|
|
|
85365
|
|
|
|
RV
|
|
|
|
43
|
|
|
|
|
|
|
|
|
|
|
|
430
|
|
|
|
295
|
|
|
|
100.0
|
%
|
|
|
100.0
|
%
|
|
$
|
2,120
|
|
|
$
|
2,057
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Capri RV
|
|
3380 South 4th Ave
|
|
Yuma
|
|
AZ
|
|
|
85365
|
|
|
|
RV
|
|
|
|
20
|
|
|
|
|
|
|
|
|
|
|
|
303
|
|
|
|
243
|
|
|
|
100.0
|
%
|
|
|
100.0
|
%
|
|
$
|
2,795
|
|
|
$
|
2,791
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Desert Paradise
|
|
10537 South Ave., 9E
|
|
Yuma
|
|
AZ
|
|
|
85365
|
|
|
|
RV
|
|
|
|
26
|
|
|
|
|
|
|
|
|
|
|
|
260
|
|
|
|
122
|
|
|
|
100.0
|
%
|
|
|
100.0
|
%
|
|
$
|
2,170
|
|
|
$
|
2,076
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Foothill
|
|
12705 E. South Frontage Rd.
|
|
Yuma
|
|
AZ
|
|
|
85367
|
|
|
|
RV
|
|
|
|
18
|
|
|
|
|
|
|
|
|
|
|
|
180
|
|
|
|
74
|
|
|
|
100.0
|
%
|
|
|
100.0
|
%
|
|
$
|
2,131
|
|
|
$
|
2,115
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Mesa Verde
|
|
3649 & 3749 South 4th Ave.
|
|
Yuma
|
|
AZ
|
|
|
85365
|
|
|
|
RV
|
|
|
|
28
|
|
|
|
|
|
|
|
|
|
|
|
345
|
|
|
|
311
|
|
|
|
100.0
|
%
|
|
|
100.0
|
%
|
|
$
|
2,679
|
|
|
$
|
2,637
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Suni Sands
|
|
1960 East 32nd Street
|
|
Yuma
|
|
AZ
|
|
|
85365
|
|
|
|
RV
|
|
|
|
34
|
|
|
|
|
|
|
|
|
|
|
|
336
|
|
|
|
197
|
|
|
|
100.0
|
%
|
|
|
100.0
|
%
|
|
$
|
2,607
|
|
|
$
|
2,539
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Arizona Market
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1,802
|
|
|
|
253
|
|
|
|
1,507
|
|
|
|
12,729
|
|
|
|
10,223
|
|
|
|
96.2
|
%
|
|
|
95.4
|
%
|
|
$
|
4,380
|
|
|
$
|
4,329
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Colorado
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Hillcrest Village
|
|
1600 Sable Boulevard
|
|
Aurora
|
|
CO
|
|
|
80011
|
|
|
|
MH
|
|
|
|
72
|
|
|
|
|
|
|
|
|
|
|
|
601
|
|
|
|
601
|
|
|
|
83.7
|
%
|
|
|
81.0
|
%
|
|
$
|
6,771
|
|
|
$
|
6,672
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cimarron
|
|
12205 North Perry
|
|
Broomfield
|
|
CO
|
|
|
80020
|
|
|
|
MH
|
|
|
|
50
|
|
|
|
|
|
|
|
|
|
|
|
327
|
|
|
|
327
|
|
|
|
81.7
|
%
|
|
|
82.6
|
%
|
|
$
|
6,756
|
|
|
$
|
6,483
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Holiday Village
|
|
3405 Sinton Road
|
|
Co. Springs
|
|
CO
|
|
|
80907
|
|
|
|
MH
|
|
|
|
38
|
|
|
|
|
|
|
|
|
|
|
|
240
|
|
|
|
240
|
|
|
|
73.3
|
%
|
|
|
75.8
|
%
|
|
$
|
6,869
|
|
|
$
|
6,678
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Bear Creek
|
|
3500 South King Street
|
|
Denver
|
|
CO
|
|
|
80236
|
|
|
|
MH
|
|
|
|
12
|
|
|
|
|
|
|
|
|
|
|
|
124
|
|
|
|
124
|
|
|
|
89.5
|
%
|
|
|
91.8
|
%
|
|
$
|
6,659
|
|
|
$
|
6,498
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Holiday Hills
|
|
2000 West 92nd Avenue
|
|
Denver
|
|
CO
|
|
|
80260
|
|
|
|
MH
|
|
|
|
99
|
|
|
|
|
|
|
|
|
|
|
|
736
|
|
|
|
736
|
|
|
|
81.8
|
%
|
|
|
83.3
|
%
|
|
$
|
6,654
|
|
|
$
|
6,525
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Golden Terrace
|
|
17601 West Colfax Ave.
|
|
Golden
|
|
CO
|
|
|
80401
|
|
|
|
MH
|
|
|
|
32
|
|
|
|
|
|
|
|
|
|
|
|
265
|
|
|
|
265
|
|
|
|
80.8
|
%
|
|
|
82.6
|
%
|
|
$
|
7,293
|
|
|
$
|
7,211
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Golden Terrace South
|
|
17601 West Colfax Ave.
|
|
Golden
|
|
CO
|
|
|
80401
|
|
|
|
MH
|
|
|
|
15
|
|
|
|
|
|
|
|
|
|
|
|
80
|
|
|
|
80
|
|
|
|
60.0
|
%
|
|
|
67.5
|
%
|
|
$
|
7,146
|
|
|
$
|
7,080
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Golden Terrace South RV
|
|
17801 West Colfax Ave.
|
|
Golden
|
|
CO
|
|
|
80401
|
|
|
|
RV
|
|
|
|
(f
|
)
|
|
|
|
|
|
|
|
|
|
|
80
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Golden Terrace West
|
|
17601 West Colfax Ave.
|
|
Golden
|
|
CO
|
|
|
80401
|
|
|
|
MH
|
|
|
|
39
|
|
|
|
7
|
|
|
|
|
|
|
|
316
|
|
|
|
316
|
|
|
|
76.6
|
%
|
|
|
81.3
|
%
|
|
$
|
7,112
|
|
|
$
|
7,049
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Pueblo Grande
|
|
999 Fortino Blvd. West
|
|
Pueblo
|
|
CO
|
|
|
81008
|
|
|
|
MH
|
|
|
|
33
|
|
|
|
|
|
|
|
|
|
|
|
251
|
|
|
|
251
|
|
|
|
79.7
|
%
|
|
|
84.1
|
%
|
|
$
|
4,046
|
|
|
$
|
4,005
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Woodland Hills
|
|
1500 W. Thornton Pkwy.
|
|
Thorton
|
|
CO
|
|
|
80260
|
|
|
|
MH
|
|
|
|
55
|
|
|
|
|
|
|
|
|
|
|
|
434
|
|
|
|
434
|
|
|
|
80.2
|
%
|
|
|
80.2
|
%
|
|
$
|
6,464
|
|
|
$
|
6,208
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Colorado Market
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
445
|
|
|
|
7
|
|
|
|
0
|
|
|
|
3,454
|
|
|
|
3,374
|
|
|
|
78.7
|
%
|
|
|
81.0
|
%
|
|
$
|
6,577
|
|
|
$
|
6,441
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
23
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total
|
|
|
Number
|
|
|
Annual
|
|
|
Annual
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Develo-
|
|
|
|
|
|
Number
|
|
|
of Annual
|
|
|
Site
|
|
|
Site
|
|
|
Annual
|
|
|
Annual
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
pable
|
|
|
|
|
|
of Sites
|
|
|
Sites
|
|
|
Occupancy
|
|
|
Occupancy
|
|
|
Rent
|
|
|
Rent
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Acres
|
|
|
Acres
|
|
|
Expansion
|
|
|
as of
|
|
|
as of
|
|
|
as of
|
|
|
as of
|
|
|
as of
|
|
|
as of
|
|
Property
|
|
Address
|
|
City
|
|
State
|
|
ZIP
|
|
|
MH/RV
|
|
|
(c)
|
|
|
(d)
|
|
|
Sites(e)
|
|
|
12/31/09
|
|
|
12/31/09
|
|
|
12/31/09
|
|
|
12/31/08
|
|
|
12/31/09
|
|
|
12/31/08
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Northeast
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Waterford
|
|
205 Joan Drive
|
|
Bear
|
|
DE
|
|
|
19701
|
|
|
|
MH
|
|
|
|
159
|
|
|
|
|
|
|
|
|
|
|
|
731
|
|
|
|
731
|
|
|
|
96.4
|
%
|
|
|
95.5
|
%
|
|
$
|
6,300
|
|
|
$
|
6,134
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Whispering Pines
|
|
32045 Janice Road
|
|
Lewes
|
|
DE
|
|
|
19958
|
|
|
|
MH
|
|
|
|
67
|
|
|
|
2
|
|
|
|
|
|
|
|
393
|
|
|
|
393
|
|
|
|
80.7
|
%
|
|
|
82.4
|
%
|
|
$
|
4,842
|
|
|
$
|
4,580
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Mariners Cove
|
|
35356 Sussex Lane #1
|
|
Millsboro
|
|
DE
|
|
|
19966
|
|
|
|
MH
|
|
|
|
101
|
|
|
|
|
|
|
|
|
|
|
|
375
|
|
|
|
375
|
|
|
|
96.8
|
%
|
|
|
95.7
|
%
|
|
$
|
6,926
|
|
|
$
|
6,923
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Aspen Meadows
|
|
303 Palace Lane
|
|
Rehoboth
|
|
DE
|
|
|
19971
|
|
|
|
MH
|
|
|
|
46
|
|
|
|
|
|
|
|
|
|
|
|
200
|
|
|
|
200
|
|
|
|
100.0
|
%
|
|
|
100.0
|
%
|
|
$
|
5,476
|
|
|
$
|
5,117
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Camelot Meadows
|
|
303 Palace Lane
|
|
Rehoboth
|
|
DE
|
|
|
19971
|
|
|
|
MH
|
|
|
|
61
|
|
|
|
|
|
|
|
|
|
|
|
301
|
|
|
|
301
|
|
|
|
100.0
|
%
|
|
|
99.7
|
%
|
|
$
|
5,157
|
|
|
$
|
4,854
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
McNicol
|
|
303 Palace Lane
|
|
Rehoboth
|
|
DE
|
|
|
19971
|
|
|
|
MH
|
|
|
|
25
|
|
|
|
|
|
|
|
|
|
|
|
93
|
|
|
|
93
|
|
|
|
98.9
|
%
|
|
|
98.9
|
%
|
|
$
|
4,865
|
|
|
$
|
4,565
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Sweetbriar
|
|
83 Big Burn Lane
|
|
Rehoboth
|
|
DE
|
|
|
19958
|
|
|
|
MH
|
|
|
|
38
|
|
|
|
|
|
|
|
|
|
|
|
146
|
|
|
|
146
|
|
|
|
98.6
|
%
|
|
|
98.6
|
%
|
|
$
|
4,872
|
|
|
$
|
4,677
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Gateway to Cape Cod
|
|
90 Stevens Rd PO Box 217
|
|
Rochester
|
|
MA
|
|
|
02770
|
|
|
|
RV
|
|
|
|
80
|
|
|
|
|
|
|
|
|
|
|
|
194
|
|
|
|
33
|
|
|
|
100.0
|
%
|
|
|
|
(b)
|
|
$
|
1,672
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Old Chatham RV
|
|
310 Old Chatham Road
|
|
South Dennis
|
|
MA
|
|
|
02660
|
|
|
|
RV
|
|
|
|
47
|
|
|
|
11
|
|
|
|
|
|
|
|
312
|
|
|
|
266
|
|
|
|
100.0
|
%
|
|
|
100.0
|
%
|
|
$
|
3,621
|
|
|
$
|
3,625
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Sturbridge
|
|
19 Mashapaug Rd
|
|
Sturbridge
|
|
MA
|
|
|
01566
|
|
|
|
RV
|
|
|
|
223
|
|
|
|
|
|
|
|
|
|
|
|
155
|
|
|
|
23
|
|
|
|
100.0
|
%
|
|
|
|
(b)
|
|
$
|
2,092
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Mount Desert Narrows
|
|
1219 State Highway 3
|
|
Bar Harbor
|
|
ME
|
|
|
04609
|
|
|
|
RV
|
|
|
|
90
|
|
|
|
12
|
|
|
|
|
|
|
|
206
|
|
|
|
5
|
|
|
|
100.0
|
%
|
|
|
|
|
|
$
|
2,600
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Patten Pond
|
|
1470 Bucksport Road
|
|
Ellsworth
|
|
ME
|
|
|
04605
|
|
|
|
RV
|
|
|
|
43
|
|
|
|
60
|
|
|
|
|
|
|
|
137
|
|
|
|
21
|
|
|
|
100.0
|
%
|
|
|
100.0
|
%
|
|
$
|
2,248
|
|
|
$
|
2,450
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Moody Beach
|
|
266 Post Road
|
|
Moody
|
|
ME
|
|
|
04054
|
|
|
|
RV
|
|
|
|
48
|
|
|
|
|
|
|
|
|
|
|
|
203
|
|
|
|
53
|
|
|
|
100.0
|
%
|
|
|
|
(b)
|
|
$
|
2,621
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Pinehurst RV Park
|
|
7 Oregon Avenue, P.O. Box 174
|
|
Old Orchard Beach
|
|
ME
|
|
|
04064
|
|
|
|
RV
|
|
|
|
58
|
|
|
|
|
|
|
|
|
|
|
|
550
|
|
|
|
506
|
|
|
|
100.0
|
%
|
|
|
100.0
|
%
|
|
$
|
2,782
|
|
|
$
|
2,700
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Narrows Too
|
|
1150 Bar Harbor Road
|
|
Trenton
|
|
ME
|
|
|
04605
|
|
|
|
RV
|
|
|
|
42
|
|
|
|
|
|
|
|
|
|
|
|
207
|
|
|
|
7
|
|
|
|
100.0
|
%
|
|
|
100.0
|
%
|
|
$
|
2,357
|
|
|
$
|
3,165
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Forest Lake
|
|
192 Thousand Trails Dr
|
|
Advance
|
|
NC
|
|
|
27006
|
|
|
|
RV
|
|
|
|
306
|
|
|
|
81
|
|
|
|
|
|
|
|
305
|
|
|
|
16
|
|
|
|
100.0
|
%
|
|
|
|
(b)
|
|
$
|
2,117
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Scenic
|
|
1314 Tunnel Rd.
|
|
Asheville
|
|
NC
|
|
|
28805
|
|
|
|
MH
|
|
|
|
28
|
|
|
|
|
|
|
|
|
|
|
|
205
|
|
|
|
205
|
|
|
|
77.1
|
%
|
|
|
94.2
|
%
|
|
$
|
3,790
|
|
|
$
|
3,537
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Waterway RV
|
|
850 Cedar Point Blvd.
|
|
Cedar Point
|
|
NC
|
|
|
28584
|
|
|
|
RV
|
|
|
|
27
|
|
|
|
|
|
|
|
|
|
|
|
336
|
|
|
|
324
|
|
|
|
100.0
|
%
|
|
|
100.0
|
%
|
|
$
|
3,458
|
|
|
$
|
3,220
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Twin Lakes
|
|
1618 Memory Lane
|
|
Chocowinity
|
|
NC
|
|
|
27817
|
|
|
|
RV
|
|
|
|
132
|
|
|
|
8
|
|
|
|
54
|
|
|
|
400
|
|
|
|
322
|
|
|
|
100.0
|
%
|
|
|
100.0
|
%
|
|
$
|
2,765
|
|
|
$
|
2,611
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Green Mountain Park
|
|
2495 Dimmette Rd
|
|
Lenoir
|
|
NC
|
|
|
28645
|
|
|
|
RV
|
|
|
|
1077
|
|
|
|
400
|
|
|
|
360
|
|
|
|
447
|
|
|
|
74
|
|
|
|
100.
|
%
|
|
|
|
(b)
|
|
$
|
1,001
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Lake Gaston
|
|
561 Fleming Dairy Road
|
|
Littleton
|
|
NC
|
|
|
27850
|
|
|
|
RV
|
|
|
|
69
|
|
|
|
|
|
|
|
|
|
|
|
235
|
|
|
|
99
|
|
|
|
100.0
|
%
|
|
|
|
(b)
|
|
$
|
1,780
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Lake Myers RV
|
|
2862 US Highway 64 West
|
|
Mocksville
|
|
NC
|
|
|
27028
|
|
|
|
RV
|
|
|
|
74
|
|
|
|
|
|
|
|
|
|
|
|
425
|
|
|
|
297
|
|
|
|
100.0
|
%
|
|
|
100.0
|
%
|
|
$
|
2,070
|
|
|
$
|
2,046
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Goose Creek
|
|
350 Red Barn Road
|
|
Newport
|
|
NC
|
|
|
28570
|
|
|
|
RV
|
|
|
|
92
|
|
|
|
6
|
|
|
|
51
|
|
|
|
735
|
|
|
|
615
|
|
|
|
100.0
|
%
|
|
|
100.0
|
%
|
|
$
|
3,519
|
|
|
$
|
3,227
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Sandy Beach RV
|
|
677 Clement Hill Road
|
|
Contoocook
|
|
NH
|
|
|
03229
|
|
|
|
RV
|
|
|
|
40
|
|
|
|
|
|
|
|
|
|
|
|
190
|
|
|
|
104
|
|
|
|
100.0
|
%
|
|
|
100.0
|
%
|
|
$
|
3,213
|
|
|
$
|
3,188
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Tuxbury Resort
|
|
88 Whitehall Road
|
|
South Hampton
|
|
NH
|
|
|
03827
|
|
|
|
RV
|
|
|
|
193
|
|
|
|
100
|
|
|
|
|
|
|
|
305
|
|
|
|
193
|
|
|
|
100.0
|
%
|
|
|
100.0
|
%
|
|
$
|
2,903
|
|
|
$
|
2,982
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Lake & Shore
|
|
545 Corson Tavern Rd
|
|
Ocean View
|
|
NJ
|
|
|
08230
|
|
|
|
RV
|
|
|
|
162
|
|
|
|
|
|
|
|
|
|
|
|
401
|
|
|
|
146
|
|
|
|
100.0
|
%
|
|
|
|
(b)
|
|
$
|
3,754
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Chestnut Lake
|
|
631 Chestnut Neck Rd
|
|
Port Republic
|
|
NJ
|
|
|
08241
|
|
|
|
RV
|
|
|
|
32
|
|
|
|
|
|
|
|
|
|
|
|
185
|
|
|
|
37
|
|
|
|
100.0
|
%
|
|
|
|
(b)
|
|
$
|
1,838
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Sea Pines
|
|
US Route #9 Box 1535
|
|
Swainton
|
|
NJ
|
|
|
08210
|
|
|
|
RV
|
|
|
|
75
|
|
|
|
|
|
|
|
|
|
|
|
549
|
|
|
|
191
|
|
|
|
100.0
|
%
|
|
|
|
(b)
|
|
$
|
2,732
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Rondout Valley Resort
|
|
105 Mettachonts Rd
|
|
Accord
|
|
NY
|
|
|
12404
|
|
|
|
RV
|
|
|
|
184
|
|
|
|
94
|
|
|
|
|
|
|
|
398
|
|
|
|
41
|
|
|
|
100.0
|
%
|
|
|
|
(b)
|
|
$
|
2,759
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Alpine Lake
|
|
78 Heath Road
|
|
Corinth
|
|
NY
|
|
|
12822
|
|
|
|
RV
|
|
|
|
200
|
|
|
|
54
|
|
|
|
|
|
|
|
500
|
|
|
|
286
|
|
|
|
100.0
|
%
|
|
|
100.0
|
%
|
|
$
|
2,768
|
|
|
$
|
2,697
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
175 E. Schroon River Road, P.O.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Lake George Escape
|
|
Box 431
|
|
Lake George
|
|
NY
|
|
|
12845
|
|
|
|
RV
|
|
|
|
178
|
|
|
|
30
|
|
|
|
|
|
|
|
576
|
|
|
|
20
|
|
|
|
100.0
|
%
|
|
|
100.0
|
%
|
|
$
|
4,710
|
|
|
$
|
4,898
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Greenwood Village
|
|
370 Chapman Boulevard
|
|
Manorville
|
|
NY
|
|
|
11949
|
|
|
|
MH
|
|
|
|
79
|
|
|
|
14
|
|
|
|
7
|
|
|
|
512
|
|
|
|
512
|
|
|
|
100.0
|
%
|
|
|
100.0
|
%
|
|
$
|
7,098
|
|
|
$
|
6,865
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Brennan Beach
|
|
80 Brennan Beach
|
|
Pulaski
|
|
NY
|
|
|
13142
|
|
|
|
RV
|
|
|
|
201
|
|
|
|
|
|
|
|
|
|
|
|
1,377
|
|
|
|
1,153
|
|
|
|
100.0
|
%
|
|
|
100.0
|
%
|
|
$
|
1,993
|
|
|
$
|
1,977
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Lake George Schroon Valley
|
|
1730 Schroon River Rd
|
|
Warrensburg
|
|
NY
|
|
|
12885
|
|
|
|
RV
|
|
|
|
151
|
|
|
|
|
|
|
|
|
|
|
|
151
|
|
|
|
20
|
|
|
|
100.0
|
%
|
|
|
|
|
|
$
|
2,403
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Sun Valley
|
|
451 E. Maple Grove Rd.
|
|
Bowmansville
|
|
PA
|
|
|
17507
|
|
|
|
RV
|
|
|
|
86
|
|
|
|
|
|
|
|
|
|
|
|
265
|
|
|
|
177
|
|
|
|
100.0
|
%
|
|
|
|
(a)
|
|
$
|
2,375
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Green Acres
|
|
8785 Turkey Ridge Road
|
|
Breinigsville
|
|
PA
|
|
|
18031
|
|
|
|
MH
|
|
|
|
149
|
|
|
|
|
|
|
|
|
|
|
|
595
|
|
|
|
595
|
|
|
|
91.3
|
%
|
|
|
91.9
|
%
|
|
$
|
6,748
|
|
|
$
|
6,584
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Gettysburg Farm
|
|
6200 Big Mountain Rd
|
|
Dover
|
|
PA
|
|
|
17315
|
|
|
|
RV
|
|
|
|
124
|
|
|
|
|
|
|
|
|
|
|
|
265
|
|
|
|
33
|
|
|
|
100.0
|
%
|
|
|
|
(b)
|
|
$
|
1,647
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Timothy Lake South
|
|
RR #6,Box 6627 Timothy Lake Rd
|
|
East Stroudsburg
|
|
PA
|
|
|
18301
|
|
|
|
RV
|
|
|
|
65
|
|
|
|
|
|
|
|
|
|
|
|
327
|
|
|
|
16
|
|
|
|
100.0
|
%
|
|
|
|
(b)
|
|
$
|
1,922
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Timothy Lake North
|
|
RR #6,Box 6627 Timothy Lake Rd
|
|
East Stroudsburg
|
|
PA
|
|
|
18301
|
|
|
|
RV
|
|
|
|
98
|
|
|
|
|
|
|
|
|
|
|
|
323
|
|
|
|
43
|
|
|
|
100.0
|
%
|
|
|
|
(b)
|
|
$
|
1,843
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Circle M
|
|
2111 Millersville Road
|
|
Lancaster
|
|
PA
|
|
|
17603
|
|
|
|
RV
|
|
|
|
103
|
|
|
|
|
|
|
|
|
|
|
|
380
|
|
|
|
44
|
|
|
|
100.0
|
%
|
|
|
|
(b)
|
|
$
|
2,068
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Hershey Preserve
|
|
493 S. Mt. Pleasant Rd
|
|
Lebanon
|
|
PA
|
|
|
17042
|
|
|
|
RV
|
|
|
|
196
|
|
|
|
20
|
|
|
|
|
|
|
|
297
|
|
|
|
35
|
|
|
|
100.0
|
%
|
|
|
|
(b)
|
|
$
|
2,428
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Robin Hill
|
|
149 Robin Hill Rd.
|
|
Lenhartsville
|
|
PA
|
|
|
19534
|
|
|
|
RV
|
|
|
|
44
|
|
|
|
|
|
|
|
|
|
|
|
270
|
|
|
|
181
|
|
|
|
100.0
|
%
|
|
|
|
(a)
|
|
$
|
2,725
|
|
|
|
|
|
24
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total
|
|
|
Number
|
|
|
Annual
|
|
|
Annual
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Develo-
|
|
|
|
|
|
Number
|
|
|
of Annual
|
|
|
Site
|
|
|
Site
|
|
|
Annual
|
|
|
Annual
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
pable
|
|
|
|
|
|
of Sites
|
|
|
Sites
|
|
|
Occupancy
|
|
|
Occupancy
|
|
|
Rent
|
|
|
Rent
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Acres
|
|
|
Acres
|
|
|
Expansion
|
|
|
as of
|
|
|
as of
|
|
|
as of
|
|
|
as of
|
|
|
as of
|
|
|
as of
|
|
Property
|
|
Address
|
|
City
|
|
State
|
|
ZIP
|
|
|
MH/RV
|
|
|
(c)
|
|
|
(d)
|
|
|
Sites(e)
|
|
|
12/31/09
|
|
|
12/31/09
|
|
|
12/31/09
|
|
|
12/31/08
|
|
|
12/31/09
|
|
|
12/31/08
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
PA Dutch County
|
|
185 Lehman Road
|
|
Manheim
|
|
PA
|
|
|
17545
|
|
|
|
RV
|
|
|
|
102
|
|
|
|
|
|
|
|
|
|
|
|
269
|
|
|
|
41
|
|
|
|
100.0
|
%
|
|
|
|
|
|
$
|
1,505
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Spring Gulch
|
|
475 Lynch Road
|
|
New Holland
|
|
PA
|
|
|
17557
|
|
|
|
RV
|
|
|
|
114
|
|
|
|
|
|
|
|
|
|
|
|
420
|
|
|
|
96
|
|
|
|
100.0
|
%
|
|
|
100.0
|
%
|
|
$
|
3,811
|
|
|
$
|
3,709
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Scotrun
|
|
PO Box 428 Route 611
|
|
Scotrun
|
|
PA
|
|
|
18355
|
|
|
|
RV
|
|
|
|
66
|
|
|
|
|
|
|
|
|
|
|
|
178
|
|
|
|
51
|
|
|
|
100.0
|
%
|
|
|
|
|
|
$
|
1,891
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Appalachian
|
|
60 Motel Drive
|
|
Shartlesville
|
|
PA
|
|
|
19554
|
|
|
|
RV
|
|
|
|
86
|
|
|
|
30
|
|
|
|
200
|
|
|
|
357
|
|
|
|
141
|
|
|
|
100.0
|
%
|
|
|
|
|
|
$
|
2,541
|
|
|
|
|
|