Distributions: The General Partner is pleased to increase the quarterly distribution by 10%, to $0.21 per unit. Enclosed please find your distribution check. For custodial accounts, a credit was posted to your account and a confirmation notice is enclosed.
Funds from Operations: Net Cash Flow from Operations available for distributions to all Partners for the first quarter ending March 31, 2001 was $1,106,905, a 3% increase from the same period of 2000. The General Partner made a distribution of $693,711 for the quarter. The remaining $413,19 was added to reserves, which were $3.6 million as of 3/31/0 (prior to quarterly distribution).
|
Property |
Sites |
3/01 Occupancy |
3/00 Occupancy |
3/01 Avg. Rent |
3/00 Avg. Rent |
|
Ardmor Village |
339 |
99% |
98% |
$345 |
$335 |
|
Camelot Manor |
335 |
93% |
94% |
$342 |
$332 |
|
Country Roads |
311 |
88% |
90% |
$241 |
$253 |
|
Dutch Hills |
278 |
99% |
97% |
$341 |
$334 |
|
El Adobe |
367 |
88% |
91% |
$419 |
$404 |
|
Paradise Village |
614 |
78% |
82% |
$303 |
$291 |
|
Stonegate Manor |
308 |
95% |
97% |
$348 |
$340 |
|
Sunshine Village |
356 |
91% |
90% |
$446 |
$447 |
|
West Valley |
421 |
95% |
96% |
$479 |
$467 |
|
COMBINED |
3329 |
92% |
92% |
$363 |
$356 |
Consolidated Financial Results: For the first quarter ending 3/31/01 the partnership had total revenues of $3,292,047 slightly higher than the first quarter of 2000. Net Operating Income was $1,677,017, and Net Cash Flow was $1,106,905.
Property |
Revenue |
NOI
|
Mortgage Interest
|
Net Cash Flow
|
|
Ardmor Village |
$357,865 |
$209,690 |
$45,303 |
$155,760 |
|
Camelot Manor |
309,820 |
171,331 |
53,943 |
111,930 |
|
Country Roads |
190,045 |
43,197 |
0 |
27,849 |
|
Dutch Hills |
263,593 |
132,831 |
39,933 |
84,654 |
|
El Adobe |
407,354 |
258,559 |
86,091 |
167,060 |
|
Paradise Village |
434,786 |
137,000 |
0 |
107,541 |
|
Stonegate Manor |
289,386 |
160,849 |
46,938 |
106,105 |
|
Sunshine Village |
420,256 |
237,941 |
66,787 |
154,086 |
|
West Valley |
581,780 |
391,834 |
127,815 |
258,135 |
|
Partnership Management |
37,162 |
(66,215) |
0 |
(66,215) |
|
Total 3/31/01 |
3,292,047 |
1,677,017 |
466,810 |
1,106,905 |
|
Total 3/31/00 |
3,243,605 |
1,550,809 |
475,008 |
1,075,800 |
Net Asset Value: The Net Asset Value is now $15.12, an increase of 3% over the prior year.
Payments to Affiliates: Property management fees paid to Uniprop, an affiliate, were $162,683 for the quarter ended March 31, 2001.
Partnership Management Expenses: Partnership Management expense for the quarter was a net $66,215. Total expenses of $103,377 were offset by income of $37,162. Expenses were higher than prior quarters because of year-end accounting fees, multiple SEC required mailings and the cost of annual property appraisals.
For any questions, please call 1-800-541-7767 or visit our web-site at www.Uniprop.com
Genesis Associates, The General Partner, Paul M. Zlotoff, It’s General Partner