Distributions: The General Partner is pleased to maintained the quarterly distribution of $0.19 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 third quarter ending September 30, 2000 was $886,661, a 6.8% increase from the same period of 1999. The General Partner made a distribution of $627,644 for the quarter. The remaining $259,017 was added to reserves, which were $3.4 million as of 9/30/00.
Property Data: Occupancy rates and average rents are outlined in the table below:
| Property | Sites | 9/00 Occupancy | 9/99 Occupancy | 9/00 Avg. Rent | 9/99 Avg. Rent |
| Ardmor Village | 339 |
99% |
97% |
$342 | $329 |
| Camelot Manor | 335 |
96% |
98% |
$339 | $327 |
| Country Roads | 311 |
89% |
94% |
$241 | $253 |
| Dutch Hills | 278 |
99% |
97% |
$338 | $329 |
| El Adobe | 367 |
90% |
95% |
$419 | $403 |
| Paradise Village | 614 |
80% |
83% |
$303 | $291 |
| Stonegate Manor | 308 |
96% |
97% |
$346 | $334 |
| Sunshine Village | 356 |
91% |
92% |
$446 | $434 |
| West Valley | 421 |
96% |
96% |
$479 | $467 |
| COMBINED | 3329 |
93% |
94% |
$361 | $356 |
Consolidated Financial Results: For the third quarter ending 9/30/00 the partnership had total revenues of $3,315,493, 4.0% higher than the third quarter of 1999. Net Operating Income was $1,534,519 or 4.4% greater, and Net Cash Flow was $886,661, 6.8% higher.
Property |
Revenue | NOI | Mortgage Interest | Non Recurring | Net Cash Flow |
| Ardmor Village | $344,646 | $190,138 | $46,364 | $18,001 | $125,773 |
| Camelot Manor | 313,759 | 159,549 | 55,206 | 12,553 | 91,790 |
| Country Roads | 201,832 | (43,128) | 0 | 11 | (54,319) |
| Dutch Hills | 263,718 | 147,124 | 41,106 | 43,702 | 62,316 |
| El Adobe | 426,755 | 259,984 | 88,108 | 6,486 | 165,390 |
| Paradise Village | 427,745 | 63,163 | 0 | 45,729 | 17,434 |
| Stonegate Manor | 292,004 | 145,932 | 48,037 | 17,252 | 80,643 |
| Sunshine Village | 403,261 | 233,586 | 68,350 | 9,526 | 155,710 |
| West Valley | 600,729 | 390,735 | 130,806 | 5,441 |
254,488 |
| Partnership Management | 41,044 | (12,564) | 0 | 0 | (12,564) |
| Total 9/30/00 | 3,315,493 |
1,534,519 |
477,977 |
169,881 |
886,661 |
| Total 9/30/99 | 3,186,739 |
1,469,259 |
479,977 |
(159,404) |
829,788 |
Net Asset Value: The Net Asset Value is now $14.72, an increase of 2.8% over the prior year.
Payments to Affiliates: Property management fees paid to Uniprop, an affiliate, were $163,473 for the quarter, compared to $158,626 for the third quarter of 1999.
Partnership Management Expenses:Partnership Management expense for the quarter was a net $12,564 compared to $28,770 for 1999. Total expenses of $53,608 were offset by income of $41,044.
Genesis Associates, The General Partner
Paul M. Zlotoff, Its General Partner