Attached files
Exhibit 99.1
UNIPROP MANUFACTURED HOUSING COMMUNITIES INCOME FUND II
2014-2015 PROPERTY APPRAISALS
Cushman & Wakefield has completed market value appraisals of Uniprop Income Fund II’s seven properties. The table below sets forth certain appraisal information for each property, as well as a comparison to the original cash purchase price:
| 02/15 | 02/14 | 06/13 | % | |||||||||||||
| Property | Appraisals | Appraisals | Appraisals | Variance | ||||||||||||
| Ardmor Village | $ | 5,250,000 | $ | 5,050,000 | 3.96 | % | ||||||||||
| Camelot Manor | 2,200,000 | 2,250,000 | -2.22 | % | ||||||||||||
| Dutch Hills | 2,000,000 | 2,100,000 | -4.76 | % | ||||||||||||
| El Adobe | 5,700,000 | 6,600,000 | -13.64 | % | ||||||||||||
| Stonegate | 1,900,000 | 2,250,000 | -15.56 | % | ||||||||||||
| Sunshine Village | 11,950,000 | 11,900,000 | .42 | % | ||||||||||||
| West Valley | 22,750,000 | 21,000,000 | 8.33 | % | ||||||||||||
| Sub-Total: | 18,250,000 | 32,900,000 | ||||||||||||||
| Grand Total: | $ | 51,750,000 | $ | 51,150,000 | 1.17 | % | ||||||||||
2014 ESTIMATED NET ASSET VALUE OF UNITS
Based on the February 2015 appraisal of the Partnership's properties, the General Partner has calculated the estimated net asset value of each Unit, based on the following assumptions:
| o | Sale of the Properties in February 2015 for their appraised value. |
| o | Costs and selling expenses at 3.0% of the sale price. |
| o | Tax consequences of a sale are not taken into consideration. |
| o | Cash reserves as of December 31, 2014 |
The estimated net asset value of each unit, assuming the sale of the properties at their present appraised value is $8.94 calculated as follows:
| Aggregate appraised value: | $ | 51,750,000 | ||
| Plus: Cash Reserves | 7,317,400 | |||
| Less: Selling Expenses (3.0%) | 1,552,500 | |||
| Mortgage Debt: | 27,999,960 | |||
| Net Sales Proceeds: | $ | 29,514,940 | ||
| Number of Units: | 3,303,387 | |||
| Net Asset Value per unit: | $ | 8.93 |