Attached files
| file | filename |
|---|---|
| 10-K - 10-K - UNIPROP MANUFACTURED HOUSING COMMUNITIES INCOME FUND II /MI/ | v461241_10k.htm |
| EX-32.2 - EXHIBIT 32.2 - UNIPROP MANUFACTURED HOUSING COMMUNITIES INCOME FUND II /MI/ | v461241_ex32-2.htm |
| EX-31.1 - EXHIBIT 31.1 - UNIPROP MANUFACTURED HOUSING COMMUNITIES INCOME FUND II /MI/ | v461241_ex31-1.htm |
| EX-32.1 - EXHIBIT 32.1 - UNIPROP MANUFACTURED HOUSING COMMUNITIES INCOME FUND II /MI/ | v461241_ex32-1.htm |
| EX-31.2 - EXHIBIT 31.2 - UNIPROP MANUFACTURED HOUSING COMMUNITIES INCOME FUND II /MI/ | v461241_ex31-2.htm |
EXHIBIT 99.1
UNIPROP MANUFACTURED HOUSING COMMUNITIES INCOME FUND II
2017-2016 MARKET VALUES
ARA Manufactured Housing has completed a broker opinion of market value of Uniprop Income Fund II’s two remaining properties. The table below sets forth certain market value information for each property, as well as a comparison to the prior year.
| 02/17 | 02/16 | % | ||||||||||
| Property | (Avg) Market | (Avg) Market | ||||||||||
| Value | Value | Variance | ||||||||||
| Sunshine Village | 24,375,000 | 19,750,000 | 23.42 | % | ||||||||
| West Valley | 31,050,000 | 26,125,000 | 18.85 | % | ||||||||
| Total: | 55,425,000 | 45,875,000 | 20.82 | % |
2016 ESTIMATED NET ASSET VALUE OF UNITS
Based on the February 2017 broker’s opinion of market value for the Sunshine and West Valley 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 2017 for their estimated market 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, 2016, net of liabilities |
The estimated net asset value of each unit, assuming the sale of the properties at their present market value is $13.05 calculated as follows:
| Aggregate market value: | $ | 55,425,000 | ||
| Plus: Cash Reserves | 6,890,331 | |||
| Less: Selling Expenses (3.0%) | 1,662,750 | |||
| Mortgage Debt: | 17,542,594 | |||
| Net Sales Proceeds: | $ | 43,109,987 | ||
| Number of Units: | 3,303,387 | |||
| Net Asset Value per unit: | $ | 13.05 |