PRESS RELEASE

LOOMIS, CALIFORNIA                                                                                                                            JUNE 30, 2006

SACRAMENTO AREA RV PARK SELLS FOR 7.5% CAP RATE

The sale of the Loomis RV Park located at 3945 Taylor Road in the City of Loomis, California closed on June 30, 2006 for $4,850,000.  John Grant of Park Brokerage Inc. represented the buyer and seller in the sale.

The RV park contains 81 full hookup RV sites, 122 RV storage spaces, an office/store with an upstairs studio apartment, and two mobile homes occupied by onsite management.  The park was built in 1971 and is located on 9.1 acres of commercially zoned land.  The park has mostly 30 amp electrical service with six sites having 50 amp service.  The park is serviced by municipal sewer and water utilities. 

The RV park has a 90%-95% occupancy rate and the RV storage area is typically 100%.  Most of the tenancy is monthly on a long term basis.  Amenities include a pool, office/store, showers and restrooms, playground, shade trees, picnic area, laundry, dump station, and wifi internet access.

RV park rental rates were Daily $32 and $36, Weekly $194 and $218, and Monthly $475.  RV storage rental rates were $50-$70 per month.  Monthly rental rates were probably $100 below market in the RV park.

Adding a 5% professional management fee of $35,000, the capitalization rate was 7.5%.  The buyer paid cash to new financing $3,475,000.  The property was in average condition at time of sale.

John Grant commented, “Loomis is on the booming Highway 80 corridor approximately a half hour from Sacramento.  The greater Sacramento area has a very small amount of RV sites and demand is extremely strong.  There is huge demand for monthly occupancies from local workers and retirees.  The RV rental rates will continue to escalate”.

John Grant sells and finances manufactured housing communities and RV parks exclusively throughout the states of California, Arizona, and Nevada.  He has sold 126 manufactured housing communities and RV parks in the last 20 years and financed over 100.  John can be reached at 800-987-3363.