Cover Page
Cover Page - USD ($) | 12 Months Ended | ||
Dec. 31, 2019 | Feb. 13, 2020 | Jun. 30, 2019 | |
Cover Page [Abstract] | |||
Document Type | 10-K | ||
Document Period End Date | Dec. 31, 2019 | ||
Entity File Number | 1-12616 | ||
Entity Registrant Name | SUN COMMUNITIES INC | ||
Entity Incorporation, State or Country Code | MD | ||
Entity Tax Identification Number | 38-2730780 | ||
Entity Address, Address Line One | 27777 Franklin Rd, | ||
Entity Address, Address Line Two | Suite 200, | ||
Entity Address, City or Town | Southfield, | ||
Entity Address, State or Province | MI | ||
Entity Address, Postal Zip Code | 48034 | ||
City Area Code | 248 | ||
Local Phone Number | 208-2500 | ||
Title of 12(b) Security | Common Stock, $0.01 par value | ||
Trading Symbol | SUI | ||
Security Exchange Name | NYSE | ||
Entity Well-known Seasoned Issuer | Yes | ||
Entity Voluntary Filers | No | ||
Entity Current Reporting Status | Yes | ||
Entity Interactive Data Current | Yes | ||
Entity Filer Category | Large Accelerated Filer | ||
Entity Small Business | false | ||
Entity Emerging Growth Company | false | ||
Entity Shell Company | false | ||
Entity Public Float | $ 11,363,494,077 | ||
Entity Common Stock, Shares Outstanding | 93,319,200 | ||
Amendment Flag | false | ||
Document Fiscal Year Focus | 2019 | ||
Document Fiscal Period Focus | FY | ||
Entity Central Index Key | 0000912593 | ||
Current Fiscal Year End Date | --12-31 | ||
Document Annual Report | true | ||
Document Transition Report | false |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
Assets | ||
Land | $ 1,414,279 | $ 1,201,945 |
Land improvements and buildings | 6,595,272 | 5,586,250 |
Rental homes and improvements | 627,175 | 571,661 |
Furniture, fixtures and equipment | 282,874 | 201,090 |
Investment property | 8,919,600 | 7,560,946 |
Accumulated depreciation | (1,686,980) | (1,442,630) |
Investment property, net (including $344,300 and $308,171 for consolidated VIEs at December 31, 2019 and December 31, 2018; see Note 8) | 7,232,620 | 6,118,316 |
Cash, cash equivalents and restricted cash | 34,830 | 62,262 |
Marketable securities | 94,727 | 49,037 |
Inventory of manufactured homes | 62,061 | 49,199 |
Notes and other receivables, net | 157,926 | 160,077 |
Collateralized receivables, net | 0 | 106,924 |
Other assets, net (including $23,894 and $19,809 for consolidated VIEs at December 31, 2019 and December 31, 2018; see Note 8) | 219,896 | 164,211 |
Total Assets | 7,802,060 | 6,710,026 |
LIABILITIES | ||
Mortgage loans payable (including $46,993 and $44,172 for consolidated VIEs at December 31, 2019 and December 31, 2018; see Note 8) | 3,180,592 | 2,815,957 |
Secured borrowings on collateralized receivables | 0 | 107,731 |
Lines of credit | 183,898 | 128,000 |
Distributions payable | 71,704 | 63,249 |
Advanced reservation deposits and rent | 133,420 | 133,698 |
Accrued expenses and accounts payable | 127,289 | 106,281 |
Other liabilities (including $13,631 and $6,914 for consolidated VIEs at December 31, 2019 and December 31, 2018; see Note 8) | 81,289 | 51,581 |
Total Liabilities | 3,848,104 | 3,479,112 |
Redeemable Noncontrolling Interest, Equity, Common, Carrying Amount | 27,091 | 21,976 |
Stockholders' Equity | ||
Common stock, $0.01 par value. Authorized: 180,000 shares; Issued and outstanding: 93,180 December 31, 2019 and 86,357 December 31, 2018 | 932 | 864 |
Additional paid-in capital | 5,213,264 | 4,398,949 |
Accumulated other comprehensive loss | (1,331) | (4,504) |
Distributions in excess of accumulated earnings | (1,393,141) | (1,288,486) |
Total Sun Communities, Inc. stockholders' equity | 3,819,724 | 3,106,823 |
Noncontrolling interests | ||
Common and preferred OP units | 47,686 | 53,354 |
Consolidated variable interest entities | 8,542 | 7,145 |
Total noncontrolling interests | 56,228 | 60,499 |
Total Stockholders' Equity | 3,875,952 | 3,167,322 |
Total Liabilities, Temporary Equity and Stockholders' Equity | 7,802,060 | 6,710,026 |
Series A-4 Preferred Stock [Member] | ||
LIABILITIES | ||
Redeemable Noncontrolling Interest, Equity, Preferred, Carrying Amount | 0 | 31,739 |
Series A-4 Preferred Op Units [Member] | ||
LIABILITIES | ||
Redeemable Noncontrolling Interest, Equity, Preferred, Carrying Amount | 0 | 9,877 |
Series D Preferred OP Units [Member] | ||
LIABILITIES | ||
Redeemable Noncontrolling Interest, Equity, Preferred, Carrying Amount | 50,913 | 0 |
Preferred Equity, Mandatorily Redeemable [Member] | ||
LIABILITIES | ||
Preferred OP units - mandatorily redeemable | 35,249 | 35,277 |
Aspen and Series B-3 Preferred OP Units [Member] | ||
LIABILITIES | ||
Mortgage loans payable (including $46,993 and $44,172 for consolidated VIEs at December 31, 2019 and December 31, 2018; see Note 8) | 34,663 | |
Preferred OP units - mandatorily redeemable | $ 34,663 | $ 37,338 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parenthetical) - USD ($) shares in Thousands, $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
Common Stock, Par Value | $ 0.01 | $ 0.01 |
Common stock, shares authorized (in shares) | 180,000 | 180,000 |
Common stock, shares issued (in shares) | 93,174 | 86,357 |
Common Stock, Shares Outstanding | 93,174 | 86,357 |
Investment property, net | $ 7,232,620 | $ 6,118,316 |
Other assets, net (including $23,894 and $19,809 for consolidated VIEs at December 31, 2019 and December 31, 2018; see Note 8) | 219,896 | 164,211 |
Secured debt | 3,180,592 | 2,815,957 |
Other liabilities | 81,289 | 51,581 |
Variable Interest Entity, Primary Beneficiary [Member] | ||
Investment property, net | 344,300 | 308,171 |
Other assets, net (including $23,894 and $19,809 for consolidated VIEs at December 31, 2019 and December 31, 2018; see Note 8) | 23,894 | 19,809 |
Secured debt | 46,993 | 44,172 |
Other liabilities | $ 13,631 | $ 6,914 |
Series A-4 Preferred Stock [Member] | ||
Series A-4 Preferred Stock, Par Value | $ 0.01 | $ 0.01 |
Temporary Equity, Shares Issued | 0 | 1,063 |
Temporary Equity, Shares Outstanding | 0 | 1,063 |
Consolidated Statements Of Oper
Consolidated Statements Of Operations - USD ($) shares in Thousands, $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Revenues | |||
Income from real property | $ 925,664 | $ 825,973 | $ 742,228 |
Revenue from home sales | 181,936 | 166,031 | 127,408 |
Rental home revenue | 57,572 | 53,657 | 50,549 |
Ancillary revenue | 66,881 | 54,107 | 37,511 |
Interest | 17,857 | 20,852 | 21,179 |
Brokerage commissions and other revenues, net | 14,127 | 6,205 | 3,695 |
Total Revenues | 1,264,037 | 1,126,825 | 982,570 |
Expenses | |||
Property operating and maintenance | 266,378 | 236,097 | 210,278 |
Real estate taxes | 61,880 | 56,555 | 52,288 |
Cost of home sales | 134,357 | 123,333 | 95,114 |
Rental home operating and maintenance | 21,995 | 23,304 | 22,160 |
Ancillary expenses | 47,432 | 38,043 | 27,450 |
Home selling expenses | 14,690 | 15,722 | 12,457 |
General and administrative | 93,964 | 81,429 | 83,973 |
Catastrophic weather related charges | 1,737 | 92 | 8,352 |
Depreciation and amortization | 328,067 | 287,262 | 261,536 |
Loss on extinguishment of debt | (16,505) | (1,190) | (4,676) |
Interest | 133,153 | 130,556 | 128,471 |
Interest on mandatorily redeemable preferred OP units / equity | 4,698 | 3,694 | 3,114 |
Total Expenses | 1,124,856 | 997,277 | 909,869 |
Income Before Other Items | 139,181 | 129,548 | 72,701 |
Gain / (loss) on remeasurement of marketable securities | 34,240 | (3,639) | 0 |
Other income / (expense), net | 3,457 | (6,453) | 8,982 |
Income from nonconsolidated affiliates | 1,374 | 790 | 0 |
Current tax expense | (1,095) | (595) | (446) |
Deferred tax benefit | 222 | 507 | 582 |
Net income | 177,379 | 120,158 | 81,819 |
Less: Preferred return to Series A-1 preferred OP units | (6,058) | (4,486) | (4,581) |
Net Income (Loss) Attributable to Noncontrolling Interest | 9,768 | 8,443 | 5,055 |
Net income attributable to Sun Communities, Inc. | 161,553 | 107,229 | 72,183 |
Less: Preferred stock distributions | (1,288) | (1,736) | (7,162) |
Net income attributable to Sun Communities, Inc. common stockholders | $ 160,265 | $ 105,493 | $ 65,021 |
Weighted average common shares outstanding: | |||
Basic (in shares) | 88,460 | 81,387 | 76,084 |
Diluted (in shares) | 88,915 | 82,040 | 76,711 |
Earnings (loss) per share: | |||
Basic (in USD per share) | $ 1.80 | $ 1.29 | $ 0.85 |
Diluted (in USD per share) | $ 1.80 | $ 1.29 | $ 0.85 |
Consolidated Statements Of Comp
Consolidated Statements Of Comprehensive Income - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Statement of Comprehensive Income [Abstract] | |||
Net Income | $ 177,379 | $ 120,158 | $ 81,819 |
Foreign currency translation gain / (loss) adjustment | 3,328 | (5,878) | 4,527 |
Total Comprehensive Income | 180,707 | 114,280 | 86,346 |
Less: Comprehensive Income attributable to noncontrolling interests | (9,923) | (8,171) | (5,299) |
Comprehensive Income attributable to Sun Communities, Inc. | $ 170,784 | $ 106,109 | $ 81,047 |
Consolidated Statement Of Stock
Consolidated Statement Of Stockholders' Equity - USD ($) $ in Thousands | Total | Common Stock [Member] | Additional Paid-in Capital | Retained Earnings [Member] | Accumulated Other Comprehensive (Loss) Income | Noncontrolling Interests | Stockholders' Equity, Total [Member] | Total Equity [Member] | AOCI Including Portion Attributable to Noncontrolling Interest [Member] | Series A Preferred Stock | Common OP Units [Member] | Series A-4 Preferred Stock [Member] | Series A-4 Preferred Stock [Member]Additional Paid-in Capital | Series A-4 Preferred Stock [Member]Stockholders' Equity, Total [Member] | Series A-4 Preferred Stock [Member]Total Equity [Member] | Series A-4 Preferred Op Units [Member]Additional Paid-in Capital | Series A-4 Preferred Op Units [Member]Stockholders' Equity, Total [Member] | Series A-4 Preferred Op Units [Member]Total Equity [Member] | Series D Preferred OP Units [Member] |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||||||||||||||
Temporary Equity, Carrying Amount, Including Portion Attributable to Noncontrolling Interests | $ 66,944 | ||||||||||||||||||
Balance at Dec. 31, 2016 | $ 732 | $ 3,321,441 | $ (1,023,415) | $ 66,616 | $ 2,362,227 | $ 2,429,171 | $ (3,181) | $ 34 | |||||||||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||||||||||||||
Stock Issued During Period, Value, Conversion of Convertible Securities | 1 | 3,556 | (3,298) | 259 | 0 | ||||||||||||||
Issuance of common stock from exercise of options, net | 514,024 | 516,088 | 516,088 | ||||||||||||||||
Net proceeds (in millions) | 29,700 | 63 | 2,001 | ||||||||||||||||
Conversion of Series A-4 preferred stock | 4,720 | 1 | 4,719 | 4,720 | 0 | ||||||||||||||
Temporary Equity, Accretion to Redemption Value | (5,166) | $ (13,093) | |||||||||||||||||
Adjustments to Additional Paid in Capital, Redemption of Stock | $ 3,867 | $ 3,867 | $ 16,960 | $ 2,571 | $ 2,571 | $ 7,737 | |||||||||||||
Reclassifications of Temporary to Permanent Equity | $ (259) | (4,720) | |||||||||||||||||
Stock Redeemed or Called During Period, Value | (84,966) | (85,000) | (85,000) | (34) | |||||||||||||||
Share-based compensation - amortization and forfeitures | 12,398 | 297 | 12,695 | 12,695 | |||||||||||||||
Net Income | 81,819 | 76,765 | 4,849 | 81,614 | 81,819 | ||||||||||||||
Temporary Equity, Dividends | (845) | ||||||||||||||||||
Unrealized gain on interest rate swaps | 244 | 4,527 | 4,527 | 4,283 | |||||||||||||||
Temporary Equity, Net Income | 205 | ||||||||||||||||||
Distributions | 215,648 | 11,257 | 226,905 | 227,750 | |||||||||||||||
Settlement of membership interest | 6,201 | (6,101) | 100 | 100 | |||||||||||||||
Balance at Dec. 31, 2017 | 797 | 3,758,533 | (1,162,001) | 65,256 | 2,663,687 | 2,706,753 | 1,102 | 0 | |||||||||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||||||||||||||
Temporary Equity, Carrying Amount, Including Portion Attributable to Noncontrolling Interests | 43,066 | ||||||||||||||||||
Stock Issued During Period, Value, Conversion of Convertible Securities | 1 | 1,514 | (1,173) | 342 | 0 | ||||||||||||||
Issuance of common stock from exercise of options, net | 623,474 | 623,540 | 623,540 | ||||||||||||||||
Net proceeds (in millions) | 66 | 0 | |||||||||||||||||
Conversion of Series A-4 preferred stock | 675 | 0 | 675 | 675 | 0 | ||||||||||||||
Reclassifications of Temporary to Permanent Equity | (342) | (675) | |||||||||||||||||
Share-based compensation - amortization and forfeitures | 14,753 | 313 | 15,066 | 15,066 | |||||||||||||||
Temporary Equity, Acquisition Of Equity Interests | 21,976 | 21,976 | |||||||||||||||||
Net Income | 120,158 | 111,715 | 8,202 | 119,917 | 120,158 | ||||||||||||||
Temporary Equity, Dividends | (674) | ||||||||||||||||||
Unrealized gain on interest rate swaps | (272) | (5,878) | (5,878) | (5,606) | |||||||||||||||
Temporary Equity, Net Income | 241 | ||||||||||||||||||
Distributions | 238,513 | 11,514 | 250,027 | 250,701 | |||||||||||||||
Balance at Dec. 31, 2018 | 3,167,322 | 864 | 4,398,949 | $ (1,288,486) | 60,499 | 3,167,322 | 3,230,914 | (4,504) | 0 | ||||||||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||||||||||||||
Temporary Equity, Carrying Amount, Including Portion Attributable to Noncontrolling Interests | 63,592 | ||||||||||||||||||
Stock Issued During Period, Value, Conversion of Convertible Securities | 5 | 11,305 | (1,658) | 9,652 | 0 | ||||||||||||||
Issuance of common stock from exercise of options, net | 754,116 | 754,174 | 754,174 | ||||||||||||||||
Net proceeds (in millions) | 58 | 0 | |||||||||||||||||
Conversion of Series A-4 preferred stock | 31,739 | 5 | 31,734 | 31,739 | 0 | ||||||||||||||
Reclassifications of Temporary to Permanent Equity | $ (9,652) | $ (31,739) | |||||||||||||||||
Share-based compensation - amortization and forfeitures | 17,160 | 322 | 17,482 | 17,482 | |||||||||||||||
Temporary Equity, Acquisition Of Equity Interests | 4,451 | (553) | 3,898 | ||||||||||||||||
Net Income | 177,379 | 167,611 | 8,169 | 175,780 | 177,379 | ||||||||||||||
Temporary Equity, Dividends | (2,177) | ||||||||||||||||||
Unrealized gain on interest rate swaps | 155 | 3,328 | 3,328 | 3,173 | |||||||||||||||
Temporary Equity, Net Income | 1,599 | ||||||||||||||||||
Distributions | $ 272,035 | 10,937 | 282,972 | 285,149 | |||||||||||||||
Balance at Dec. 31, 2019 | 3,875,952 | $ 932 | $ 5,213,264 | $ (1,393,141) | $ 56,228 | $ 3,875,952 | 3,953,956 | $ (1,331) | $ 0 | ||||||||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||||||||||||||
Temporary Equity, Stock Issued During Period, Value, New Issues | $ 51,930 | $ 51,930 | |||||||||||||||||
Temporary Equity, Carrying Amount, Including Portion Attributable to Noncontrolling Interests | $ 78,004 |
Consolidated Statements Of Cash
Consolidated Statements Of Cash Flows - USD ($) | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Operating Activities | |||
Net Income | $ 177,379,000 | $ 120,158,000 | $ 81,819,000 |
Adjustments to reconcile net income to net cash provided by operating activities: | |||
Gain on disposition of assets | (11,085,000) | (9,376,000) | (9,338,000) |
Unrealized foreign currency translation (gain) / loss | (4,557,000) | 8,234,000 | (6,146,000) |
Remeasurement of marketable securities | (34,240,000) | 3,639,000 | 0 |
Contingent liability remeasurement (gain) / loss | 1,503,000 | (2,336,000) | (3,035,000) |
Asset impairment charges | 0 | 0 | 742,000 |
Share-based compensation | 17,482,000 | 15,066,000 | 12,695,000 |
Depreciation and amortization | 313,966,000 | 274,432,000 | 256,193,000 |
Deferred tax (benefit) expense | 222,000 | 507,000 | 582,000 |
Amortization of below market lease | (7,442,000) | (7,399,000) | (7,402,000) |
Amortization of debt premium | (4,962,000) | (6,353,000) | (8,205,000) |
Amortization of deferred financing costs | 2,988,000 | 3,233,000 | 2,910,000 |
Amortization of ground lease intangibles | 752,000 | 1,638,000 | 1,914,000 |
Loss on extinguishment of debt | 16,505,000 | 1,190,000 | 4,676,000 |
Income from nonconsolidated affiliates | (1,374,000) | (790,000) | 0 |
Distributions from nonconsolidated affiliates | 3,049,000 | 0 | 0 |
Change in notes receivable from financed sales of inventory homes, net of repayments | 2,988,000 | (2,299,000) | (26,193,000) |
Change in inventory, other assets and other receivables, net | (44,322,000) | (39,514,000) | (33,031,000) |
Change in other liabilities | 48,326,000 | 4,098,000 | (9,034,000) |
Net Cash Provided By Operating Activities | 476,734,000 | 363,114,000 | 257,983,000 |
Investing Activities | |||
Investment in properties | (569,261,000) | (389,399,000) | (288,537,000) |
Acquisitions of properties, net of cash acquired | (472,681,000) | (320,268,000) | (120,377,000) |
Proceeds from dispositions of assets and depreciated homes, net | 61,337,000 | 55,855,000 | 8,575,000 |
Issuance of notes and other receivables | (18,122,000) | (216,000) | (3,918,000) |
Repayments of notes and other receivables | 4,542,000 | 4,312,000 | 2,615,000 |
Investments in nonconsolidated affiliates | (60,742,000) | (84,997,000) | 0 |
Distributions from nonconsolidated affiliates | 44,470,000 | 970,000 | 0 |
Net Cash Used For Investing Activities | (1,010,457,000) | (733,743,000) | (401,642,000) |
Financing Activities | |||
Issuance of common stock, OP units, and preferred OP units, net | 440,782,000 | 623,540,000 | 487,677,000 |
Borrowings on lines of credit | 3,881,543,000 | 1,542,677,000 | 661,000,000 |
Payments on lines of credit | (3,883,950,000) | (1,456,486,000) | (719,536,000) |
Proceeds from issuance of other debt | 923,721,000 | 250,000,000 | 185,153,000 |
Payments on other debt | (552,868,000) | (298,754,000) | (124,427,000) |
Prepayment penalty on debt | (18,838,000) | (2,024,000) | (6,019,000) |
Distributions to stockholders, OP unit holders, and preferred OP unit holders | (276,697,000) | (242,813,000) | (224,483,000) |
Payments for deferred financing costs | (6,756,000) | (2,130,000) | (3,650,000) |
Net Cash Provided By Financing Activities | 505,880,000 | 409,905,000 | 141,557,000 |
Effect of exchange rate changes on cash, cash equivalents and restricted cash | 411,000 | (523,000) | 298,000 |
Net change in cash, cash equivalents and restricted cash | (27,432,000) | 38,753,000 | (1,804,000) |
Cash, cash equivalents and restricted cash, beginning of period | 62,262,000 | 23,509,000 | 25,313,000 |
Cash, cash equivalents and restricted cash, end of period | 34,830,000 | 62,262,000 | 23,509,000 |
Supplemental Information | |||
Cash paid for interest (net of capitalized interest of $7,943, $4,328 and $2,755 respectively) | 134,990,000 | 126,153,000 | 124,046,000 |
Cash paid for interest on mandatorily redeemable debt | 4,698,000 | 2,551,000 | 3,114,000 |
Cash paid (refunds) for income taxes | 948,000 | 461,000 | (194,000) |
Noncash investing and financing activities | |||
Reduction in secured borrowing balance | 107,731,000 | 21,451,000 | 23,449,000 |
Change in distributions declared and outstanding | 8,452,000 | 7,889,000 | 3,267,000 |
Conversion of common and preferred OP units | 11,310,000 | 1,515,000 | 3,556,000 |
Conversion of Series A-4 preferred stock | 31,739,000 | 675,000 | 4,720,000 |
Capital lease | 0 | 0 | 4,114,000 |
Noncash investing and financing activities at the date of acquisition | |||
Acquisitions - Common stock and OP units issued | 313,391,000 | 0 | 28,410,000 |
Acquisitions - Equity Interests - NG Sun LLC (see Note 8) | 0 | 21,976,000 | 0 |
Acquisitions - Debt | 61,900,000 | 3,120,000 | 4,592,000 |
Acquisitions - Escrow | 392,000 | 0 | 0 |
Series B-3 Preferred OP Units | |||
Financing Activities | |||
Redemption of Series B-3 preferred OP units | (2,675,000) | (4,105,000) | (4,460,000) |
Series A-4 Preferred Stock and OP Units | |||
Financing Activities | |||
Redemption of Series B-3 preferred OP units | 0 | 0 | (85,000,000) |
Distributions to stockholders, OP unit holders, and preferred OP unit holders | 0 | 0 | (24,698,000) |
Series A Preferred Stock | |||
Financing Activities | |||
Proceeds received from return of prepaid deferred financing costs | 1,618,000 | 0 | 0 |
Noncash investing and financing activities at the date of acquisition | |||
Acquisitions - Preferred Equity - Sun NG RV Resorts LLC (see Note 8) | 0 | 35,277,000 | 0 |
Series D Preferred Stock | |||
Noncash investing and financing activities at the date of acquisition | |||
Acquisitions - Series D preferred interest | $ 51,930,000 | $ 0 | $ 0 |
Consolidated Statements Of Ca_2
Consolidated Statements Of Cash Flows Consolidated Statements of Cash Flows (Parenthetical) - USD ($) | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Supplemental Cash Flow Elements [Abstract] | |||
Interest Costs Capitalized | $ 7,943 | $ 4,328 | $ 2,755 |
Significant Accounting Policies
Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2019 | |
Accounting Policies [Abstract] | |
Significant Accounting Policies [Text Block] | nc., a Maryland corporation, and all wholly-owned or majority-owned and controlled subsidiaries, including Sun Communities Operating Limited Partnership, a Michigan limited partnership (the “Operating Partnership”), and Sun Home Services, Inc., a Michigan corporation (“SHS”) are referred to herein as the “Company,” “us,” “we,” and “our”. We are a fully integrated, self-administered and self-managed real estate investment trust (“REIT”). We own, operate, or have an interest in a portfolio, and develop manufactured housing (“MH”) and recreational vehicle (“RV”) communities throughout the United States (“U.S.”). As of December 31, 2019 , we owned, operated or had an interest in a portfolio of 422 developed properties located in 33 states and Ontario, Canada (collectively the “Properties”), including 266 MH communities, 122 RV communities, and 34 communities containing both MH and RV sites. As of December 31, 2019 , the Properties contained an aggregate of 141,293 developed sites comprised of 93,821 developed MH sites, 26,056 annual RV sites, and 21,416 transient RV sites. There are approximately 10,300 additional MH and RV sites suitable for development. Principles of Consolidation We consolidate our majority-owned subsidiaries in which we have the ability to control the operations of our subsidiaries and all variable interest entities with respect to which we are the primary beneficiary. We also consolidate entities in which we have a direct or indirect controlling or voting interest. All significant inter-company transactions have been eliminated. Any subsidiaries in which we have an ownership percentage equal to or greater than 50%, but less than 100%, or considered a VIE, represent subsidiaries with a noncontrolling interest. The noncontrolling interests in our subsidiaries are allocated their proportionate share of the subsidiaries’ financial results. This allocation is recorded as the noncontrolling interest in our Consolidated Financial Statements. Certain prior period amounts have been reclassified on our Consolidated Financial Statements to conform with current year presentation. Use of Estimates The preparation of financial statements in conformity with U.S. generally accepted accounting principles (“GAAP”) requires management to make estimates and assumptions related to the reported amounts included in our Consolidated Financial Statements and accompanying footnotes thereto. Actual results could differ from those estimates. Investment Property Investment property is recorded at cost, less accumulated depreciation. We review the carrying value of long-lived assets to be held and used for impairment quarterly or whenever events or changes in circumstances indicate a possible impairment. Our primary indicator for potential impairment is based on NOI trends period over period. Circumstances that may prompt a test of recoverability may include a significant decrease in the anticipated market price, an adverse change to the extent or manner in which an asset may be used or in its physical condition or other such events that may significantly change the value of the long-lived asset. An impairment loss is recognized when a long-lived asset’s carrying value is not recoverable and exceeds estimated fair value. We estimate the fair value of our long-lived assets based on discounted future cash flows and any potential disposition proceeds for a given asset. Forecasting cash flows requires management to make estimates and assumptions about such variables as the estimated holding period, rental rates, occupancy, development, and operating expenses during the holding period, as well as disposition proceeds. Management uses its best judgment when developing these estimates and assumptions, but the development of the projected future cash flows is based on subjective variables. Future events could occur which would cause us to conclude that impairment indicators exist, and significant adverse changes in national, regional, or local market conditions or trends may cause us to change the estimates and assumptions used in our impairment analysis. The results of an impairment analysis could be material to our financial statements. We periodically receive offers from interested parties to purchase certain of our properties. These offers may be the result of an active program initiated by us to sell the property, or from an unsolicited offer to purchase the property. The typical sale process involves a significant negotiation and due diligence period between us and the potential purchaser. As the intent of this process is to determine if there are items that would cause the purchaser to be unwilling to purchase or we would be unwilling to sell, it is not unusual for such potential offers of sale/purchase to be withdrawn as such issues arise. We classify assets as “held for sale” when it is probable, in our opinion, that a sale transaction will be completed within one year. This typically occurs when all significant contingencies surrounding the closing have been resolved, which often corresponds with the closing date. We allocate the purchase price of properties to net tangible and identified intangible assets acquired based on their fair values. In making estimates of fair values for purposes of allocating purchase price, we utilize an independent third-party to value the net tangible and identified intangible assets in connection with the acquisition of the respective property. We provide historical and pro forma financial information obtained about each property, as well as any other information needed in order for the third-party to ascertain the fair value of the tangible and intangible assets (including in-place leases) acquired. On January 1, 2018, we adopted Financial Accounting Standards Board (“FASB”) Accounting Standards Update (“ASU”) 2017-01, “Business Combinations (Topic 805): Clarifying the Definition of a Business.” This update clarifies the definition of a business with the objective of adding guidance to assist entities with evaluating whether transactions should be accounted for as acquisitions (or disposals) of assets or businesses. The definition of a business affects many areas of accounting including acquisitions, disposals, goodwill, and consolidation. Upon adoption of this standard, substantially all of our property acquisitions are accounted for as asset acquisitions. We allocate the purchase price of these properties on a relative fair value basis and capitalize direct acquisition related costs as part of the purchase price. Acquisition costs that do not meet the criteria to be capitalized are expensed as incurred and presented as General and administrative costs in our Consolidated Statements of Operations. Capitalized Costs We capitalize certain costs incurred in connection with the development, redevelopment, capital enhancement and leasing of our properties. Management is required to use professional judgment in determining whether such costs meet the criteria for immediate expense or capitalization. The amounts are dependent on the volume and timing of such activities and the costs associated with such activities. Maintenance, repairs and minor improvements to properties are expensed when incurred. Renovations and improvements to properties are capitalized and depreciated over their estimated useful lives and real estate project costs related to the development of new community or expansion sites are capitalized until the property is substantially complete and available for occupancy. Costs incurred to initially renovate pre-owned and repossessed homes that we acquire for our Rental Program are capitalized and the majority of costs incurred to refurbish the homes at turnover and repair the homes while occupied are expensed, unless they extend the life of the home. Certain expenditures to dealers and residents related to obtaining lessees in our communities are capitalized and amortized based on the anticipated term of occupancy of a resident. Costs associated with implementing our computer systems are capitalized and amortized over the estimated useful lives of the related software and hardware. Costs incurred to obtain new debt financing are capitalized and amortized over the terms of the related loan agreement using the straight-line method (which approximates the effective interest method). Cash and Cash Equivalents We consider all highly liquid investments with a maturity of three months or less from the date of purchase to be cash and cash equivalents. At December 31, 2019 and 2018 , $22.1 million and $50.3 million of Cash and Cash Equivalents, respectively, was included as a component of Cash, cash equivalents and restricted cash on the Consolidated Balance Sheets. The maximum amount of credit risk arising from cash deposits in excess of federally insured amounts was approximately $22.9 million and $49.5 million as of December 31, 2019 and 2018 , respectively. Restricted Cash Restricted cash consists of amounts primarily held in deposit for tax, insurance and repair escrows held by lenders in accordance with certain debt agreements. At December 31, 2019 and 2018 , $12.7 million and $12.0 million of restricted cash, respectively, was included as a component of Cash, cash equivalents and restricted cash on the Consolidated Balance Sheets On January 1, 2018, we adopted ASU 2016-18 “Statement of Cash Flows (Topic 230): Restricted Cash.” This update required inclusion of restricted cash and restricted cash equivalents with cash and cash equivalents when reconciling the beginning-of-period and end-of-period total amounts shown on the statement of cash flows. Upon adoption of this standard, changes in restricted cash are reported in our Consolidated Statements of Cash Flows as operating, investing or financing activities based on the nature of the underlying activity. Marketable Securities Marketable securities are recorded at fair value with changes in fair value recorded in Remeasurement of marketable securities within the Consolidated Statement of Operations. We hold less than 10 percent ownership in Ingenia Communities Group. The value of marketable securities as of December 31, 2019 was $94.7 million and is disclosed on the Consolidated Balance Sheet. Inventory Inventory of manufactured homes is stated at lower of specific cost or market based on the specific identification method. Investments in Nonconsolidated Affiliates We apply the equity method of accounting to entities in which we do not have a direct or indirect controlling interest or for variable interest entities where we are not considered the primary beneficiary but can exercise influence over the entity with respect to its operations and major decisions. The cost method is applied when (i) the investment is minimal (typically less than 5.0% ) and (ii) our investment is passive. Our exposure to losses associated with unconsolidated joint ventures is primarily limited to the carrying value of these investments. Accordingly, distributions from a joint venture in excess of our carrying value are recognized in earnings. We review the carrying value of our investments in nonconsolidated affiliates for other than temporary impairment whenever events or changes in circumstances indicate a possible impairment. Financial condition, operational performance, and other economic trends are among the factors we consider when we evaluate the existence of impairment indicators. Refer to Note 7 , “ Investments in Nonconsolidated Affiliates ,” for additional information. Notes and Other Receivables Notes receivable includes both installment loans for manufactured homes purchased by the Company as well as transferred loans that have not met the requirements for sale accounting which are presented herein as collateralized receivables. The notes are collateralized by the underlying manufactured home sold. For purposes of accounting policy, all notes receivable are considered one homogeneous segment, as the notes are typically underwritten using the same requirements and terms. Notes receivable are reported at their outstanding unpaid principal balance adjusted for an allowance for loan loss. Interest income is accrued based upon the unpaid principal balance of the loans. Past due status of our notes receivable is determined based upon the contractual terms of the note. When a note receivable becomes 60 days delinquent, we stop accruing interest on the note receivable. The interest on nonaccrual loans is accounted for on the cash basis until qualifying for return to accrual. Loans are returned to accrual when all principal and interest amounts contractually due are brought current and future payments are reasonably assured. The ability to collect our notes receivable is measured based on current and historical information and events. We consider numerous factors including: length of delinquency, estimated costs to lease or sell, and repossession history. Our experience supports a high recovery rate for notes receivable; however, there is some degree of uncertainty about the recoverability of our investment in these notes receivable. We are generally able to recover our recorded investment in uncollectible notes receivable by repossessing the homes on the notes retained by us and repurchasing the homes on the collateralized receivables, and subsequently selling or leasing these homes to potential residents in our communities. We have established a loan loss reserve based on our estimated unrecoverable costs associated with repossessed/repurchased homes. We estimate our unrecoverable costs to be the repurchase price of the home collateralizing the note receivable plus repair and remarketing costs in excess of the estimated selling price of the home being repossessed. A historical average of this excess cost is calculated based on prior repossessions/repurchases and is applied to our estimated annual future repossessions to create the allowance for both installment and collateralized notes receivable. We evaluate the collectability of a loan based on our ability to collect the scheduled payments of principal and interest when due according to the contractual terms of the loan agreement. We generally see that if the obligor is delinquent on the loan they are also delinquent on site rent. If the scheduled payment is delinquent beyond the grace period required by law or by the loan agreement, notice is given to start the collection process. A specific allowance is estimated on the past due loans based on historical delinquency data and current delinquency levels. Credit quality is evaluated at the inception of the receivable. Factors that are considered in order to determine the credit quality of the applicant include, but are not limited to: rental payment history; home debt to income ratio; loan value to the collateralized asset; total debt to income ratio; length of employment; previous landlord references; and FICO scores. Other receivables are generally comprised of amounts due from residents for rent and related charges, home sale proceeds receivable from sales near year end and various other miscellaneous receivables. Accounts receivable from residents are typically due within 30 days and stated at amounts due from residents net of an allowance for doubtful accounts. Accounts outstanding longer than the contractual payment terms are considered past due. We evaluate the recoverability of our receivables whenever events occur or there are changes in circumstances such that management believes it is probable that it will be unable to collect all amounts due according to the contractual terms of the loan and lease agreements. Receivables related to community rents are reserved when we believe that collection is less than probable, which is generally after a resident balance reaches 60 to 90 days past due. Intangible Assets The Company amortizes identified intangible assets that are determined to have finite lives over the period the assets are expected to contribute directly or indirectly to the future cash flows of the property or business. The carrying amounts of the identified intangible assets are included in Other assets, net on our Consolidated Balance Sheets. Refer to Note 6 , “ Intangible Assets ,” for additional information. Deferred Taxes We are subject to certain state taxes that are considered to be income taxes and have certain subsidiaries that are taxed as regular corporations for U.S. (i.e., federal, state, local, etc.) and non-U.S. income tax purposes. Deferred tax assets or liabilities are recognized for temporary differences between the tax basis of assets and liabilities and their carrying amounts in the financial statements and net operating loss carryforwards in certain subsidiaries, including those domiciled in foreign jurisdictions, which may be realized in future periods if the respective subsidiary generates sufficient taxable income. Deferred tax assets and liabilities are measured using currently enacted tax rates. A valuation allowance is established if, based on the available evidence, it is considered more likely than not that some portion or all of the deferred tax assets will not be realized. Refer to Note 13 , “ Income Taxes ,” for additional information. Deferred Financing Costs Deferred financing costs include fees and costs incurred to obtain long-term financing. The costs are amortized over the terms of the respective loans. Unamortized deferred financing costs are written off when debt is retired before the maturity date. Upon amendment of the line of credit or refinancing of mortgage debt, unamortized deferred financing costs and discount and premium costs are accounted for in accordance with FASB Accounting Standards Codification (“ASC”) 470-50-40, “Modifications and Extinguishments.” At December 31, 2019 and 2018 , $4.5 million and $4.7 million of line of credit deferred financing costs, respectively, were presented as a component of Other asset, net on the Consolidated Balance Sheets. At December 31, 2019 and 2018, $7.9 million and $2.4 million of deferred financing costs and discount and premium costs, respectively, were netted and presented as a component of Mortgage loans payable on the Consolidated Balance Sheets. Temporary Equity Temporary equity includes preferred securities that are redeemable for cash at the option of the holder or upon the occurrence of an event that is not solely within our control based on a fixed or determinable price. These preferred securities are not mandatorily redeemable for cash nor do they contain a fixed maturity date. Temporary equity is classified between Liabilities and Stockholders’ Equity on the Consolidated Balance Sheets. Share-Based Compensation Share-based compensation cost for service vesting restricted stock awards is measured based on the closing share price of our common stock on the date of grant. We measure the fair value of awards with performance conditions based on an estimate of shares expected to vest using the closing price of our common stock as of the grant date. If it is not probable that the performance conditions will be satisfied, we do not recognize compensation expense. We estimate the fair value of share-based compensation for restricted stock with market conditions using a Monte Carlo simulation. We recognize compensation cost ratably over each tranche of shares based on the fair value estimated by the model. Share-based compensation cost for stock options is estimated at the grant date based on each option’s fair-value as calculated by the Binomial (lattice) option-pricing model. The Binomial (lattice) option-pricing model incorporates various assumptions including expected volatility, expected life, dividend yield, and interest rates. Refer to Note 11 , “ Share-Based Compensation ” for additional information. Fair Value of Financial Instruments Our financial instruments consist of cash, cash equivalents and restricted cash, accounts and notes receivable, marketable securities, accounts payable, debt, and contingent consideration liability. We utilize fair value measurements to record fair value adjustments to certain assets and liabilities and to determine fair value disclosures, pursuant to FASB ASC 820, “Fair Value Measurements and Disclosures.” Refer to Note 16 , “ Fair Value of Financial Instruments ,” for additional information regarding the estimates and assumptions used to estimate the fair value of each financial instrument class. Revenue Recognition Rental income attributable to site and home leases is recorded on a straight-line basis when earned from tenants. The majority of our leases entered into by tenants are generally for one year terms, but may range from month-to-month to two years and are renewable by mutual agreement from us and the resident, or in some cases, as provided by state statute. A small portion of tenant leases are for greater than two years. Revenue from the sale of manufactured homes is recognized upon transfer of title at the closing of the sales transaction. Interest income on notes receivable is recorded on a level yield basis over the life of the notes. We report real estate taxes collected from residents and remitted to taxing authorities in revenue. On January 1, 2018, we adopted ASU 2014-09 “ Revenue from Contracts with Customers (Topic 606)” and the related updates subsequently issued by the FASB. The adoption of ASU 2014-09 did not result in any changes to our accounting policies for revenue recognition. Refer to Note 2 , “ Revenue ,” for additional information. Advertising Costs Advertising costs are expensed as incurred. As of December 31, 2019 , 2018 and 2017 , we had advertising costs of $6.7 million , $6.2 million and $5.9 million , respectively. Depreciation and Amortization Depreciation and amortization are computed on a straight-line basis over the estimated useful lives of the assets. Useful lives are thirty years for land improvements and buildings, ten years for rental homes, seven years for furniture, fixtures and equipment, four years for computer hardware and software, and seven years to twenty years for intangible assets. Foreign Currency The assets and liabilities of our Australian and Canadian operations, where the functional currency is the Australian dollar and Canadian dollar, are translated into U.S. dollars using the exchange rate in effect as of the balance sheet date. Income statement amounts are translated at the average exchange rate prevailing during the period. The resulting translation adjustments are recorded as a component of accumulated other comprehensive income (loss). Foreign currency exchange gains and losses arising from fluctuations in currency exchange rates on transactions and the effects of remeasurement of monetary balances denominated in currencies other than the functional currency are recorded in earnings. For the year ended December 31, 2019 , we recorded a foreign currency translation gain of $4.5 million within Other income / (expense), net on our Consolidated Statements of Operations, as compared to a foreign currency translation loss of $8.4 million , for the year ended December 31, 2018 and $5.9 million foreign currency translation gain for the year ended December 31, 2017 . Accounting for leases We determine if an arrangement is a lease at inception. Our operating lease agreements are primarily for executive office spaces, ground leases at certain communities, and certain equipment leases. The ROU asset and liabilities are included within Other assets, net and Other liabilities on the Consolidated Balance Sheets. For operating leases with a term greater than one year, the company recognizes the ROU assets and liabilities related to the lease payments on the Consolidated Balance Sheets. The lease liabilities are initially and subsequently measured at the present value of the unpaid lease payments at the lease commencement date. The ROU assets represent our right to use the underlying assets for the term of the lease and the lease liabilities represent our obligation to make lease payments arising for the agreements. The ROU asset is initially measured at cost, which comprises the initial amount of the lease liability adjusted for lease payments made at or before the lease commencement date, plus any initial direct costs incurred less any lease incentives received. The ROU asset is subsequently measured throughout the lease term at the carrying amount of the lease liability, plus unamortized initial direct costs, plus (minus) any prepaid (accrued) lease payments, less the unamortized balance of lease incentives received. Lease expense for lease payments is recognized on a straight-line basis over the lease term. The ROU asset is periodically reduced by impairment losses. As of December 31, 2019 , we have not encountered any impairment losses. Variable lease payments, except for the ones that depend on index or rate, are excluded from the calculation of the ROU assets and lease liabilities and are recognized as variable lease expense in the Consolidated Statements of Operations in the period in which they are incurred. As most of our leases do not provide an implicit rate, we use our incremental borrowing rate based on the information available at commencement date in determining the present value of lease payments. Many of our lessee agreements include options to extend the lease, which we do not include in our minimum lease terms unless they are reasonably certain to be exercised. The lease liability costs are amortized over the straight-line method over the term of the lease. Operating leases with a term of less than one year are recognized as a lease expense over the term of the lease, with no asset or liability recognized on the Consolidated Balance Sheets. Finance leases where we are the lessee are included in Other assets, net and Other liabilities on our Consolidated Balance Sheets. The lease liabilities are initially measured in the same manner as operating leases and are subsequently measured at amortized cost using the effective interest method. The ROU asset is initially measured at cost, which comprises the initial amount of the lease liability adjusted for lease payments made at or before the lease commencement date, plus any initial direct costs incurred less any lease incentives received. For finance leases the ROU asset is subsequently amortized using the straight-line method from the lease commencement date to the earlier of the end of its useful life or the end of the lease term unless the lease transfers ownership of the underlying asset to us, or we are reasonably certain to exercise an option to purchase the underlying asset. In those cases, the ROU asset is amortized over the useful life of the underlying asset. Amortization of the ROU asset is recognized and presented separately from interest expense on the lease liability. ROU assets are periodically reduced by impairment losses. As of December 31, 2019 , we have not encountered any impairment losses. Refer to Note 19 , “ Leases ” for information regarding leasing activities. |
Revenue
Revenue | 12 Months Ended |
Dec. 31, 2019 | |
Revenue from Contract with Customer [Abstract] | |
Revenue | Revenue Disaggregation of Revenue The following table disaggregates our revenue by major source (in thousands): Year Ended December 31, 2019 December 31, 2018 December 31, 2017 Real Property Operations Home Sales and Rentals Consolidated Real Property Operations Home Sales and Rentals Consolidated Real Property Operations Home Sales and Rentals Consolidated Revenues Income from real property $ 925,664 $ — $ 925,664 $ 825,973 $ — $ 825,973 $ 742,228 $ — $ 742,228 Revenue from home sales — 181,936 181,936 — 166,031 166,031 — 127,408 127,408 Rental home revenue — 57,572 57,572 — 53,657 53,657 — 50,549 50,549 Ancillary revenue 66,881 — 66,881 54,107 — 54,107 37,511 — 37,511 Interest income 17,857 — 17,857 20,852 — 20,852 21,180 (1 ) 21,179 Brokerage commissions and other revenues, net 14,127 — 14,127 6,205 — 6,205 3,695 — 3,695 Total Revenues $ 1,024,529 $ 239,508 $ 1,264,037 $ 907,137 $ 219,688 $ 1,126,825 $ 804,614 $ 177,956 $ 982,570 Revenue Recognition Policies and Performance Obligations On January 1, 2018, we adopted FASB Accounting Standards Update (“ASU”) 2014-09 “ Revenue from Contracts with Customers ” and the other related ASUs and amendments to the codification (collectively “ASC 606”). The core principle of ASC 606 is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. A five-step transactional analysis is required to determine how and when to recognize revenue. ASC 606 applies to all contracts with customers, except those that are within the scope of other topics in the FASB accounting standards codification. As a real estate owner and operator, the majority of our revenue is derived from site and home leases that are accounted for pursuant to ASC 842 “ Leases .” For transactions in the scope of ASC 606, we recognize revenue when control of goods or services transfers to the customer, in the amount that we expect to receive for the transfer of goods or provision of services. The adoption of ASC 606 did not result in any change to the timing and pattern of revenue recognition. Accordingly, retrospective application to prior periods or a cumulative catch-up adjustment was unnecessary. Income from real property - Residents in our communities lease the site on which their home is located, and either own or lease their home. Resident leases are generally for one-year or month-to-month terms and are renewable by mutual agreement from us and the resident, or in some cases, as provided by jurisdictional statute. Lease revenues for sites and homes fall under the scope of ASC 842, and are accounted for as operating leases with straight-line recognition. Income from real property includes income from site leases for annual MH residents, site leases for annual recreational vehicle RV residents and site rentals to transient RV residents. Non-lease components of our site lease contracts, which are primarily provision of utility services, are accounted for with the site lease as a single lease under ASC 842. Additionally, we include collections of real estate taxes from residents within Income from real property. Revenue from home sales - Our taxable REIT subsidiary, SHS, sells manufactured homes to current and prospective residents in our communities. Prior to adoption of ASC 606, we recognized revenue for home sales pursuant to ASC 605 “ Revenue Recognition, ” as manufactured homes are tangible personal property that can be located on any land parcel. Manufactured homes are not permanent fixtures or improvements to the underlying real estate and were therefore not considered to be subject to the guidance in ASC 360-20 “ Real Estate Sales ” by the Company. In accordance with the core principle of ASC 606, we recognize revenue from home sales at the time of closing when control of the home transfers to the customer. After closing of the sale transaction, we have no remaining performance obligation. Rental home revenue - is comprised of rental agreements whereby we lease homes to residents in our communities. We account for these revenues under ASC 842. Ancillary revenue - is primarily composed of proceeds from restaurant, golf, merchandise and other activities at our RV communities and is included in the scope of ASC 606. Revenues are recognized at point of sale when control of the good or service transfers to the customer and our performance obligation is satisfied. In addition, leasing of short-term vacation home rentals is included within Ancillary revenue and falls within the scope of ASC 842. Sales and other taxes that we collect concurrent with revenue-producing activities are excluded from the transaction price. Interest income - is earned primarily on our notes receivables, which includes installment loans for manufactured homes purchased by the Company from loan originators. Interest income on these receivables is accrued based on the unpaid principal balances of the underlying loans on a level yield basis over the life of the loans. Interest income is not in the scope of ASC 606. Refer to Note 5 , “ Notes and Other Receivables ” for additional information. Broker commissions and other revenues, net - is primarily comprised of brokerage commissions for sales of manufactured homes, where we act as agent and arrange for a third party to transfer a manufactured home to a customer within one of our communities. Brokerage commission revenues are recognized on a net basis at closing, when the transaction is completed and our performance obligations have been fulfilled. Loan loss reserve expenses for our notes receivables are also included herein. Refer to Note 5 , “ Notes and Other Receivables ” for additional information regarding our loan loss reserves. Contract Balances As of December 31, 2019 , and December 31, 2018 , we had $ 20.9 million and $ 16.1 |
Real Estate Acquisitions and Di
Real Estate Acquisitions and Dispositions | 12 Months Ended |
Dec. 31, 2019 | |
Business Combinations [Abstract] | |
Real Estate Acquisitions and Dispositions | Real Estate Acquisitions 2019 Acquisitions Communities For the year ended December 31, 2019 , we acquired the following communities and portfolios: Community Name Type Sites Development Sites State Month Acquired Slickrock Campground RV 193 — UT December Pandion Ridge RV 142 351 AL November Jensen Portfolio (1) MH 5,230 466 Various October Glen Ellis RV 244 40 NH September Leisure Point Resort (2) MH / RV 502 — DE September Reunion Lake RV 202 69 LA July River Plantation RV 309 — TN May Massey’s Landing RV RV 291 — DE February Shelby Properties (3) MH 1,308 — MI February Buena Vista MH 400 — AZ February Country Village Estates (4) MH 518 — OR January Hid’n Pines RV RV 321 — ME January Hacienda del Rio MH (Age-Restricted) 730 — FL January Total 10,390 926 (1) Contains 31 communities located in CT, GA, MD, NH, NJ, NY, NC and SC. In conjunction with the acquisition, we issued 1,972,876 shares of common stock, net of fractional shares paid in cash. (2) Contains 201 MH sites and 301 RV sites. (3) Contains two MH communities. (4) In conjunction with the acquisition, we issued Series D Preferred OP Units. As of December 31, 2019 , 488,958 Series D Preferred OP Units were outstanding. The following table summarizes the amounts of assets acquired net of liabilities assumed at the acquisition date and the consideration paid for the acquisitions completed for the year ended December 31, 2019 (in thousands): At Acquisition Date Consideration Investment in property Inventory of manufactured homes In-place leases and other intangible assets Other assets (liabilities), net Total identifiable assets acquired net of liabilities assumed Cash and escrow Debt assumed Temporary and permanent equity Total consideration Slickrock Campground $ 8,250 $ — $ — $ 8 $ 8,258 $ 8,258 $ — $ — $ 8,258 Pandion Ridge 19,070 — — (92 ) $ 18,978 18,978 — — 18,978 Jensen Portfolio 374,402 3,605 7,752 3,938 $ 389,697 18,306 58,000 313,391 389,697 Glen Ellis 5,955 — — (79 ) 5,876 1,976 3,900 — 5,876 Leisure Point Resort 43,632 18 850 (678 ) 43,822 43,822 — — 43,822 Reunion Lake 23,493 — — (1,153 ) 22,340 22,340 — — 22,340 River Plantation 22,589 75 — — 22,664 22,664 — — 22,664 Massey's Landing 36,250 — 220 (446 ) 36,024 36,024 — — 36,024 Shelby Properties 85,969 2,011 6,520 (1,015 ) 93,485 93,485 — — 93,485 Buena Vista 20,221 439 1,590 (93 ) 22,157 22,157 — — 22,157 Country Village 62,784 — 2,020 31 64,835 12,905 — 51,930 64,835 Hid'n Pines 10,680 — 70 (233 ) 10,517 10,517 — — 10,517 Hacienda del Rio 111,971 15 3,280 (237 ) 115,029 115,029 — — 115,029 Total $ 825,266 $ 6,163 $ 22,302 $ (49 ) $ 853,682 $ 426,461 $ 61,900 $ 365,321 $ 853,682 As of December 31, 2019 , the Company incurred $ 19.3 million of transaction costs which have been capitalized and allocated among the various categories above. Land for Expansion / Development During the year ended December 31, 2019, the Company acquired four land parcels which are located in New Braunfels, Texas; Petoskey, Michigan; Uhland, Texas and Hudson, Florida for total consideration of $7.7 million . Two of the land parcels are adjacent to existing communities. The land acquired for expansion and development have potential to add approximately 900 usable sites once constructed. Ground Leases In September 2019, the Company entered into a 66-year Temporary Occupancy and Use Permit with the Port of San Diego to construct and operate a new RV resort in Chula Vista. Refer to Note 19, “ Leases” for disclosures on accounting treatment. In August 2019, the Company acquired Chincoteague Island KOA RV Resort (“Chincoteague”), in Chincoteague Island, Virginia for total consideration of $ 19.5 million. The sellers of Chincoteague continue to operate the property. Refer to Note 19, “Leases” for disclosures on accounting treatment. In April 2019, the Company acquired Strafford/Lake Winnipesaukee South KOA RV Resort ("Strafford") in Strafford, New Hampshire for total consideration of $ 2.7 million. The sellers of Strafford continue to operate the property. Refer to Note 19, “Leases” for disclosures on accounting treatment. In March 2019, the Company entered into a four-year Temporary Occupancy and Use Permit with the Port of San Diego to operate a RV resort located in Chula Vista, CA until such time as the Company constructs a new RV resort in the area. Concurrent with the transaction, we purchased tangible personal property from the prior owner of the RV resort for $ 0.3 million. Refer to Note 19. “Leases ” for disclosures on accounting treatment. Refer to Note 21 , “Subsequent Events” for information regarding real estate acquisition activity after December 31, 2019 . The total amount of revenues and net income included in the Consolidated Statements of Operations for the year ended December 31, 2019 related to the acquisitions completed in 2019 are set forth in the following table (in thousands): Year Ended December 31, 2019 (unaudited) Total revenues $ 42,715 Net income $ 10,050 The following unaudited pro forma financial information presents the results of our operations for the years ended December 31, 2019 and 2018 , as if the properties acquired in 2019 had been acquired on January 1, 2018 . The unaudited pro forma results reflect certain adjustments for items that are not expected to have a continuing impact, such as adjustments for transaction costs incurred, management fees, and purchase accounting. The information presented below has been prepared for comparative purposes only and does not purport to be indicative of either future results of operations or the results of operations that would have actually occurred had the acquisition been consummated on January 1, 2018 (in thousands, except per-share data): Year Ended (unaudited) December 31, 2019 December 31, 2018 Total revenues $ 1,298,096 $ 1,194,093 Net income attributable to Sun Communities, Inc. common stockholders $ 166,446 $ 120,891 Net income per share attributable to Sun Communities, Inc. common stockholders - basic $ 1.88 $ 1.49 Net income per share attributable to Sun Communities, Inc. common stockholders - diluted $ 1.87 $ 1.47 2018 Acquisitions For the year ended December 31, 2018 we acquired the following communities: Community Name Type Sites Development Sites State Month Acquired Leaf Verde RV Resort RV 376 — AZ October Archview RV 114 50 UT August Petoskey KOA RV 210 — MI August The Sands RV and Golf Resort RV (Age Restricted) 507 — CA July Sun NG RV Resorts LLC (1)(2) RV 2,700 940 Various June Silver Creek RV 264 176 MI June Highway West (1) RV 536 — UT & OR June Compass RV RV 175 — FL May Total 4,882 1,166 (1) Highway West and Sun NG RV Resorts LLC are comprised of 4 RV and 10 RV resorts, respectively. (2) Refer to Note 8, “Consolidated Variable Interest Entities,” Note 9, “Debt and Lines of Credit,” and Note 10, “Equity and Temporary Equity” in our accompanying Consolidated Financial Statements for additional information. The following table summarizes the amounts of assets acquired net of liabilities assumed at the acquisition date and the consideration paid for the acquisitions completed in 2018 (in thousands): At Acquisition Date Consideration Investment in property In-place leases and other intangible assets Debt assumed Other liabilities, net Total identifiable assets acquired net of liabilities assumed Cash Preferred Equity - Sun NG Resorts Equity Interests - NG Sun LLC Total consideration Leaf Verde $ 11,587 $ 60 $ — $ — $ 11,647 $ 11,647 $ — $ — $ 11,647 Archview 14,550 — — — 14,550 14,550 — — 14,550 Petoskey KOA 8,730 270 — — 9,000 9,000 — — 9,000 Sands 13,790 460 — — 14,250 14,250 — — 14,250 Sun NG Resorts 240,649 16,339 (3,120 ) (11,990 ) 241,878 184,625 35,277 21,976 241,878 Silver Creek 7,250 — — — 7,250 7,250 — — 7,250 Highway West 36,500 — — — 36,500 36,500 — — 36,500 Compass 13,930 70 — — 14,000 14,000 — — 14,000 Total $ 346,986 $ 17,199 $ (3,120 ) $ (11,990 ) $ 349,075 $ 291,822 $ 35,277 $ 21,976 $ 349,075 For the year ended December 31, 2018, we acquired the following land for expansion / development: Name Location Type Expansion / Development Sites Cost (millions) Month Acquired Ocean West McKinleyville, CA MH 26 $ 0.2 December Water Oak Country Club Estates Lady Lake, FL MH 296 1.9 November Oak Crest Austin, TX MH 220 4.2 October Pecan Park Jacksonville, FL RV 158 1.3 September Smith Creek Crossing Granby, CO MH 310 0.9 September Apple Carr Egelston, MI MH 121 0.2 May River Run Granby, CO MH / RV 1,144 5.3 May Total 2,275 $ 14.0 |
Collateralized Receivables and
Collateralized Receivables and Transfers of Financial Assets | 12 Months Ended |
Dec. 31, 2019 | |
Transfers and Servicing [Abstract] | |
Transfers of Financial Assets | Collateralized Receivables and Transfers of Financial Assets Prior to November 2019, we completed various transactions with an unrelated entity involving our notes receivable under which we received cash proceeds in exchange for relinquishing our right, title, and interest in certain notes receivable. We had no further obligations or rights with respect to the control, management, administration, servicing, or collection of the installment notes receivable. However, we were subject to certain recourse provisions requiring us to purchase the underlying homes collateralizing such notes, in the event of a note default and subsequent repossession of the home by the unrelated entity. The recourse provisions were considered to be a form of continuing involvement which precluded establishing legal isolation, a necessary condition for derecognition of a financial asset, and therefore these transferred loans did not meet the requirements for sale accounting. We continued to recognize these transferred loans and we also recognized the cash proceeds on our Consolidated Balance Sheets and referred to them as collateralized receivables and as secured borrowings on collateralized receivables respectively. In November 2019, the facts and circumstances regarding the recourse provisions, to which we remain subject, evolved such that the purchasers become subject to substantive economic risk. Accordingly, we reassessed the legal isolation analysis in consultation with legal counsel, and concluded that the transaction now achieved the sale accounting requirements for the transferred notes receivable. Following the derecognition guidance, we (a) derecognized the transferred financial assets, (b) applied the guidance in ASC paragraphs 860-20-25-1 and 860-20-30-1 on recognition and measurement of assets obtained and liabilities incurred in the sale, and (c) recognized in earnings a $0.6 million gain on sale. There was no balance of collateralized receivables at December 31, 2019. The balance of the collateralized receivables was $106.9 million (net of allowance of $0.8 million ) as of December 31, 2018 . The receivables had a weighted average interest rate and maturity of 9.9 percent and 14.1 years as of December 31, 2018 . There was no balance of secured borrowing as of December 31, 2019 . The balance of the secured borrowing was $107.7 million as of December 31, 2018 . The amount of interest income and expense recognized was $8.0 million , $11.2 million and $13.2 million for the years ended December 31, 2019 , 2018 , and 2017 , respectively. The change in the aggregate gross principal balance of the collateralized receivables is as follows (in thousands): December 31, 2019 December 31, 2018 Beginning balance $ 107,731 $ 129,182 Principal payments and payoffs from our customers (11,408 ) (12,577 ) Principal reduction from repurchased homes (5,973 ) (8,874 ) Derecognition of collateralized receivables (90,350 ) — Total activity (107,731 ) (21,451 ) Ending balance $ — $ 107,731 The following table sets forth the allowance for the collateralized receivables (in thousands): December 31, 2019 December 31, 2018 Beginning balance $ (807 ) $ (936 ) Lower of cost or market write-downs 140 660 (Increase) / decrease to reserve balance 80 (531 ) Gain on derecognition of collaterized receivables 587 — Total activity 807 129 Ending balance $ — $ (807 ) |
Notes And Other Receivables
Notes And Other Receivables | 12 Months Ended |
Dec. 31, 2019 | |
Long-term Notes and Loans, by Type, Current and Noncurrent [Abstract] | |
Notes And Other Receivables | Notes and Other Receivables The following table sets forth certain information regarding notes and other receivables (in thousands): December 31, 2019 December 31, 2018 Installment notes receivable on manufactured homes, net $ 95,580 $ 112,798 Notes receivable from real estate developers 18,960 — Other receivables, net 43,386 47,279 Total notes and other receivables, net $ 157,926 $ 160,077 Installment Notes Receivable on Manufactured Homes The installment notes of $95.6 million (net of allowance of $0.6 million ) and $112.8 million (net of allowance of $0.7 million ) as of December 31, 2019 and December 31, 2018 , respectively, are collateralized by manufactured homes. The notes represent financing provided to purchasers of manufactured homes primarily located in our communities and require monthly principal and interest payments. The notes have a weighted average interest rate (net of servicing costs) and maturity of 8.0 percent and 15.8 years as of December 31, 2019 , and 8.0 percent and 16.6 years as of December 31, 2018 . The change in the aggregate gross principal balance of the installment notes receivable is as follows (in thousands): December 31, 2019 December 31, 2018 Beginning balance $ 113,495 $ 116,174 Financed sales of manufactured homes 341 14,237 Principal payments and payoffs from our customers (8,710 ) (8,966 ) Principal reduction from repossessed homes (8,901 ) (7,950 ) Total activity (17,270 ) (2,679 ) Ending balance $ 96,225 $ 113,495 Allowance for Losses for Installment Notes Receivable The following table sets forth the allowance change for the installment notes receivable (in thousands): December 31, 2019 December 31, 2018 Beginning balance $ (697 ) $ (377 ) Lower of cost or market write-downs 203 678 Increase to reserve balance (151 ) (998 ) Total activity 52 (320 ) Ending balance $ (645 ) $ (697 ) Notes Receivable from Real Estate Developers As of December 31, 2019 , the notes receivables balance of $19.0 million primarily comprise short term construction loans provided to real estate developers. Other Receivables As of December 31, 2019 , other receivables were comprised of amounts due from: residents for rent, utility charges, fees and other pass through charges of $7.8 million (net of allowance of $2.2 million ); home sale proceeds of $20.9 million ; insurance receivables of $9.9 million , and other receivables of $4.8 million . As of December 31, 2018 , other receivables were comprised of amounts due from: residents for rent, utility charges, fees and other pass through charges of $7.1 million (net of allowance of $1.5 million ); home sale proceeds of $16.1 million ; and insurance and other receivables of $24.1 million . |
Intangible Assets
Intangible Assets | 12 Months Ended |
Dec. 31, 2019 | |
Intangible Assets Disclosure [Abstract] | |
Goodwill and Intangible Assets Disclosure [Text Block] | Intangible Assets Our intangible assets include in-place leases, franchise agreements and other intangible assets. These intangible assets are recorded in Other assets, net on the Consolidated Balance Sheets. In accordance with FASB ASC Topic 842, below market leases are now classified as a right of use asset. The gross carrying amounts and accumulated amortization are as follows (in thousands): December 31, 2019 December 31, 2018 Intangible Asset Useful Life Gross Carrying Amount Accumulated Amortization Gross Carrying Amount Accumulated Amortization In-place leases 7 years $ 127,313 $ (73,980 ) $ 103,547 $ (59,068 ) Franchise agreements and other intangible assets 7 - 20 years 16,943 (2,760 ) 16,641 (1,942 ) Total $ 144,256 $ (76,740 ) $ 120,188 $ (61,010 ) Total amortization expenses related to our intangible assets are as follows (in thousands): Year Ended Intangible Asset December 31, 2019 December 31, 2018 December 31, 2017 In-place leases $ 14,912 $ 12,913 $ 13,812 Franchise fees and other intangible assets 818 507 301 Total $ 15,730 $ 13,420 $ 14,113 We anticipate amortization expense for our intangible assets to be as follows for the next five years (in thousands): 2020 2021 2022 2023 2024 Estimated expense $ 15,522 $ 15,130 $ 10,529 $ 7,154 $ 4,791 |
Investment In Affiliates
Investment In Affiliates | 12 Months Ended |
Dec. 31, 2019 | |
Equity Method Investments and Joint Ventures [Abstract] | |
Investment In Affiliates | Investments in Nonconsolidated Affiliates Investments in joint ventures that are not consolidated, nor recorded at cost, are accounted for using the equity method of accounting as prescribed in FASB ASC Topic 323, “Investments - Equity Method and Joint Ventures.” Investments in nonconsolidated affiliates are recorded within Other assets, net on the Consolidated Balance Sheets. Equity income and loss are recorded in the Income / (loss) from nonconsolidated affiliates on the Consolidated Statements of Operations. RezPlot Systems LLC (“Rezplot”) At December 31, 2019 , the Company had a 50 percent ownership interest in RezPlot, a RV reservation software technology company, acquired in January 2019. Sungenia JV At December 31, 2019 and December 31, 2018 , the Company had a 50 percent interest in Sungenia JV, a joint venture (“JV”) formed between the Company and Ingenia Communities Group in November 2018, to establish and grow a manufactured housing community development program in Australia. GTSC LLC ( “GTSC” ) At December 31, 2019 and December 31, 2018 , the Company had a 40 percent ownership interest in GTSC, which engages in acquiring, holding and selling loans secured, directly or indirectly, by manufactured homes located in communities of Sun Communities. Origen Financial Services, LLC (“OFS”) At December 31, 2019 and December 31, 2018 , the Company had a 22.9 percent ownership interest in OFS, an end-to-end online resident screening and document management suite. The investment balance in each nonconsolidated affiliate is as follows (in millions): Investment December 31, 2019 December 31, 2018 Investment in RezPlot $ 4.2 $ — Investment in Sungenia JV 12.0 0.7 Investment in GTSC (1) 18.5 29.8 Investment in OFS 0.1 0.1 Total $ 34.8 $ 30.6 (1) The decrease in investment balance is primarily due to return of capital. The year to date Equity income / (loss) from each nonconsolidated affiliate is as follows (in thousands): Equity income December 31, 2019 December 31, 2018 RezPlot equity loss $ (1,344 ) $ — Sungenia JV equity loss (290 ) — GTSC equity income 2,803 604 OFS equity income 205 186 Total equity income $ 1,374 $ 790 Investments in joint ventures in which we do not have a controlling direct or indirect voting interest, but can exercise significant influence over the entity with respect to our operations and major decisions, are accounted for using the equity method of accounting whereby the cost of an investment is adjusted for our share of the equity in net income or loss from the date of acquisition, reduced by distributions received and increased by contributions made. The income or loss of each entity is allocated in accordance with the provisions of the applicable operating agreements. The allocation provisions in these agreements may differ from the ownership interests held by each investor. |
Consolidated Variable Interest
Consolidated Variable Interest Entities | 12 Months Ended |
Dec. 31, 2019 | |
DisclosureofVariableInterestEntities [Abstract] | |
DisclosureOfVariableInterestEntities [Text Block] | Consolidated Variable Interest Entities The Operating Partnership We consolidate the Operating Partnership under the guidance set forth in FASB ASC Topic 810 “Consolidation.” ASU 2015-02 modified the evaluation of whether limited partnerships and similar legal entities are VIEs or voting interest entities. We evaluated the application of ASU 2015-02 and concluded that the Operating Partnership now meets the criteria of a VIE. Our significant asset is our investment in the Operating Partnership, and consequently, substantially all of our assets and liabilities represent those assets and liabilities of the Operating Partnership. We are the sole general partner and generally have the power to manage and have complete control over the Operating Partnership and the obligation to absorb its losses or the right to receive its benefits. Sun NG RV Resorts LLC (“Sun NG Resorts”); Rudgate Village SPE, LLC, Rudgate Clinton SPE, LLC, and Rudgate Clinton Estates SPE, LLC (collectively, “Rudgate”); Sun NG Whitewater RV LLC ( “Whitewater Resorts” ); We consolidate Sun NG Resorts, Rudgate, and Whitewater Resorts, under the guidance set forth in FASB ASC Topic 810 “Consolidation.” We concluded that each of them is a VIE where we are the primary beneficiary, as we have the power to direct the significant activities, absorb the significant losses and receive the significant benefits from the entity. Refer to Note 3 , “ Real Estate Acquisitions ,” Note 9 , “ Debt and Lines of Credit ,” and Note 10 , “ Equity and Temporary Equity ” for additional information on Sun NG Resorts. The following table summarizes the assets and liabilities included in our Consolidated Balance Sheets after appropriate eliminations have been made (in thousands): December 31, 2019 December 31, 2018 Assets Investment property, net $ 344,300 $ 308,171 Other assets 23,894 19,809 Total Assets $ 368,194 $ 327,980 Liabilities and Other Equity Debt $ 46,993 $ 44,172 Preferred Equity - Sun NG Resorts - mandatorily redeemable 35,249 35,277 Other liabilities 13,631 6,914 Total Liabilities 95,873 86,363 Equity Interest - NG Sun LLC & NG Whitewater 27,091 21,976 Noncontrolling interests 8,542 7,145 Total Liabilities and Other Equity $ 131,506 $ 115,484 Investment property, net and other assets, net related to the consolidated VIEs, with the exception of SCOLP, comprised approximately 4.7 percent and 4.9 percent of our consolidated total assets at December 31, 2019 and December 31, 2018 , respectively. Debt, Preferred Equity and other liabilities comprised approximately 2.5 percent and 2.6 percent of our consolidated total liabilities at December 31, 2019 and December 31, 2018 , respectively. Equity Interests and Noncontrolling interests related to the consolidated VIEs, on an absolute basis, comprised approximately less than 1.0 percent of our consolidated total equity at December 31, 2019 and at December 31, 2018 . |
Debt And Lines Of Credit
Debt And Lines Of Credit | 12 Months Ended |
Dec. 31, 2019 | |
Debt Disclosure [Abstract] | |
Debt Disclosure [Text Block] | Debt and Lines of Credit The following table sets forth certain information regarding debt including premiums, discounts, and deferred financing costs (in thousands): Carrying Amount Weighted Average Years to Maturity Weighted Average Interest Rates December 31, 2019 December 31, 2018 December 31, 2019 December 31, 2018 December 31, 2019 December 31, 2018 Collateralized term loans - Life Companies $ 1,710,408 $ 1,259,158 17.1 14.4 4.0 % 3.9 % Collateralized term loans - FNMA 697,589 770,417 7.0 5.1 3.7 % 4.4 % Collateralized term loans - CMBS 397,868 405,702 3.1 4.1 5.1 % 5.1 % Collateralized term loans - FMCC 374,727 380,680 4.9 5.9 3.9 % 3.9 % Secured borrowings — 107,731 0.0 14.4 — % 9.9 % Preferred equity - Sun NG Resorts - mandatorily redeemable 35,249 35,277 2.8 3.8 6.0 % 6.0 % Preferred OP units - mandatorily redeemable 34,663 37,338 4.0 4.7 6.5 % 6.6 % Lines of credit 183,898 128,000 3.5 2.3 2.7 % 3.8 % Total debt $ 3,434,402 $ 3,124,303 11.1 9.0 4.0 % 4.5 % Collateralized Term Loans All of our collateralized term loans are mortgage loans. During the years ended December 31, 2019 and 2018 , we repaid the following collateralized term loans: Three months ended Repayment amount (in millions) Fixed Interest rate Maturity date (Gain) / loss on extinguishment of debt (in millions) Encumbered communities released December 31, 2019 $ 17.0 5.62 % March 1, 2020 $ — — $ 127.3 5.10 % November 1, 2021 $ 3.2 — $ 21.5 (1) 6.24 % (4) March 1, 2020 April 1, 2020 $ (0.2 ) 3 September 30, 2019 $ 134.0 4.3 % May 1, 2023 $ 12.8 — March 31, 2019 $ 186.8 3.83 % January 1, 2030 $ 0.7 — December 31, 2018 $ 10.2 5.66 % February 28, 2019 $ — — September 30, 2018 $ 30.5 6.34 % March 1, 2019 $ 0.9 1 June 30, 2018 (2) $ 177.7 4.53 % (4) August 1, 2018 May 1, 2023 $ 1.5 11 March 31, 2018 (3) $ 24.4 6.36 % (4) March 1, 2019 $ 0.2 3 (1) Includes four collateralized term loans, three due to mature on March 1, 2020 and one due to mature on April 1, 2020. (2) Includes three collateralized term loans, one due to mature on August 1, 2018 and two due to mature on May 1, 2023. (3) Includes four collateralized term loans, all due to mature on March 1, 2019. (4) The interest rate represents the weighted average interest rate on collateralized term loans. During the years ended December 31, 2019 and 2018 , we entered into the following collateralized term loans: Three months ended Loan amount (in millions) Term (in years) Interest rate Maturity date December 31, 2019 $ 400.0 (1) 21 4.026 % December 15, 2039 December 15, 2041 September 30, 2019 $ 250.0 10 2.925 % October 1, 2029 March 31, 2019 $ 265.0 25 4.170 % January 15, 2044 December 31, 2018 $ 21.7 20 4.100 % August 15, 2038 September 30, 2018 $ 228.0 20 4.100 % August 15, 2038 (1) Includes two collateralized term loans one due to mature on December 15, 2039 and the other on December 1, 2041. The collateralized term loans totaling $3.2 billion as of December 31, 2019 , are secured by 188 properties comprised of 74,170 sites representing approximately $3.3 billion of net book value. Secured Borrowings See Note 4 , “ Collateralized Receivables and Transfers of Financial Assets ,” for information regarding our collateralized receivables and secured borrowing transactions. Preferred OP Units - mandatorily redeemable Preferred OP units at December 31, 2019 and December 31, 2018 include $34.7 million of Aspen preferred OP units issued by the Operating Partnership. As of December 31, 2019 , these units are convertible indirectly into 407,190 shares of our common stock. Subject to certain limitations, at any time prior to January 1, 2024, the holder of each Aspen preferred OP unit at its option may convert such Aspen preferred OP unit into: (a) if the market price of our common stock is $68.00 per share or less, 0.397 common OP units; or (b) if the market price of our common stock is greater than $68.00 per share, the number of common OP units is determined by dividing (i) the sum of (A) $27.00 plus (B) 25 percent of the amount by which the market price of our common stock exceeds $68.00 per share, by (ii) the per share market price of our common stock. The current preferred distribution rate is 6.5 percent . On January 2, 2024, we are required to redeem all Aspen preferred OP units that have not been converted to common OP units. Refer to Note 21, “Subsequent Events,” for additional information regarding revisions to the terms of certain of the Aspen preferred OP units. Preferred OP units also include $2.7 million of Series B-3 preferred OP units at December 31, 2018 , which are not convertible. In January 2019, we redeemed all remaining 26,750 Series B-3 preferred OP units. The weighted average redemption price per unit, which included accrued and unpaid distributions, was $ 100.153424 . In the aggregate, we paid $2.7 million to redeem these units. Preferred Equity - Sun NG Resorts - mandatorily redeemable In June 2018, in connection with the investment in Sun NG Resorts, $35.3 million of mandatorily redeemable Preferred Equity (“Preferred Equity - Sun NG Resorts”) was purchased by unrelated third parties. The Preferred Equity - Sun NG Resorts carries a preferred rate of return of 6.0 percent per annum. The Preferred Equity - Sun NG Resorts has a 7 -year term and can be redeemed in the fourth quarter of 2022 at the holders’ option. The Preferred Equity - Sun NG Resorts balance was $35.2 million and $35.3 million at December 31, 2019 and December 31, 2018 . Refer to Note 3 , “ Real Estate Acquisitions ,” Note 8 , “ Consolidated Variable Interest Entities ,” and Note 10 , “ Equity and Temporary Equity ” for additional information. Lines of Credit (“LOC”) Credit agreement - In May 2019, we amended and restated our credit agreement with Citibank and certain other lenders. Pursuant to the credit agreement, we entered into a senior credit facility with Citibank and certain other lenders in the amount of $750.0 million , comprised of a $650.0 million revolving loan, with the ability to use up to $100.0 million for advances in Australian dollars, and a $100.0 million term loan (the “A&R Facility”). We have until March 17, 2020 to draw on the term loan. As of December 31, 2019 , we had not drawn any funds on the term loan. The credit agreement has a four-year term ending May 21, 2023, which can be extended for two additional six-month periods, subject to the satisfaction of certain conditions as defined in the credit agreement. The credit agreement also provides for, subject to the satisfaction of certain conditions, additional commitments in an amount not to exceed $350.0 million . If additional borrowings are made pursuant to any such additional commitments, the aggregate borrowing limit under the A&R Facility may be increased up to $1.1 billion . The A&R Facility bears interest at a floating rate based on the Eurodollar rate or Bank Bill Swap Bid Rate plus a margin that is determined based on our leverage ratio calculated in accordance with the credit agreement, which margin can range from 1.20 percent to 2.10 percent for the revolving loan and 1.20 percent to 2.05 percent for the term loan. As of December 31, 2019 , the margin based on our leverage ratio was 1.20 percent on the revolving loan and 1.20 percent on the term loan. We had $123.6 million and zero of borrowings on the revolving loan and the term loan, respectively, as of December 31, 2019 . The A&R Facility provides us with the ability to issue letters of credit. Our issuance of letters of credit does not increase our borrowings outstanding under our line of credit but does reduce the borrowing amount available. At December 31, 2019 and December 31, 2018 , approximately $2.8 million and $3.9 million of availability was used to back standby letters of credit. Floor plan - We have a $12.0 million manufactured home floor plan facility renewable indefinitely until our lender provides us at least a twelve month notice of their intent to terminate the agreement. The interest rate is 100 basis points over the greater of the prime rate as quoted in the Wall Street Journal on the first business day of each month or 6.0 percent . At December 31, 2019 , the effective interest rate was 7.0 percent . The outstanding balance was $3.3 million and zero as of December 31, 2019 and December 31, 2018 , respectively. Jensen - In October 2019, we assumed a term loan facility with Citibank N.A. (“Citibank”), in the amount of $58.0 million . The term loan has a four-year term ending October 29, 2023, and bears interest at a floating rate based on the Eurodollar rate or Prime rate. The outstanding balance was $57.0 million at December 31, 2019. Covenants Pursuant to the terms of the A&R Facility, we are subject to various financial and other covenants. The most restrictive of our debt agreements place limitations on secured borrowings and contain minimum fixed charge coverage, leverage, distribution, and net worth requirements. At December 31, 2019 , we were in compliance with all covenants. In addition, certain of our subsidiary borrowers own properties that secure loans. These subsidiaries are consolidated within our accompanying Consolidated Financial Statements, however, each of these subsidiaries’ assets and credit are not available to satisfy the debts and other obligations of the Company, any of its other subsidiaries or any other person or entity. Long-term Debt Maturities As of December 31, 2019 , the total of maturities and amortization of our debt (excluding premiums and discounts) and lines of credit during the next five years were as follows (in thousands): Maturities and Amortization By Year Total Due 2020 2021 2022 2023 2024 Thereafter Mortgage loans payable Maturities $ 2,161,615 $ 19,796 $ 148,378 $ 82,155 $ 185,618 $ 315,331 $ 1,410,337 Principal amortization 1,026,857 60,723 60,873 61,326 60,604 57,082 726,249 Preferred Equity - Sun NG Resorts - mandatorily redeemable 35,249 — — 35,249 — — — Preferred OP units - mandatorily redeemable 34,663 — — — — 34,663 — Lines of credit 183,898 10,000 13,293 10,000 150,605 — — Total $ 3,442,282 $ 90,519 $ 222,544 $ 188,730 $ 396,827 $ 407,076 $ 2,136,586 Off-Balance Sheet Arrangements - Nonconsolidated Affiliate Indebtedness We have a 40 percent investment in GTSC, a nonconsolidated affiliate. During September 2019, GTSC entered into a warehouse line of credit with a maximum loan amount of $125.0 million . As of December 31, 2019 , the aggregate carrying amount of debt, including both our and our partners’ share, incurred by GTSC was approximately $123.4 million (of which our proportionate share is approximately $49.4 million ). The debt bears interest at a variable rate based on LIBOR plus 1.65 percent per annum and matures on September 15, 2023. |
Equity Transactions
Equity Transactions | 12 Months Ended |
Dec. 31, 2019 | |
Equity [Abstract] | |
Equity Transactions | Public Equity Offerings In May 2019, we closed an underwritten registered public offering of 3,737,500 shares of common stock. Proceeds from the offering were $452.1 million after deducting expenses related to the offering. We used the net proceeds of this offering to repay borrowings outstanding under the revolving loan under our senior credit facility. At the Market Offering Sales Agreement In July 2017, we entered into a new at the market offering sales agreement (as amended, the “Sales Agreement”) with certain sales agents (collectively, the “Sales Agents”), whereby we may offer and sell shares of our common stock, having an aggregate offering price of up to $450.0 million , from time to time through the Sales Agents. The Sales Agents are entitled to compensation in an agreed amount not to exceed 2.0 percent of the gross price per share for any shares sold from time to time under the Sales Agreement. Through December 31, 2019 we have sold shares of our common stock for gross proceeds of $163.8 million under the Sales Agreement. There was no issuance of common stock under the Sales Agreement in 2019. Issuances of common stock under the Sales Agreement through December 31, 2018 , and 2017 were as shown in the table below: Quarter Ended Common stock issued Weighted average sales price Net proceeds (in millions) September 30, 2018 398,516 $ 100.19 $ 39.4 June 30, 2018 1,008,699 $ 92.98 $ 92.6 December 31, 2017 321,800 $ 93.33 $ 29.7 Issuances of common stock under our previous at the market offering sales agreement during 2017 were as follows: Quarter Ended Common stock issued Weighted average sales price Net proceeds (in millions) June 30, 2017 400,000 $ 85.01 $ 33.6 March 31, 2017 280,502 $ 76.47 $ 21.2 Temporary Equity Equity Interests - NG Sun Whitewater RV LLC - In August 2019, in connection with the investment in land at the property known as Whitewater, NG Sun Whitewater LLC purchased $2.4 million of common equity interest in Sun NG Whitewater RV LLC Resorts (referred to as “Equity Interests - NG Sun Whitewater RV LLC”). The Equity Interests - NG Sun Whitewater RV LLC do not have a fixed maturity date and can be redeemed any time after the last day of the third full year that the RV park has been operated as a recreational vehicle park, or last day of the third full year that the RV park has been operated as a recreational vehicle park after the completion of the development of phase two (the “buy-sell trigger date”). Sun NG LLC, our subsidiary, has the right to terminate the agreement after the buy-sell trigger date. If either party exercises their option, the property management agreement will be terminated, and Sun NG LLC is required to purchase the remaining interests of NG Sun Whitewater LLC and the property management agreement at fair value. Refer to Note 3 , “ Real Estate Acquisitions ,” and Note 8 , “ Consolidated Variable Interest Entities ,” for additional information. Issuance of Series D Preferred OP Units - In February 2019, we issued 488,958 Series D Preferred OP Units in connection with the acquisition of Country Village Estates. The Series D preferred OP units have a stated issuance price of $100.00 per OP Unit and carry a preferred return of 3.75 percent until the second anniversary of the issuance date. Commencing with the second anniversary of the issuance date, the Series D Preferred OP Units carry a preferred return of 4.0 percent . Commencing with the first anniversary of the issuance date, each Series D Preferred OP Unit can be exchanged for 0.8 shares of our common stock at the holder’s option. The holders may require redemption in cash after the fifth anniversary of the Series D issuance date or upon the holder’s death. Refer to Note 3 , “ Real Estate Acquisitions ” for additional information. Equity Interests - NG Sun LLC - In June 2018, in connection with the investment in Sun NG Resorts, unrelated third parties purchased $6.5 million of Series B preferred equity interests and $15.4 million of common equity interest in Sun NG Resorts (herein jointly referred to as “Equity Interest - NG Sun LLC”). The Series B preferred equity interests carry a preferred return at a rate that, at any time, is equal to the interest rate on Sun NG Resorts’ indebtedness at such time. The current rate of return is 5.0 percent . The Equity Interests - NG Sun LLC do not have a fixed maturity date and can be redeemed in the fourth quarter of 2022 at the holders’ option. Sun NG LLC, our subsidiary, has the right during certain periods each year, with or without cause, or for cause at any time, to elect to buy NG Sun LLC’s interest. During a limited period in 2022, NG Sun LLC has the right to put its interest to Sun NG LLC. If either party exercises their option, the property management agreement will be terminated, and the Company is required to purchase the remaining interests of NG Sun LLC and the property management agreement at fair value. Refer to Note 3 , “ Real Estate Acquisitions ,” Note 8 , “ Consolidated Variable Interest Entities ,” and Note 9 , “ Debt and Lines of Credit ” for additional information. Series A-4 Preferred OP Units On December 13, 2019, all outstanding shares of the Company’s 6.50% Series A-4 Cumulative Convertible Preferred Stock, and all of the Operating Partnership’s Series A-4 Preferred OP Units, were converted into common stock and common OP units, respectively. All 1,031,747 shares of Series A-4 preferred stock were converted into 458,541 shares of common stock (net of fractional shares paid in cash). All 405,656 Series A-4 preferred OP units were converted into 180,277 common OP units (net of fractional units paid in cash). The Series A-4 preferred shares and units were issued to the sellers of the American Land Lease portfolio which we acquired in 2014 and 2015. Issuances of Common Stock and Common OP Units In October 2019, in connection with the acquisition of the Jensen Portfolio, we issued 1,972,876 shares of common stock, net of fractional shares paid in cash. Conversions Conversions to Common Stock - Subject to certain limitations, holders can convert certain series of stock and OP units to shares of our common stock at any time. Below is the activity of conversions during 2019 and 2018 : Year Ended December 31, 2019 December 31, 2018 Series Conversion Rate Units/Shares Common Stock Units/Shares Common Stock Common OP unit 1.0000 485,629 485,629 20,608 20,608 Series A-1 preferred OP unit 2.4390 22,707 55,370 13,430 32,752 Series A-4 preferred OP unit 0.4444 4,708 2,092 13,765 6,116 Series A-4 preferred stock 0.4444 1,062,789 472,366 22,576 10,033 Series C preferred OP unit 1.1100 4,014 4,455 1,919 2,130 Conversions to Common OP Units - Subject to certain limitations, holders can convert certain series OP units to other series of OP units. There was no such conversion in 2018. Below is the activity of conversions during 2019 : Year Ended December 31, 2019 Series Units/Shares Common OP units Series A-4 preferred OP units 405,656 180,277 Dividends Dividend distributions declared for the quarter ended December 31, 2019 are as follows: Dividend Record Date Payment Date Distribution per Share Total Distribution (in Thousands) Common Stock, Common OP units and Restricted Stock 12/31/2019 1/15/2020 $ 0.75 $ 71,704 |
Share-Based Compensation
Share-Based Compensation | 12 Months Ended |
Dec. 31, 2019 | |
Share-based Payment Arrangement, Noncash Expense [Abstract] | |
Share-Based Compensation | As of December 31, 2019 , we had two share-based compensation plans; the Sun Communities, Inc. 2015 Equity Incentive Plan (“2015 Equity Incentive Plan”) and the First Amended and Restated 2004 Non-Employee Director Option Plan (“2004 Non-Employee Director Option Plan”). We believe granting equity awards will provide certain executives, key employees and directors additional incentives to promote our financial success and promote employee and director retention by providing an opportunity to acquire or increase the direct proprietary interest of those individuals in our operations and future. Restricted Stock The majority of our share-based compensation is awarded as service vesting restricted stock grants to executives and key employees. We have also awarded restricted stock to our non-employee directors. We measure the fair value associated with these awards using the closing price of our common stock as of the grant date to calculate compensation cost. Employee awards typically vest over several years and are subject to continued employment by the employee. Award recipients receive distribution payments on unvested shares of restricted stock. 2015 Equity Incentive Plan At the Annual Meeting of Stockholders held on July 20, 2015, the stockholders approved the 2015 Equity Plan. The 2015 Equity Plan had been adopted by the Board and was effective upon approval by our stockholders. The maximum number of shares of common stock that may be issued under the 2015 Equity Plan is 1,750,000 shares of our common stock, with 974,864 shares remaining for future issuance. 2004 Non-Employee Director Option Plan The director plan was approved by our stockholders at the Annual Meeting of Stockholders held on July 19, 2012. The director plan amended and restated in its entirety our 2004 Non-Employee Director Stock Option Plan. At the Annual Meeting of the Stockholders held on May 17, 2018, the stockholders approved the First Amendment to Sun Communities, Inc. First Amended and Restated 2004 Non-Employee Director Option Plan to increase the number of authorized shares under the plan by 200,000 shares. The types of awards that may be granted under the director plan are options, restricted stock and OP units. Only non-employee directors are eligible to participate in the director plan. The maximum number of options, restricted stock and OP units that may be issued under the Director Plan is 375,000 shares, with 191,774 shares remaining for future issuance. During the year ended December 31, 2019 and 2018 , shares were granted as follows: Grant Period Type Plan Shares Granted Grant Date Fair Value Per Share Vesting Type Vesting Anniversary Percentage 2019 Executive Officers 2015 Equity Incentive Plan 44,000 $ 115.39 (1) Time Based 20.0% annually over 5 years 2019 Executive Officers 2015 Equity Incentive Plan 66,000 (2) $ 115.39 (2) Market Condition 3rd 100.0 % 2019 Directors 2004 Non-Employee Director Option Plan 18,000 $ 113.68 (1) Time Based 3rd 100.0 % 2019 Key Employees 2015 Equity Incentive Plan 55,770 $ 120.01 (1) Time Based 20.0% annually over 5 years 2019 Key Employees 2015 Equity Incentive Plan 6,250 $ 142.48 (1) Time Based 20.0% annually over 5 years 2018 Key Employees 2015 Equity Incentive Plan 16,500 $ 88.30 (1) Time Based 2nd 35.0 % 3rd 35.0 % 4th 20.0 % 5th 5.0 % 6th 5.0 % 2018 Key Employees 2015 Equity Incentive Plan 50,100 $ 86.97 (1) Time Based 20.0% annually over 5 years 2018 Executive Officers 2015 Equity Incentive Plan 60,000 $ 87.24 (1) Time Based 20.0% annually over 5 years 2018 Executive Officers 2015 Equity Incentive Plan 90,000 $ 65.24 (3) Market Condition 3rd 100.0 % 2018 Directors 2004 Non-Employee Director Option Plan 16,800 $ 85.28 (1) Time Based 3rd 100.0 % (1) Grant date fair value is measured based on the closing price of our common stock on the date(s) shares are issued. (2) Share-based compensation for restricted stock awards with market and performance conditions is measured based on an estimate of shares expected to vest. We estimate the fair value of share-based compensation for restricted stock with market conditions using a Monte Carlo simulation. At the grant date, our common stock price was $115.39 . Based on the Monte Carlo simulation we expect 75.1% of the 66,000 shares to vest. (3) Share-based compensation for restricted stock awards with market conditions is measured based on an estimate of shares expected to vest. We estimate the fair value of share-based compensation for restricted stock with market conditions using a Monte Carlo simulation. At the grant date, our common stock price was $ 87.24 . Based on the Monte Carlo simulation we expect 74.8% of the 90,000 shares to vest. The following table summarizes our restricted stock activity for the years ended December 31, 2019 , 2018 , and 2017 : Number of Shares Weighted Average Grant Date Fair Value Unvested restricted shares at January 1, 2017 841,634 $ 56.38 Granted 219,400 $ 79.38 Vested (196,412 ) $ 47.60 Forfeited (4,769 ) $ 56.43 Unvested restricted shares at December 31, 2017 859,853 $ 64.25 Granted 233,400 $ 87.12 Vested (214,111 ) $ 54.69 Forfeited (8,025 ) $ 72.16 Unvested restricted shares at December 31, 2018 871,117 $ 72.65 Granted 190,020 $ 117.47 Vested (237,406 ) $ 64.46 Forfeited (10,690 ) $ 79.58 Unvested restricted shares at December 31, 2019 813,041 $ 85.43 Total compensation cost recognized for restricted stock was $17.5 million , $15.1 million , and $12.7 million for the years ended December 31, 2019 , 2018 , and 2017 , respectively. The total fair value of shares vested was $15.3 million , $11.7 million , and $9.3 million for the years ended December 31, 2019 , 2018 and 2017 , respectively. The remaining share-based compensation cost, net related to our unvested restricted shares outstanding as of December 31, 2019 is approximately $39.0 million . The following table summarizes our expected share-based compensation cost, net related to our unvested restricted shares, in millions: 2020 2021 2022 Thereafter Expected share-based compensation costs, net $ 16.6 $ 11.3 $ 7.1 $ 4.0 Options During 2019 , 1,500 non-employee director options exercised for net proceeds of less than $0.2 million . There were no non-employee director options exercised during 2018. At December 31, 2019 , 1,500 fully vested non-employee director options remained outstanding with an intrinsic value of less than $0.1 million . These options had a weighted average exercise price of $37.35 and a weighted average contractual term of approximately 1.6 years . No options have been granted, and there has been no compensation expense associated with non-vested stock option awards for the years ended December 31, 2019 , 2018 , or 2017 . |
Segment Reporting
Segment Reporting | 12 Months Ended |
Dec. 31, 2019 | |
Segment Reporting [Abstract] | |
Segment Reporting | A presentation of our segment financial information is summarized as follows (amounts in thousands): Year Ended December 31, 2019 December 31, 2018 December 31, 2017 Real Property Operations Home Sales and Rentals Consolidated Real Property Operations Home Sales and Rentals Consolidated Real Property Operations Home Sales and Rentals Consolidated Revenues $ 992,545 $ 239,508 $ 1,232,053 $ 880,080 $ 219,688 $ 1,099,768 $ 779,739 $ 177,957 $ 957,696 Operating expenses / Cost of sales 375,690 156,352 532,042 330,695 146,637 477,332 290,016 117,274 407,290 Net operating income / Gross profit 616,855 83,156 700,011 549,385 73,051 622,436 489,723 60,683 550,406 Adjustments to arrive at net income / (loss) Interest and other revenues, net 31,984 — 31,984 27,057 — 27,057 24,875 (1 ) 24,874 Home selling expenses — (14,690 ) (14,690 ) — (15,722 ) (15,722 ) — (12,457 ) (12,457 ) General and administrative expenses (82,320 ) (11,644 ) (93,964 ) (70,512 ) (10,917 ) (81,429 ) (74,548 ) (9,425 ) (83,973 ) Catastrophic weather related charges, net (1,729 ) (8 ) (1,737 ) 140 (232 ) (92 ) (7,856 ) (496 ) (8,352 ) Depreciation and amortization (250,686 ) (77,381 ) (328,067 ) (218,617 ) (68,645 ) (287,262 ) (199,960 ) (61,576 ) (261,536 ) Loss on extinguishment of debt (16,505 ) — (16,505 ) (1,190 ) — (1,190 ) (4,676 ) — (4,676 ) Interest on mandatorily redeemable preferred OP units / equity (4,698 ) — (4,698 ) (3,694 ) — (3,694 ) (3,114 ) — (3,114 ) Interest expense (133,125 ) (28 ) (133,153 ) (130,535 ) (21 ) (130,556 ) (128,456 ) (15 ) (128,471 ) Gain / (loss) on remeasurement of marketable securities 34,240 — 34,240 (3,639 ) — (3,639 ) — — — Other income / (expense), net 3,604 (147 ) 3,457 (6,414 ) (39 ) (6,453 ) 8,983 (1 ) 8,982 Income from nonconsolidated affiliates — 1,374 1,374 — 790 790 — — — Current tax expense (746 ) (349 ) (1,095 ) (372 ) (223 ) (595 ) (62 ) (384 ) (446 ) Deferred tax benefit 222 — 222 507 — 507 582 — 582 Net income / (loss) 197,096 (19,717 ) 177,379 142,116 (21,958 ) 120,158 105,491 (23,672 ) 81,819 Less: Preferred return to preferred OP units / equity (6,058 ) — (6,058 ) (4,486 ) — (4,486 ) (4,581 ) — (4,581 ) Less: Amounts attributable to noncontrolling interests (10,659 ) 891 (9,768 ) (9,512 ) 1,069 (8,443 ) (6,319 ) 1,264 (5,055 ) Net income / (loss) attributable to Sun Communities, Inc. 180,379 (18,826 ) 161,553 128,118 (20,889 ) 107,229 94,591 (22,408 ) 72,183 Less: Preferred stock distribution (1,288 ) — (1,288 ) (1,736 ) — (1,736 ) (7,162 ) — (7,162 ) Net income / (loss) attributable to Sun Communities, Inc. common stockholders $ 179,091 $ (18,826 ) $ 160,265 $ 126,382 $ (20,889 ) $ 105,493 $ 87,429 $ (22,408 ) $ 65,021 |
Income Taxes
Income Taxes | 12 Months Ended |
Dec. 31, 2019 | |
Income Tax Disclosure [Abstract] | |
Income Taxes | We have elected to be taxed as a REIT pursuant to Section 856(c) of the Internal Revenue Code of 1986, as amended (“Code”). In order for us to qualify as a REIT, at least 95.0 percent of our gross income in any year must be derived from qualifying sources. In addition, a REIT must distribute annually at least 90.0 percent of its REIT taxable income (calculated without any deduction for dividends paid and excluding capital gain) to its stockholders and meet other tests. Qualification as a REIT involves the satisfaction of numerous requirements (on an annual and quarterly basis) established under highly technical and complex Code provisions for which there are limited judicial or administrative interpretations and involves the determination of various factual matters and circumstances not entirely within our control. In addition, frequent changes occur in the area of REIT taxation, which requires us to continually monitor our tax status. We analyzed the various REIT tests and confirmed that we continued to qualify as a REIT for the year ended December 31, 2019 . As a REIT, we generally will not be subject to U.S. federal income taxes at the corporate level on the ordinary taxable income we distribute to our stockholders as dividends. If we fail to qualify as a REIT in any taxable year, our taxable income could be subject to U.S. federal income tax at regular corporate rates (including any applicable alternative minimum tax (“AMT”) in 2017 as AMT is no longer applicable for years beginning after 2017). Even if we qualify as a REIT, we may be subject to certain state and local income taxes as well as U.S. federal income and excise taxes on our undistributed income. In addition, taxable income from non-REIT activities managed through taxable REIT subsidiaries (“TRSs”) is subject to federal, state and local income taxes. The Company is also subject to income taxes in Canada as a result of the acquisition of Carefree in 2016 and in Australia as a result of our investment in Ingenia Communities Group in 2018. We do not provide for withholding taxes on our undistributed earnings from our Canadian subsidiaries as they are reinvested and will continue to be reinvested indefinitely outside the United States. However, we did incur $0.2 million of withholding taxes on distributions from our investment in Ingenia Communities Group. For income tax purposes, distributions paid to common stockholders consist of ordinary income, capital gains, and return of capital. For the years ended December 31, 2019 , 2018 , and 2017 , distributions paid per share were taxable as follows (unaudited / rounded): Year Ended December 31, 2019 December 31, 2018 December 31, 2017 Amount Percentage Amount Percentage Amount Percentage Ordinary income (1) $ 1.66 56.0 % $ 1.58 56.4 % $ 0.83 31.2 % Capital gain — — % 0.13 4.8 % — — % Return of capital 1.30 44.0 % 1.09 38.8 % 1.83 68.8 % Total distributions declared $ 2.96 100.0 % $ 2.80 100.0 % $ 2.66 100.0 % (1) 98.8276% % of the ordinary taxable dividend qualifies as Section 199A dividend for 2019 and 1.1724% of the ordinary taxable dividend qualifies as a Qualified Dividend for 2019. On December 22, 2017, the Tax Cuts and Jobs Act of 2017 (the “Tax Act”) was signed into law. Under the Tax Act, the corporate income tax rate is reduced from a maximum marginal rate of 35.0 percent to a flat 21.0 percent. In accordance with ASC 740, “ Accounting for Income Taxes,” we recognized the effect of tax law changes in the period of enactment even though the effective date of most provisions of the Tax Act was January 1, 2018. The components of our provision / (benefit) for income taxes attributable to continuing operations for the year ended December 31, 2019 and 2018 are as follows (amounts in thousands): Year Ended December 31, 2019 December 31, 2018 Federal Current $ (3 ) $ (102 ) State and Local Current 919 701 Deferred — 11 Foreign Current 179 (4 ) Deferred (222 ) (518 ) Total (benefit) / provision $ 873 $ 88 A reconciliation of the provision / (benefit) for income taxes with the amount computed by applying the statutory federal income tax rate to income before provision for income taxes for the year ended December 31, 2019 and 2018 is as follows (amounts in thousands): Year Ended December 31, 2019 December 31, 2018 Pre-tax loss attributable to taxable subsidiaries $ (4,122 ) $ (7,299 ) Federal (benefit) / provision at statutory tax rate (866 ) 21.0 % (1,534 ) 21.0 % State and local taxes, net of federal benefit 42 (1.0 )% — — % Alternative minimum tax — — % — — % Rate differential (73 ) 1.8 % (112 ) 1.5 % Change in valuation allowance 526 (12.7 )% 2,885 (39.5 )% Change in deferred tax asset — — % — — % Others 692 (16.8 )% (1,576 ) 21.6 % Tax (benefit) / provision - taxable subsidiaries 321 (7.7 )% (337 ) 4.6 % Other state taxes - flow through subsidiaries 552 425 Total (benefit) / provision $ 873 $ 88 Our deferred tax assets and liabilities reflect the impact of temporary differences between the amounts of assets and liabilities for financial reporting purposes and the bases of such assets and liabilities as measured by tax laws. Deferred tax assets are reduced, if necessary, by a valuation allowance to the amount where realization is more likely than not assured after considering all available evidence. Our temporary differences primarily relate to net operating loss carryforwards, and depreciation and basis differences between tax and U.S. GAAP. At December 31, 2017, we re-measured the deferred tax assets and liabilities of our U.S. TRSs to reflect the effect of the enacted change in the tax rate under the Tax Act. We have also considered the new tax rate in assessing the need for and change to our existing valuation allowance and adjusted accordingly. Since we have recorded a full valuation allowance against substantially all of our deferred tax assets related to the U.S. TRSs, no material impact on the net deferred tax asset and the provision for income taxes was noted. The deferred tax assets and liabilities included in the consolidated balance sheets are comprised of the following tax effects of temporary differences and based on the Tax Act (amounts in thousands): As of December 31, 2019 December 31, 2018 Deferred Tax Assets NOL carryforwards $ 18,009 $ 18,071 Depreciation and basis differences 28,787 28,140 Other 395 784 Gross deferred tax assets 47,191 46,995 Valuation allowance (45,342 ) (44,817 ) Net deferred tax assets 1,849 2,178 Deferred Tax Liabilities Basis differences - foreign investment (22,813 ) (22,406 ) Gross deferred tax liabilities (22,813 ) (22,406 ) Net Deferred Tax Liability (1) $ (20,964 ) $ (20,228 ) (1) Net deferred tax liability is included within Other liabilities in our Consolidated Balance Sheets. Our U.S. TRS operating loss carryforwards are $ 75.3 million, or $ 15.6 million after tax, including SHS loss carryforwards of $73.0 million , or $ 15.3 million after tax, as of December 31, 2019 . The loss carryforwards will begin to expire in 2023 through 2035 if not offset by future taxable income. In addition, our Canadian subsidiaries have operating loss carryforwards of $9.1 million , or $2.4 million after tax, as of December 31, 2019 . The loss carryforwards will begin to expire in 2033 through 2038 if not offset by future taxable income. We had no unrecognized tax benefits as of December 31, 2019 and 2018 . We expect no significant increases or decreases in unrecognized tax benefits due to changes in tax positions within one year of December 31, 2019 . We classify certain state taxes as income taxes for financial reporting purposes. We recorded a provision for state income taxes of $0.9 million for the year ended December 31, 2019 , $0.7 million for the year ended December 31, 2018 , and $0.7 million for the year ended December 31, 2017 . As previously noted, certain of our subsidiaries are subject to income taxes in the U.S. and various state jurisdictions. Tax regulations within each jurisdiction are subject to the interpretation of the related tax laws and regulations and require application of significant judgment. With few exceptions, we are no longer subject to U.S. federal, state and local, examinations by tax authorities for the tax years ended December 31, 2011 and prior. In addition, our Canadian subsidiaries are subject to taxes in Canada and in the province of Ontario. We are no longer subject to examination by the Canadian tax authorities for the tax years ended December 31, 2012 and prior. Our policy is to report income tax penalties and income tax related interest expense as a component of income tax expense. No interest or penalty associated with any unrecognized income tax benefit or provision was accrued, nor was any income tax related interest or penalty recognized during the years ended December 31, 2019 , 2018 and 2017 . |
Earnings Per Share
Earnings Per Share | 12 Months Ended |
Dec. 31, 2019 | |
Earnings Per Share [Abstract] | |
Earnings Per Share | Earnings Per Share We have outstanding stock options and unvested restricted common shares. Our Operating Partnership has outstanding common OP units, Series A-1 preferred OP units, Series A-3 preferred OP units, Series C preferred OP units, Series D preferred OP units and Aspen preferred OP Units, which, if converted or exercised, may impact dilution. Computations of basic and diluted earnings per share were as follows (in thousands, except per share data): Year Ended December 31, 2019 December 31, 2018 December 31, 2017 Numerator Net Income attributable to Sun Communities, Inc. common stockholders $ 160,265 $ 105,493 $ 65,021 Less allocation to restricted stock awards (1,170 ) (831 ) (455 ) Basic earnings - Net income attributable to common stockholders after allocation to restricted stock awards $ 159,095 $ 104,662 $ 64,566 Add allocation to restricted stock awards 1,170 831 455 Diluted earnings - Net income attributable to common stockholders after allocation to restricted stock awards $ 160,265 $ 105,493 $ 65,021 Denominator Weighted average common shares outstanding 88,460 81,387 76,084 Add: dilutive stock options 1 2 2 Add: dilutive restricted stock 454 651 625 Diluted weighted average common shares and securities 88,915 82,040 76,711 Earnings per share available to common stockholders after allocation Basic earnings per share $ 1.80 $ 1.29 $ 0.85 Diluted earnings per share $ 1.80 $ 1.29 $ 0.85 We have excluded certain securities from the computation of diluted earnings per share because the inclusion of these securities would have been anti-dilutive for the periods presented. The following table presents the outstanding securities that were excluded from the computation of diluted earnings per share for the years ended December 31, 2019 , 2018 and 2017 (amounts in thousands): Year Ended December 31, 2019 December 31, 2018 December 31, 2017 Common OP units 2,420 2,726 2,746 Series A-4 preferred stock — 1,063 1,085 A-3 preferred OP units 40 40 40 A-1 preferred OP units 309 332 345 A-4 preferred OP units — 410 424 Aspen preferred OP units 1,284 1,284 1,284 Series C preferred OP units 310 314 316 Series D preferred OP units 489 — — Total securities 4,852 6,169 6,240 |
Quarterly Financial Information
Quarterly Financial Information | 12 Months Ended |
Dec. 31, 2019 | |
Quarterly Financial Information Disclosure [Abstract] | |
Quarterly Financial Information [Text Block] | Quarterly Financial Information (Unaudited) The following is a condensed summary of our unaudited quarterly results for years ended 2019 and 2018 (in thousands, except per share data): 2019 Quarters 2018 Quarters March 31, 2019 June 30, 2019 September 30, 2019 December 31, 2019 March 31, 2018 June 30, 2018 September 30, 2018 December 31, 2018 Total Revenues $ 287,330 $ 312,445 $ 362,443 $ 301,819 $ 257,975 $ 271,434 $ 323,413 $ 274,003 Total Expenses 252,759 272,273 305,989 293,835 221,871 245,125 273,119 257,162 Income Before Other Items $ 34,571 $ 40,172 $ 56,454 $ 7,984 $ 36,104 $ 26,309 $ 50,294 $ 16,841 Net Income attributable to Sun Communities, Inc. common stockholders $ 34,331 $ 40,385 $ 57,002 $ 28,547 $ 29,986 $ 20,408 $ 46,060 $ 9,039 Earnings per share (1) Basic earnings per share $ 0.40 $ 0.46 $ 0.63 $ 0.31 $ 0.38 $ 0.25 $ 0.56 $ 0.11 Diluted earnings per share $ 0.40 $ 0.46 $ 0.63 $ 0.31 $ 0.38 $ 0.25 $ 0.56 $ 0.11 (1) Earnings per share for the year may not equal the sum of the fiscal quarters’ earnings per share due to changes in basic and diluted shares outstanding. |
Fair Value of Financial Instrum
Fair Value of Financial Instruments | 12 Months Ended |
Dec. 31, 2019 | |
Fair Value Disclosures [Abstract] | |
Fair Value Of Financial Instruments | Our financial instruments consist primarily of cash, cash equivalents and restricted cash, marketable securities, accounts and notes receivable, accounts payable, and debt. ASC Topic 820 “ Fair Value Measurements and Disclosures, ” requires disclosure regarding determination of fair value for assets and liabilities and establishes a hierarchy under which these assets and liabilities must be grouped, based on significant levels of observable or unobservable inputs. Observable inputs reflect market data obtained from independent sources, while unobservable inputs reflect the Company’s market assumption. This hierarchy requires the use of observable market data when available. These two types of inputs have created the following fair value hierarchy: Level 1—Quoted unadjusted prices for identical instruments in active markets; Level 2—Quoted prices for similar instruments in active markets, quoted prices for identical or similar instruments in markets that are not active and model-derived valuations in which all significant inputs and significant value drivers are observable in active markets; and Level 3—Valuations derived from valuation techniques in which one or more significant inputs or significant value drivers are unobservable. We utilize fair value measurements to record fair value adjustments to certain assets and liabilities and to determine fair value disclosures. The following methods and assumptions were used in order to estimate the fair value of each class of financial instruments for which it is practicable to estimate that value: Marketable Securities Marketable securities held by us and accounted for under the ASC 321 “ Investment Equity Securities ” are measured at fair value. Any change in fair value is recognized in the Consolidated Statement of Operations in Remeasurement of marketable securities in accordance with ASU 2016-01 “ Financial Instruments - Overall (Subtopic 825-10): Recognition and measurement of financial assets and financial liabilities .” The fair value is measured by the quoted unadjusted share price which is readily available in active markets (Level 1). Installment Notes Receivable on Manufactured Homes The net carrying value of the installment notes receivable on manufactured homes estimates the fair value as the interest rates in the portfolio are comparable to current prevailing market rates (Level 2). Refer Note 5 , “ Notes and Other Receivables .” Notes Receivable from Real Estate Developers The net carrying value of the notes receivable from real estate developers estimates the fair value as the interest rates in the portfolio are comparable to current prevailing market rates (Level 2). Refer Note 5 , “ Notes and Other Receivables .” Long Term Debt and Lines of Credit The fair value of long-term debt (excluding the secured borrowing) is based on the estimates of management and on rates currently quoted, rates currently prevailing for comparable loans, and instruments of comparable maturities (Level 2). Refer to Note 9 , “ Debt and Lines of Credit .” Collateralized Receivables and Secured Borrowing The fair value of these financial instruments offset each other as our collateralized receivables represent a transfer of financial assets and the cash proceeds received from these transactions have been classified as a secured borrowing on the Consolidated Balance Sheets. The net carrying value of the collateralized receivables estimates the fair value as the interest rates in the portfolio are comparable to current prevailing market rates (Level 2). Refer to Note 4 , “ Collateralized Receivables and Transfers of Financial Assets .” Financial Liabilities We estimate the fair value of our contingent consideration liability based on discounting of future cash flows using market interest rates and adjusting for nonperformance risk over the remaining term of the liability (Level 2). Other Financial Instruments The carrying values of cash and cash equivalents, accounts receivable, and accounts payable approximate their fair market values due to the short-term nature of those instruments. The table below sets forth our financial assets and liabilities that required disclosure of fair value on a recurring basis as of December 31, 2019 . The table presents the carrying values and fair values of our financial instruments as of December 31, 2019 and December 31, 2018 , that were measured using the valuation techniques described above (in thousands). The table excludes other financial instruments such as cash and cash equivalents, accounts receivable, and accounts payable as the carrying values associated with these instruments approximate fair value since their maturities are less than one year. December 31, 2019 December 31, 2018 Financial assets Carrying Value Fair Value Carrying Value Fair Value Marketable securities $ 94,727 $ 94,727 $ 49,037 $ 49,037 Installment notes receivable on manufactured homes, net 95,580 95,580 112,798 112,798 Collateralized receivables, net — — 106,924 106,924 Notes receivable from real estate developers 18,960 18,960 — — Total $ 209,267 $ 209,267 $ 268,759 $ 268,759 Financial liabilities Debt (excluding secured borrowings) $ 3,250,504 $ 3,270,544 $ 2,888,572 $ 2,757,649 Secured borrowings — — 107,731 107,731 Lines of credit 183,898 183,898 128,000 128,000 Other liabilities (contingent consideration) 6,134 6,134 4,640 4,640 Total $ 3,440,536 $ 3,460,576 $ 3,128,943 $ 2,998,020 |
Recent Accounting Pronouncement
Recent Accounting Pronouncements | 12 Months Ended |
Dec. 31, 2019 | |
New Accounting Pronouncements and Changes in Accounting Principles [Abstract] | |
New Accounting Pronouncements and Changes in Accounting Principles [Text Block] | Recent Accounting Pronouncements - Adopted In February 2016, the FASB issued ASC 2016-02 codified in ASC Topic 842, Leases, which amends the guidance in former ASC Topic 840, Leases. On January 1, 2019, we adopted ASC 2016-02. The new standard increases transparency and comparability most significantly by requiring the recognition by lessees of right of-use (“ROU”) assets and lease liabilities on the balance sheet for those leases classified as operating leases and disclose key information about leasing arrangements. As amended by ASU 2018-11, comparative reporting periods are presented in accordance with Topic 840, while periods subsequent to the effective date are presented in accordance with Topic 842. The Company elected the package of practical expedients, which permits the Company not to reassess expired or existing contracts containing a lease, the lease classification for expired or existing contracts, initial direct costs for any existing leases. The Company elected not to allocate lease obligation between lease and non-lease components of our agreements for both leases where we are a lessor and leases where we are a lessee. The Company did not elect the hindsight practical expedient, which permits the company to use hindsight in determining the lease terms and impairment implications. The Company did not elect to use a portfolio approach in the valuation of ROU assets and corresponding liabilities. Some ROU assets include an extension option, which is included in the ROU assets and liabilities only if we are reasonably certain to exercise. Lessor Accounting Our income from real property and rental home revenue streams are derived from rental agreements where we are the lessor. Our recognition of rental revenue remains mainly consistent with previous guidance, apart from the narrower definition of initial direct costs that can be capitalized. ASC 842 limits the definition of initial direct costs to only the incremental costs of signing a lease. Internal sales employees’ compensation, payroll-related fringe benefits, certain legal fees rendered prior to the execution of a lease, negotiation costs, advertising and other origination effort costs no longer meet the definition of initial direct costs under the new standard, and will be accounted for as general and administrative expense in our consolidated statements of operations. ASC 842 permits the capitalization of direct commission costs. The application of ASC 842 resulted in an immaterial impact on the statement of consolidated operations. Our leases with customers are classified as operating leases. Lease income from tenants is recognized on a straight-line basis over the terms of the relevant lease agreement and is included within income from real property, rental home revenue and ancillary revenue on the Consolidated Statements of Operations. Revenue is not recognized when collection is not reasonably assured. When collectability is not reasonably assured, the resident is placed on non-accrual status and revenue is recognized when cash payments are received. Lessee Accounting We determine if an arrangement is a lease at inception. Our operating lease agreements are primarily for executive office spaces, ground leases at certain communities, and certain equipment leases. The ROU asset and ROU liabilities are included within Other assets, net and Other liabilities on the Consolidated Balance Sheets. For operating leases with a term greater than one year, the company recognizes the ROU assets and liabilities related to the lease payments on the Consolidated Balance Sheets. The lease liabilities are initially and subsequently measured at the present value of the unpaid lease payments at the lease commencement date. The ROU assets represent our right to use the underlying assets for the term of the lease and the lease liabilities represent our obligation to make lease payments arising for the agreements. The ROU asset is initially measured at cost, which comprises the initial amount of the lease liability adjusted for lease payments made at or before the lease commencement date, plus any initial direct costs incurred less any lease incentives received. The ROU asset is subsequently measured throughout the lease term at the carrying amount of the lease liability, plus unamortized initial direct costs, plus (minus) any prepaid (accrued) lease payments, less the unamortized balance of lease incentives received. Lease expense for lease payments is recognized on a straight-line basis over the lease term. The ROU asset is periodically reduced by impairment losses. As of December 31, 2019 , we have not encountered any impairment losses. Variable lease payments, except for the ones that depend on index or rate, are excluded from the calculation of the ROU assets and lease liabilities and are recognized as variable lease expense in the Consolidated Statements of Operations in the period in which they are incurred. As most of our leases do not provide an implicit rate, we use our incremental borrowing rate based on the information available at commencement date in determining the present value of lease payments. Many of our lessee agreements include options to extend the lease, which we do not include in our minimum lease terms unless they are reasonably certain to be exercised. The lease liability costs are amortized over the straight-line method over the term of the lease. Operating leases with a term of less than one year are recognized as a lease expense over the term of the lease, with no asset or liability recognized on the Consolidated Balance Sheets. Finance leases where we are the lessee are included in Other assets, net and Other liabilities on our Consolidated Balance Sheets. The lease liabilities are initially measured in the same manner as operating leases and are subsequently measured at amortized cost using the effective interest method. The ROU asset is initially measured at cost, which comprises the initial amount of the lease liability adjusted for lease payments made at or before the lease commencement date, plus any initial direct costs incurred less any lease incentives received. For finance leases the ROU asset is subsequently amortized using the straight-line method from the lease commencement date to the earlier of the end of its useful life or the end of the lease term unless the lease transfers ownership of the underlying asset to us, or we are reasonably certain to exercise an option to purchase the underlying asset. In those cases, the ROU asset is amortized over the useful life of the underlying asset. Amortization of the ROU asset is recognized and presented separately from interest expense on the lease liability. ROU assets are periodically reduced by impairment losses. As of December 31, 2019 , we have not encountered any impairment losses. Refer to Note 19 , “ Leases ” for information regarding leasing activities. Recent Accounting Pronouncements - Not Yet Adopted In June 2016, the FASB issued ASU 2016-13 “Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments . ” “CECL” This update replaces the incurred loss impairment methodology in current GAAP with a methodology that reflects expected credit losses and requires consideration of a broader range of reasonable and supportable information to inform credit loss estimates. The amendments in this update are effective for fiscal years beginning after December 15, 2019, including interim periods within those fiscal years. As of January 1, 2020, we adopted the fair value option for our installment notes receivable and the notes receivable within the GTSC joint venture which resulted in fair value adjustments of $ 0.3 million and $ 0.6 million, respectively. We do not expect the impact of the adoption of CECL on the remaining in scope financial instruments to be material. |
Commitments And Contingencies
Commitments And Contingencies | 12 Months Ended |
Dec. 31, 2019 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments And Contingencies | Legal Proceedings We are involved in various legal proceedings arising in the ordinary course of business. All such proceedings, taken together, are not expected to have a material adverse impact on our results of operations or financial condition. |
Leases (Notes)
Leases (Notes) | 12 Months Ended |
Dec. 31, 2019 | |
Entire Note [Abstract] | |
Lessor, Operating Leases [Text Block] | 19 . Leases Lessee accounting Future minimum lease payments under non-cancellable leases as of the year ended December 31, 2019 where we are the lessee include: Maturity of lease liabilities (in thousands) Operating Leases Finance Leases Total 2020 $ 2,397 $ 120 $ 2,517 2021 2,446 120 2,566 2022 2,483 120 2,603 2023 2,572 120 2,692 2024 2,868 4,060 6,928 Thereafter 32,277 — 32,277 Total lease payments $ 45,043 $ 4,540 $ 49,583 Less: Imputed interest (20,821 ) (459 ) (21,280 ) Present value of lease liabilities $ 24,222 $ 4,081 $ 28,303 ROU assets and lease liabilities for finance and operating leases as included in our Consolidated Financial Statements are as follows: Lease asset and liabilities (in thousands) Description Financial Statement Classification December 31, 2019 Description Financial Statement Classification December 31, 2018 Lease assets Right-of-use asset obtained in exchange for new finance lease liabilities Other asset, net $ 4,081 Capital lease asset Land $ 4,098 Right-of-use asset obtained in exchange for new operating lease liabilities Other asset, net $ 23,751 n/a Right-of-use asset obtained relative to below market operating lease Other asset, net $ 28,366 Below market Lease intangible asset Other Asset, net $ 29,118 Lease liabilities Finance lease liabilities Other liabilities $ 4,081 Capital lease liabilities Other Liabilities $ 4,098 Operating lease liabilities Other liabilities $ 24,222 n/a Lease expense for finance and operating leases as included in our Consolidated Financial Statements are as follows: Lease expense (in thousands) Year Ended December 31, Description Financial Statement Classification 2019 Finance lease expense Amortization of right-of-use assets Interest expense $ 17 Interest on lease liabilities Interest expense 103 Operating lease cost General and administrative expense, Property operating and maintenance 3,474 Variable lease cost Property operating and maintenance 1,584 Total lease expense $ 5,178 Year Ended Description Financial Statement Classification December 31, 2018 December 31, 2017 Capital lease expense Amortization of lease Interest expense $ 16 $ — Interest on lease liabilities Interest expense 104 — Operating lease expense General and administrative expense, Property operating and maintenance 3,310 3,303 Below market ground lease amortization expense Property operating and maintenance 821 1,017 Total lease expense $ 4,251 $ 4,320 In June 2018, we acquired 50 percent of a land parcel that was previously subject to a ground lease at one of our California communities for $8.0 million . As a result of the transaction, we wrote off $ 1.1 million of the gross carrying amount of the ground lease intangible and $0.3 million of the related accumulated amortization. The $0.8 million net write off is included within the Property operating and maintenance expenses in our Consolidated Statements of Operations for the year ended December 31, 2018. Lease term, discount rates and additional information for finance and operating leases are as follows: Lease term and discount rate December 31, 2019 Weighted-average remaining lease terms (years) Finance lease 4.50 Operating lease 27.15 Weighted-average discount rate Finance lease 2.50 % Operating lease 4.15 % Other Information (in thousands) Year Ended December 31, 2019 December 31, 2018 December 31, 2017 Cash paid for amounts included in the measurement of lease liabilities Operating Cash Flow from Operating leases $ 2,199 $ 3,340 $ 3,182 Financing Cash Flow from Finance leases 120 120 121 Total Cash paid on lease liabilities $ 2,319 $ 3,460 $ 3,303 As of the year ended December 31, 2019 , we have an additional executive office space operating lease for $2.9 million which will commence in January 2020 with a lease term of seven years . Lessor Accounting We are not the lessor for any finance leases as of December 31, 2019 . Over 95 percent of our operating leases where we are the lessor are either month to month or for a time period not to exceed one year. As of the reporting date, future minimum lease payments would not exceed twelve months. Similarly, over 95 percent of our investment property, net on the Consolidated Balance Sheets, and related depreciation amounts relate to assets whereby we are the lessor under an operating lease. |
Lessee, Finance Leases [Text Block] | 19 . Leases Lessee accounting Future minimum lease payments under non-cancellable leases as of the year ended December 31, 2019 where we are the lessee include: Maturity of lease liabilities (in thousands) Operating Leases Finance Leases Total 2020 $ 2,397 $ 120 $ 2,517 2021 2,446 120 2,566 2022 2,483 120 2,603 2023 2,572 120 2,692 2024 2,868 4,060 6,928 Thereafter 32,277 — 32,277 Total lease payments $ 45,043 $ 4,540 $ 49,583 Less: Imputed interest (20,821 ) (459 ) (21,280 ) Present value of lease liabilities $ 24,222 $ 4,081 $ 28,303 ROU assets and lease liabilities for finance and operating leases as included in our Consolidated Financial Statements are as follows: Lease asset and liabilities (in thousands) Description Financial Statement Classification December 31, 2019 Description Financial Statement Classification December 31, 2018 Lease assets Right-of-use asset obtained in exchange for new finance lease liabilities Other asset, net $ 4,081 Capital lease asset Land $ 4,098 Right-of-use asset obtained in exchange for new operating lease liabilities Other asset, net $ 23,751 n/a Right-of-use asset obtained relative to below market operating lease Other asset, net $ 28,366 Below market Lease intangible asset Other Asset, net $ 29,118 Lease liabilities Finance lease liabilities Other liabilities $ 4,081 Capital lease liabilities Other Liabilities $ 4,098 Operating lease liabilities Other liabilities $ 24,222 n/a Lease expense for finance and operating leases as included in our Consolidated Financial Statements are as follows: Lease expense (in thousands) Year Ended December 31, Description Financial Statement Classification 2019 Finance lease expense Amortization of right-of-use assets Interest expense $ 17 Interest on lease liabilities Interest expense 103 Operating lease cost General and administrative expense, Property operating and maintenance 3,474 Variable lease cost Property operating and maintenance 1,584 Total lease expense $ 5,178 Year Ended Description Financial Statement Classification December 31, 2018 December 31, 2017 Capital lease expense Amortization of lease Interest expense $ 16 $ — Interest on lease liabilities Interest expense 104 — Operating lease expense General and administrative expense, Property operating and maintenance 3,310 3,303 Below market ground lease amortization expense Property operating and maintenance 821 1,017 Total lease expense $ 4,251 $ 4,320 In June 2018, we acquired 50 percent of a land parcel that was previously subject to a ground lease at one of our California communities for $8.0 million . As a result of the transaction, we wrote off $ 1.1 million of the gross carrying amount of the ground lease intangible and $0.3 million of the related accumulated amortization. The $0.8 million net write off is included within the Property operating and maintenance expenses in our Consolidated Statements of Operations for the year ended December 31, 2018. Lease term, discount rates and additional information for finance and operating leases are as follows: Lease term and discount rate December 31, 2019 Weighted-average remaining lease terms (years) Finance lease 4.50 Operating lease 27.15 Weighted-average discount rate Finance lease 2.50 % Operating lease 4.15 % Other Information (in thousands) Year Ended December 31, 2019 December 31, 2018 December 31, 2017 Cash paid for amounts included in the measurement of lease liabilities Operating Cash Flow from Operating leases $ 2,199 $ 3,340 $ 3,182 Financing Cash Flow from Finance leases 120 120 121 Total Cash paid on lease liabilities $ 2,319 $ 3,460 $ 3,303 As of the year ended December 31, 2019 , we have an additional executive office space operating lease for $2.9 million which will commence in January 2020 with a lease term of seven years . Lessor Accounting We are not the lessor for any finance leases as of December 31, 2019 . Over 95 percent of our operating leases where we are the lessor are either month to month or for a time period not to exceed one year. As of the reporting date, future minimum lease payments would not exceed twelve months. Similarly, over 95 percent of our investment property, net on the Consolidated Balance Sheets, and related depreciation amounts relate to assets whereby we are the lessor under an operating lease. |
Lessee, Operating Leases [Text Block] | 19 . Leases Lessee accounting Future minimum lease payments under non-cancellable leases as of the year ended December 31, 2019 where we are the lessee include: Maturity of lease liabilities (in thousands) Operating Leases Finance Leases Total 2020 $ 2,397 $ 120 $ 2,517 2021 2,446 120 2,566 2022 2,483 120 2,603 2023 2,572 120 2,692 2024 2,868 4,060 6,928 Thereafter 32,277 — 32,277 Total lease payments $ 45,043 $ 4,540 $ 49,583 Less: Imputed interest (20,821 ) (459 ) (21,280 ) Present value of lease liabilities $ 24,222 $ 4,081 $ 28,303 ROU assets and lease liabilities for finance and operating leases as included in our Consolidated Financial Statements are as follows: Lease asset and liabilities (in thousands) Description Financial Statement Classification December 31, 2019 Description Financial Statement Classification December 31, 2018 Lease assets Right-of-use asset obtained in exchange for new finance lease liabilities Other asset, net $ 4,081 Capital lease asset Land $ 4,098 Right-of-use asset obtained in exchange for new operating lease liabilities Other asset, net $ 23,751 n/a Right-of-use asset obtained relative to below market operating lease Other asset, net $ 28,366 Below market Lease intangible asset Other Asset, net $ 29,118 Lease liabilities Finance lease liabilities Other liabilities $ 4,081 Capital lease liabilities Other Liabilities $ 4,098 Operating lease liabilities Other liabilities $ 24,222 n/a Lease expense for finance and operating leases as included in our Consolidated Financial Statements are as follows: Lease expense (in thousands) Year Ended December 31, Description Financial Statement Classification 2019 Finance lease expense Amortization of right-of-use assets Interest expense $ 17 Interest on lease liabilities Interest expense 103 Operating lease cost General and administrative expense, Property operating and maintenance 3,474 Variable lease cost Property operating and maintenance 1,584 Total lease expense $ 5,178 Year Ended Description Financial Statement Classification December 31, 2018 December 31, 2017 Capital lease expense Amortization of lease Interest expense $ 16 $ — Interest on lease liabilities Interest expense 104 — Operating lease expense General and administrative expense, Property operating and maintenance 3,310 3,303 Below market ground lease amortization expense Property operating and maintenance 821 1,017 Total lease expense $ 4,251 $ 4,320 In June 2018, we acquired 50 percent of a land parcel that was previously subject to a ground lease at one of our California communities for $8.0 million . As a result of the transaction, we wrote off $ 1.1 million of the gross carrying amount of the ground lease intangible and $0.3 million of the related accumulated amortization. The $0.8 million net write off is included within the Property operating and maintenance expenses in our Consolidated Statements of Operations for the year ended December 31, 2018. Lease term, discount rates and additional information for finance and operating leases are as follows: Lease term and discount rate December 31, 2019 Weighted-average remaining lease terms (years) Finance lease 4.50 Operating lease 27.15 Weighted-average discount rate Finance lease 2.50 % Operating lease 4.15 % Other Information (in thousands) Year Ended December 31, 2019 December 31, 2018 December 31, 2017 Cash paid for amounts included in the measurement of lease liabilities Operating Cash Flow from Operating leases $ 2,199 $ 3,340 $ 3,182 Financing Cash Flow from Finance leases 120 120 121 Total Cash paid on lease liabilities $ 2,319 $ 3,460 $ 3,303 As of the year ended December 31, 2019 , we have an additional executive office space operating lease for $2.9 million which will commence in January 2020 with a lease term of seven years . Lessor Accounting We are not the lessor for any finance leases as of December 31, 2019 . Over 95 percent of our operating leases where we are the lessor are either month to month or for a time period not to exceed one year. As of the reporting date, future minimum lease payments would not exceed twelve months. Similarly, over 95 percent of our investment property, net on the Consolidated Balance Sheets, and related depreciation amounts relate to assets whereby we are the lessor under an operating lease. |
Related Party Transactions
Related Party Transactions | 12 Months Ended |
Dec. 31, 2019 | |
Related Party Transactions [Abstract] | |
Related Party Transactions Disclosure [Text Block] | Related Party Transactions Lease of Executive Offices. Gary A. Shiffman, together with certain of his family members, indirectly owns an equity interest of approximately 28.1 percent in American Center LLC, the entity from which we lease office space for our principal executive offices. Each of Brian M. Hermelin, Ronald A. Klein and Arthur A. Weiss indirectly owns a less than one percent interest in American Center LLC. Mr. Shiffman is our Chief Executive Officer and Chairman of the Board. Each of Mr. Hermelin, Mr. Klein and Mr. Weiss is a director of the Company. Under this agreement, we lease approximately 103,100 rentable square feet of permanent space. The initial term of the lease is until October 31, 2026, and the average gross base rent is $18.95 per square foot until October 31, 2020 with graduated rental increases thereafter. Each of Mr. Shiffman, Mr. Hermelin, Mr. Klein and Mr. Weiss may have a conflict of interest with respect to his obligations as our officer and/or director and his ownership interest in American Center LLC. Use of Airplane . Gary A. Shiffman is the beneficial owner of an airplane that we use from time to time for business purposes. During the year ended December 31, 2019, we paid $0.4 million for the use of the airplane. Mr. Shiffman may have a conflict of interest with respect to his obligations as our officer and director and his ownership interest in the airplane. Telephone Services . Brian M. Hermelin is a principal and a beneficial owner of an entity that installs and maintains emergency telephone systems at our Properties. During the year ended December 31, 2019, we paid $0.2 million for these services. Mr. Hermelin may have a conflict of interest with respect to his obligations as our director and his position with and ownership interest in the provider of these services. Legal Counsel . During 2017- 2019 , Jaffe, Raitt, Heuer, & Weiss, Professional Corporation acted as our general counsel and represented us in various matters. Arthur A. Weiss is the Chairman of the Board of Directors and a shareholder of such firm. We incurred legal fees and expenses owed to Jaffe, Raitt, Heuer, & Weiss of approximately $11.1 million , $7.1 million and $5.0 million in the years ended December 31, 2019 , 2018 and 2017 , respectively. Tax Consequences Upon Sale of Properties. Gary A. Shiffman holds limited partnership interests in the Operating Partnership which were received in connection with the contribution of properties from partnerships previously affiliated with him. Prior to any redemption of these limited partnership interests for our common stock, Mr. Shiffman will have tax consequences different from those on us and our public stockholders upon the sale of any of these partnerships. Therefore, we and Mr. Shiffman may have different objectives regarding the appropriate pricing and timing of any sale of those properties. |
Subsequent Events Subsequent Ev
Subsequent Events Subsequent Events | 12 Months Ended |
Dec. 31, 2019 | |
Subsequent Events [Abstract] | |
Subsequent Events | . Subsequent Events Subsequent to the quarter ended December 31, 2019, we acquired one MH community located in East Falmouth, Massachusetts for $ 13.5 million , containing 230 RV sites. In conjunction with the acquisition, the Operating Partnership created a new class of OP units named Series E preferred OP units. As of February 13, 2020, 90,000 Series E preferred OP units were outstanding. The Series E preferred OP units provide for quarterly distributions on the $100 per unit issue price of 5.3 percent per year until January 9, 2022, and 5.5 percent per year thereafter. Subject to certain limitations, each Series E Preferred Unit is exchangeable at any time after the first anniversary of its issuance date into that number of shares of the Company’s common stock equal to the quotient obtained by dividing $100.00 by $145.00 (as such ratio is subject to adjustment for certain capital events). On January 13, 2020, the Operating Partnership’s partnership agreement was amended to revise the terms of 270,000 of the operating partnership’s outstanding 1,283,819 Aspen preferred OP units. With respect to those 270,000 units, the automatic redemption date was extended to January 2, 2034 (as compared to January 2, 2024 for the other Aspen preferred OP units) and the annual distribution rate was reduced to 3.8 percent (as compared to a rate determined by a formula, currently 6.5 percent , for the other Aspen preferred OP units). We have evaluated our Consolidated Financial Statements for subsequent events through the date that this Form 10-K was issued. |
SCHEDULE III
SCHEDULE III | 3 Months Ended |
Mar. 31, 2019 | |
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation Disclosure [Abstract] | |
Real Estate and Accumulated Depreciation Disclosure [Text Block] | Encumbrance Initial Cost to Company Costs Capitalized Subsequent to Acquisition (Improvements) Gross Amount Carried at December 31, 2019 Property Name Location Group Amount Land Depreciable Assets Land Depreciable Assets Land Depreciable Assets Total Accumulated Depreciation Date Acquired (A) or Constructed (C) 49’er Village RV Resort Plymouth, CA C $ — $ 2,180 $ 10,710 $ — $ 2,252 $ 2,180 $ 12,962 $ 15,142 $ (1,251 ) 2017 (A) Academy / West Point Canton, MI — — 1,485 14,278 — 9,496 1,485 23,774 25,259 (12,715 ) 2000 (A) Adirondack Gateway RV Resort & Campground Gansevoort, NY — — 620 1,970 — 2,577 620 4,547 5,167 (599 ) 2016 (A) Allendale Meadows Mobile Village Allendale, MI — — 366 3,684 — 10,928 366 14,612 14,978 (8,782 ) 1996 (A) Alpine Meadows Mobile Village Grand Rapids, MI A 10,895 729 6,692 — 10,072 729 16,764 17,493 (10,114 ) 1996 (A&C) Alta Laguna Rancho Cucamonga, CA D 28,090 23,736 21,088 — 1,687 23,736 22,775 46,511 (2,768 ) 2016 (A) Apple Carr Village Muskegon, MI — — 800 6,172 336 18,359 1,136 24,531 25,667 (5,138 ) 2011 (A&C) Apple Creek Amelia, OH B 7,582 543 5,480 — 2,901 543 8,381 8,924 (4,546 ) 1999 (A) Arbor Terrace RV Park Bradenton, FL C — 456 4,410 — 5,412 456 9,822 10,278 (5,142 ) 1996 (A) Arbor Woods Ypsilanti, MI — — 3,340 12,385 — 11,303 3,340 23,688 27,028 (2,707 ) 2017 (A) Archview RV Resort & Campground Moab, UT — — 6,289 8,419 5 305 6,294 8,724 15,018 (490 ) 2018 (A) Ariana Village Lakeland, FL D 5,340 240 2,195 — 1,873 240 4,068 4,308 (2,364 ) 1994 (A) Arran Lake RV Resort & Campground Allenford, ON — — 1,190 1,175 (28 ) (1 ) 387 1,162 1,562 2,724 (203 ) 2016 (A) Austin Lone Star RV Resort Austin, TX C — 630 7,913 — 2,104 630 10,017 10,647 (1,257 ) 2016 (A) Autumn Ridge Ankeny, IA D 24,344 890 8,054 (33 ) (3 ) 5,835 857 13,889 14,746 (7,992 ) 1996 (A) Bahia Vista Estates Sarasota, FL — — 6,810 17,650 — 1,804 6,810 19,454 26,264 (2,277 ) 2016 (A) Baker Acres RV Resort Zephyrhills, FL E 7,218 2,140 11,880 — 2,520 2,140 14,400 16,540 (1,743 ) 2016 (A) Beechwood (4) Killingworth, CT C — 7,897 18,400 — 5 7,897 18,405 26,302 (307 ) 2019 (A) Bell Crossing Clarksville, TN B 9,425 717 1,916 (13 ) (3 ) 8,330 704 10,246 10,950 (6,134 ) 1999 (A&C) Big Timber Lake RV Camping Resort Cape May Court House, NJ A 10,833 590 21,308 — 2,195 590 23,503 24,093 (5,827 ) 2013 (A) Big Tree RV Resort Arcadia, FL — — 1,250 13,534 — 2,627 1,250 16,161 17,411 (1,991 ) 2016 (A) Blazing Star San Antonio, TX C — 750 6,163 — 1,764 750 7,927 8,677 (2,407 ) 2012 (A) Blue Heron Pines Punta Gorda, FL E 18,066 410 35,294 — 5,043 410 40,337 40,747 (5,829 ) 2015 (A&C) Blue Jay MH & RV Resort Dade City, FL — — 2,040 9,679 — 1,703 2,040 11,382 13,422 (1,343 ) 2016 (A) Blue Star / Lost Dutchman MH & RV Resort Apache Junction, AZ E 6,406 5,120 12,720 — 5,627 5,120 18,347 23,467 (3,497 ) 2014 (A) Blueberry Hill Bushnell, FL C — 3,830 3,240 — 3,646 3,830 6,886 10,716 (2,285 ) 2012 (A) Boulder Ridge Pflugerville, TX B 26,945 1,000 500 3,324 49,478 4,324 49,978 54,302 (13,237 ) 1998 (C) Branch Creek Estates Austin, TX D 23,249 796 3,716 — 7,047 796 10,763 11,559 (6,525 ) 1995 (A&C) Brentwood Estates Hudson, FL B 5,838 1,150 9,359 — 3,049 1,150 12,408 13,558 (2,035 ) 2015 (A) Brentwood Mobile Village Kentwood, MI E 10,308 385 3,592 — 2,004 385 5,596 5,981 (3,571 ) 1996 (A) Encumbrance Initial Cost to Company Costs Capitalized Subsequent to Acquisition (Improvements) Gross Amount Carried at December 31, 2019 Property Name Location Group Amount Land Depreciable Assets Land Depreciable Assets Land Depreciable Assets Total Accumulated Depreciation Date Acquired (A) or Constructed (C) Brentwood West Mesa, AZ D 28,800 13,620 24,202 — 1,052 13,620 25,254 38,874 (4,911 ) 2014 (A) Broadview Estates Davison, MI A 4,805 749 6,089 — 17,136 749 23,225 23,974 (12,158 ) 1996 (A&C) Brook Ridge (4) Hooksett, NH C — 959 5,971 — — 959 5,971 6,930 (100 ) 2019 (A) Brookside Mobile Home Village Goshen, IN — — 260 1,080 386 19,555 646 20,635 21,281 (10,050 ) 1985 (A&C) Brookside Village Kentwood, MI D 6,886 170 5,564 — 392 170 5,956 6,126 (1,650 ) 2011 (A) Buena Vista (4) Buckeye, AZ — — 9,190 14,363 — 59 9,190 14,422 23,612 (313 ) 2019 (A) Buttonwood Bay MH & RV Resort Sebring, FL D 32,107 1,952 18,294 — 7,341 1,952 25,635 27,587 (14,582 ) 2001 (A) Byron Center Mobile Village Byron Center, MI A 3,235 253 2,402 — 1,815 253 4,217 4,470 (2,684 ) 1996 (A) Caliente Sands Cathedral City, CA — — 1,930 6,710 — 640 1,930 7,350 9,280 (612 ) 2017 (A) Camelot Villa Macomb, MI A 16,442 910 21,211 — 12,349 910 33,560 34,470 (8,482 ) 2013 (A) Campers Haven RV Resort Dennisport, MA D 16,300 14,260 11,915 — 8,230 14,260 20,145 34,405 (1,874 ) 2016 (A) Candlelight Manor South Daytona, FL — — 3,140 3,867 — 2,650 3,140 6,517 9,657 (708 ) 2016 (A) Candlelight Village Sauk Village, IL A 7,222 600 5,623 — 11,926 600 17,549 18,149 (10,139 ) 1996 (A) Canyonlands RV Resort & Campground Moab, UT — — 3,661 7,415 1 519 3,662 7,934 11,596 (469 ) 2018 (A) Cape May Crossing Cape May, NJ — — 270 1,693 — 494 270 2,187 2,457 (260 ) 2016 (A) Cape May KOA Cape May, NJ C — 650 7,736 — 7,950 650 15,686 16,336 (4,287 ) 2013 (A) Carolina Pines RV Resort Longs, SC — — 5,900 — 694 — 6,594 63,828 70,422 (966 ) 2017 (A) Carriage Cove Sanford, FL E 16,716 6,050 21,235 — 1,977 6,050 23,212 29,262 (4,426 ) 2014 (A) Carrington Pointe Ft. Wayne, IN — — 1,076 3,632 (1 ) (3 ) 18,984 1,075 22,616 23,691 (7,753 ) 1997 (A&C) Castaways RV Resort & Campground Berlin, MD A 20,607 14,320 22,277 — 5,150 14,320 27,427 41,747 (6,131 ) 2014 (A&C) Cava Robles RV Resort Paso Robles, CA — — 1,396 — — — 1,396 39,084 40,480 (2,668 ) 2014 (C) Cave Creek Evans, CO B 24,811 2,241 15,343 — 9,338 2,241 24,681 26,922 (9,921 ) 2004 (C) Cedar Springs (4) Southington, CT C — 2,899 10,253 — 22 2,899 10,275 13,174 (171 ) 2019 (A) Central Park MH & RV Resort Haines City, FL C — 2,600 10,405 — 3,507 2,600 13,912 16,512 (1,525 ) 2016 (A) Cherrywood (4) Clinton, NY C — 662 9,629 — 57 662 9,686 10,348 (160 ) 2019 (A) Chisholm Point Estates Pflugerville, TX D 23,200 609 5,286 — 6,131 609 11,417 12,026 (6,327 ) 1995 (A&C) Chincoteague Island KOA (2) Chincoteague, VA — — 5,750 13,836 — — 5,750 13,836 19,586 (273 ) 2019 (A) Chula Vista RV Resort (2) (4) Chula Vista, CA — — — — — 1,125 — 1,125 1,125 (25 ) 2019 (A&C) Cider Mill Crossings Fenton, MI C — 520 1,568 — 39,810 520 41,378 41,898 (9,046 ) 2011 (A&C) Cider Mill Village Middleville, MI A 4,590 250 3,590 — 2,621 250 6,211 6,461 (2,283 ) 2011 (A) Citrus Hill RV Resort Dade City, FL C — 1,170 2,422 — 1,486 1,170 3,908 5,078 (431 ) 2016 (A) Encumbrance Initial Cost to Company Costs Capitalized Subsequent to Acquisition (Improvements) Gross Amount Carried at December 31, 2019 Property Name Location Group Amount Land Depreciable Assets Land Depreciable Assets Land Depreciable Assets Total Accumulated Depreciation Date Acquired (A) or Constructed (C) Clear Water Mobile Village South Bend, IN B 12,249 80 1,270 61 6,335 141 7,605 7,746 (4,378 ) 1986 (A) Club Naples Naples, FL C — 5,780 4,952 — 3,139 5,780 8,091 13,871 (2,694 ) 2011 (A) Club Wildwood Hudson, FL E 22,629 14,206 21,275 — 2,133 14,206 23,408 37,614 (2,690 ) 2016 (A) Coastal Plantation (4) Hampstead, NC C — 3,264 6,469 — 223 3,264 6,692 9,956 (108 ) 2019 (A) Costa Vista (4) San Diego, CA — — — — — 4,777 — 4,777 4,777 — 2019 Cobus Green Mobile Home Park Osceola, IN A 8,864 762 7,037 — 8,002 762 15,039 15,801 (9,274 ) 1993 (A) Colony in the Wood Port Orange, FL — — 5,650 26,828 29 2,065 5,679 28,893 34,572 (1,426 ) 2017 (A&C) Comal Farms New Braunfels, TX C — 1,455 1,732 — 9,458 1,455 11,190 12,645 (5,422 ) 2000 (A&C) Compass RV Resort St. Augustine, FL — — 4,151 10,480 2 406 4,153 10,886 15,039 (593 ) 2018 (A) Country Acres Mobile Village Cadillac, MI A 4,309 380 3,495 — 3,652 380 7,147 7,527 (4,558 ) 1996 (A) Country Hills Village Hudsonville, MI A 5,971 340 3,861 — 543 340 4,404 4,744 (1,208 ) 2011 (A) Country Lakes (4) Little River, SC C — 1,746 5,522 — 2 1,746 5,524 7,270 (92 ) 2019 (A) Country Meadows Mobile Village Flat Rock, MI B 42,427 924 7,583 296 20,185 1,220 27,768 28,988 (17,041 ) 1994 (A&C) Country Meadows Village Caledonia, MI C — 550 5,555 — 7,440 550 12,995 13,545 (2,816 ) 2011 (A&C) Country Squire MH & RV Resort Paisley, FL — — 520 1,719 — 2,113 520 3,832 4,352 (433 ) 2016 (A) Country Village Estates (4) Oregon City, OR — — 22,020 42,615 — 36 22,020 42,651 64,671 (757 ) 2019 (A) Countryside Estates Mckean, PA E 6,648 320 11,610 — 1,898 320 13,508 13,828 (2,524 ) 2014 (A) Countryside Village Great Falls, MT — — 430 7,157 — 987 430 8,144 8,574 (1,556 ) 2014 (A) Countryside Village of Atlanta Lawrenceville, GA C — 1,274 10,957 — 11,931 1,274 22,888 24,162 (6,998 ) 2004 (A&C) Countryside Village of Gwinnett Buford, GA A 9,241 1,124 9,539 — 1,862 1,124 11,401 12,525 (5,247 ) 2004 (A) Countryside Village of Lake Lanier Buford, GA B 27,216 1,916 16,357 — 7,921 1,916 24,278 26,194 (11,963 ) 2004 (A) Craigleith RV Resort & Campground Clarksburg, ON — — 420 705 (10 ) (1 ) 671 410 1,376 1,786 (118 ) 2016 (A) Creeks Crossing (4) (5) Uhland, TX — — 3,484 2 — — 3,484 2 3,486 — 2019 (C) Creekwood Meadows Burton, MI A 3,124 808 2,043 404 14,561 1,212 16,604 17,816 (9,889 ) 1997 (C) Crestwood (4) Concord, NH C — 1,849 22,367 — 39 1,849 22,406 24,255 (373 ) 2019 (A) Crossroads (4) Aiken, SC C — 822 3,675 — 69 822 3,744 4,566 (210 ) 2019 (A&C) Cutler Estates Mobile Village Grand Rapids, MI B 14,175 749 6,941 — 3,741 749 10,682 11,431 (6,871 ) 1996 (A) Cypress Greens Lake Alfred, FL E 7,498 960 17,518 — 2,295 960 19,813 20,773 (3,021 ) 2015 (A) Daytona Beach RV Resort Port Orange, FL C — 2,300 7,158 — 3,930 2,300 11,088 13,388 (1,266 ) 2016 (A) Deep Run (4) Cream Ridge, NJ C — 2,020 13,053 — 3 2,020 13,056 15,076 (218 ) 2019 (A) Deer Lake RV Resort & Campground Huntsville, ON — — 2,830 4,260 (67 ) (1 ) 666 2,763 4,926 7,689 (590 ) 2016 (A) Encumbrance Initial Cost to Company Costs Capitalized Subsequent to Acquisition (Improvements) Gross Amount Carried at December 31, 2019 Property Name Location Group Amount Land Depreciable Assets Land Depreciable Assets Land Depreciable Assets Total Accumulated Depreciation Date Acquired (A) or Constructed (C) Deerfield Run Anderson, IN — — 990 1,607 — 6,918 990 8,525 9,515 (4,422 ) 1999 (A&C) Deerwood Orlando, FL D 38,125 6,920 37,593 — 5,017 6,920 42,610 49,530 (6,856 ) 2015 (A) Desert Harbor Apache Junction, AZ E 11,222 3,940 14,891 — 350 3,940 15,241 19,181 (2,904 ) 2014 (A) Driftwood RV Resort & Campground Clermont, NJ D 17,328 1,450 29,851 — 3,134 1,450 32,985 34,435 (6,962 ) 2014 (A) Dunedin RV Resort Dunedin, FL E 10,051 4,400 16,923 — 2,782 4,400 19,705 24,105 (2,396 ) 2016 (A) Dutton Mill Village Caledonia, MI A 9,096 370 8,997 — 2,035 370 11,032 11,402 (3,302 ) 2011 (A) Eagle Crest Firestone, CO D 32,194 2,015 150 — 30,738 2,015 30,888 32,903 (16,620 ) 1998 (C) East Fork Crossing Batavia, OH C — 1,280 6,302 — 18,904 1,280 25,206 26,486 (11,822 ) 2000 (A&C) East Village Estates Washington Twp, MI A 19,058 1,410 25,413 — 5,245 1,410 30,658 32,068 (8,385 ) 2012 (A) Egelcraft Muskegon, MI D 19,195 690 22,596 — 2,713 690 25,309 25,999 (5,026 ) 2014 (A) Ellenton Gardens RV Resort Ellenton, FL E 4,710 2,130 7,755 — 2,660 2,130 10,415 12,545 (1,268 ) 2016 (A) Emerald Coast MH & RV Resort (2) Panama City Beach, FL D 15,250 10,330 9,070 — 638 10,330 9,708 20,038 (886 ) 2017 (A) Fairfield Village Ocala, FL B 10,714 1,160 18,673 — 749 1,160 19,422 20,582 (3,002 ) 2015 (A) Farmwood Village (4) Dover, NH C — 1,232 12,348 — 7 1,232 12,355 13,587 (206 ) 2019 (A) Fiesta Village MH & RV Resort Mesa, AZ — — 2,830 4,475 — 1,523 2,830 5,998 8,828 (1,128 ) 2014 (A) Fisherman’s Cove Flint Twp, MI A 4,784 380 3,438 — 4,395 380 7,833 8,213 (5,276 ) 1993 (A) Forest Hill (4) Southington, CT C — 5,170 10,775 — 17 5,170 10,792 15,962 (180 ) 2019 (A) Forest Meadows Philomath, OR A 2,508 1,031 2,050 — 754 1,031 2,804 3,835 (1,519 ) 1999 (A) Forest View Homosassa, FL — — 1,330 22,056 — 1,239 1,330 23,295 24,625 (3,597 ) 2015 (A) Fort Tatham RV Resort & Campground Sylva, NC — — 110 760 — 946 110 1,706 1,816 (206 ) 2016 (A) Fort Whaley RV Resort & Campground Whaleyville, MD C — 510 5,194 — 8,817 510 14,011 14,521 (1,479 ) 2015 (A) Four Seasons Elkhart, IN A 3,984 500 4,811 — 3,479 500 8,290 8,790 (4,263 ) 2000 (A) Frenchtown Villa / Elizabeth Woods Newport, MI E 29,333 1,450 52,327 — 28,838 1,450 81,165 82,615 (14,657 ) 2014 (A&C) Friendly Village of La Habra La Habra, CA D 33,205 26,956 25,202 — 1,403 26,956 26,605 53,561 (3,323 ) 2016 (A) Friendly Village of Modesto Modesto, CA D 17,244 6,260 20,885 — 1,630 6,260 22,515 28,775 (2,645 ) 2016 (A) Friendly Village of Simi Simi Valley, CA D 16,928 14,906 15,986 — 975 14,906 16,961 31,867 (2,062 ) 2016 (A) Friendly Village of West Covina West Covina, CA D 13,022 14,520 5,221 — 930 14,520 6,151 20,671 (776 ) 2016 (A) Frontier Town RV Resort & Campground Berlin, MD C — 18,960 43,166 — 28,633 18,960 71,799 90,759 (8,946 ) 2015 (A) Glen Ellis Family Campground (4) Glen, NH D 3,900 448 5,798 — 1,511 448 7,309 7,757 (104 ) 2019 (A) Glen Haven RV Resort Zephyrhills, FL E 5,322 1,980 8,373 — 1,454 1,980 9,827 11,807 (1,248 ) 2016 (A) Encumbrance Initial Cost to Company Costs Capitalized Subsequent to Acquisition (Improvements) Gross Amount Carried at December 31, 2019 Property Name Location Group Amount Land Depreciable Assets Land Depreciable Assets Land Depreciable Assets Total Accumulated Depreciation Date Acquired (A) or Constructed (C) Glen Laurel Concord, NC C — 1,641 453 — 12,562 1,641 13,015 14,656 (7,063 ) 2001 (A&C) Gold Coaster MH & RV Resort Homestead, FL A 13,427 446 4,234 172 6,658 618 10,892 11,510 (5,560 ) 1997 (A) Grand Bay Dunedin, FL B 9,580 3,460 6,314 (3,086 ) (3 ) 1,466 374 7,780 8,154 (4,127 ) 2016 (A) Grand Lakes RV Resort Citra, FL — — 5,280 4,501 (1,820 ) (3 ) 4,923 3,460 9,424 12,884 (1,313 ) 2012 (A) Grand Mobile Estates Grand Rapids, MI C — 374 3,587 4,906 4,043 5,280 7,630 12,910 (2,174 ) 1996 (A) Grand Oaks RV Resort & Campground Cayuga, ON — — 970 4,220 (23 ) (1 ) 2,396 947 6,616 7,563 (618 ) 2016 (A) Grove Beach (4) Westbrook, CT C — 1,221 10,225 — 22 1,221 10,247 11,468 (170 ) 2019 (A) Grove Ridge RV Resort Dade City, FL E 3,331 1,290 5,387 — 1,926 1,290 7,313 8,603 (894 ) 2016 (A) Groves RV Resort Ft. Myers, FL A 6,108 249 2,396 — 4,215 249 6,611 6,860 (3,179 ) 1997 (A) Gulfstream Harbor Orlando, FL — — 14,510 78,930 — 5,464 14,510 84,394 98,904 (13,105 ) 2015 (A) Gulliver’s Lake RV Resort & Campground Millgrove, ON — — 2,950 2,950 (70 ) (1 ) 1,044 2,880 3,994 6,874 (432 ) 2016 (A) Gwynn’s Island RV Resort & Campground Gwynn, VA C — 760 595 — 1,778 760 2,373 3,133 (690 ) 2013 (A) Hacienda Del Rio (4) Edgewater, FL — — 33,309 80,310 — 437 33,309 80,747 114,056 (1,411 ) 2019 (A) Hamlin Webberville, MI B 10,720 125 1,675 536 12,949 661 14,624 15,285 (7,220 ) 1984 (A&C) Hannah Village (4) Lebanon, NH C — 365 4,705 — — 365 4,705 5,070 (78 ) 2019 (A) Hemlocks (4) Tilton, NH C — 1,016 7,151 — 4 1,016 7,155 8,171 (119 ) 2019 (A) Heritage Temecula, CA D 13,208 13,200 7,877 — 1,090 13,200 8,967 22,167 (1,115 ) 2016 (A) Hickory Hills Village Battle Creek, MI — — 760 7,697 — 2,441 760 10,138 10,898 (3,357 ) 2011 (A) Hid'n Pines RV Resort (4) Old Orchard Beach, ME 0 — 1,956 10,020 — 215 1,956 10,235 12,191 (197 ) 2019 (A) Hidden Ridge RV Resort Hopkins, MI C — 440 893 — 3,788 440 4,681 5,121 (1,209 ) 2011 (A) Hidden River RV Resort Riverview, FL C — 3,950 6,376 — 2,988 3,950 9,364 13,314 (1,038 ) 2016 (A) Hidden Valley RV Resort & Campground Normandale, ON — — 2,610 4,170 (62 ) (1 ) 1,763 2,548 5,933 8,481 (655 ) 2016 (A) High Point Park Frederica, DE 0 — 898 7,031 (42 ) (3 ) 7,715 856 14,746 15,602 (7,216 ) 1997 (A) Hill Country Cottage and RV Resort New Braunfels, TX C — 3,790 27,200 — 3,239 3,790 30,439 34,229 (4,246 ) 2016 (A&C) Hillcrest (4) Uncasville, CT C — 10,670 9,607 — 4 10,670 9,611 20,281 (160 ) 2019 (A) Holiday West Village Holland, MI B 14,109 340 8,067 — 556 340 8,623 8,963 (2,477 ) 2011 (A) Holly Forest Estates Holly Hill, FL D 24,733 920 8,376 — 1,194 920 9,570 10,490 (6,623 ) 1997 (A) Holly Village / Hawaiian Gardens Holly, MI B 19,865 1,514 13,596 — 7,455 1,514 21,051 22,565 (9,310 ) 2004 (A) Homosassa River RV Resort Homosassa Springs, FL C — 1,520 5,020 — 2,693 1,520 7,713 9,233 (882 ) 2016 (A) Encumbrance Initial Cost to Company Costs Capitalized Subsequent to Acquisition (Improvements) Gross Amount Carried at December 31, 2019 Property Name Location Group Amount Land Depreciable Assets Land Depreciable Assets Land Depreciable Assets Total Accumulated Depreciation Date Acquired (A) or Constructed (C) Horseshoe Cove RV Resort Bradenton, FL E 19,880 9,466 32,612 — 3,387 9,466 35,999 45,465 (4,464 ) 2016 (A) Hunters Crossing Capac, MI C — 430 1,092 — 1,461 430 2,553 2,983 (612 ) 2012 (A) Hunters Glen Wayland, MI C — 1,102 11,926 — 16,790 1,102 28,716 29,818 (10,020 ) 2004 (C) Hyde Park (4) Easton, MD C — 6,585 18,256 — 5 6,585 18,261 24,846 (304 ) 2019 (A) Indian Creek Park Ft. Myers Beach, FL D 62,296 3,832 34,660 — 12,720 3,832 47,380 51,212 (31,761 ) 1996 (A) Indian Creek RV & Camping Resort Geneva on the Lake, OH C — 420 20,791 (5 ) (5 ) 8,738 415 29,529 29,944 (6,246 ) 2013 (A&C) Indian Wells RV Resort Indio, CA D 11,534 2,880 19,470 — 4,599 2,880 24,069 26,949 (2,817 ) 2016 (A) Island Lakes Merritt Island, FL D 11,569 700 6,431 — 1,020 700 7,451 8,151 (5,495 ) 1995 (A) Jellystone Park™ at Birchwood Acres MH & RV Resort Greenfield Park, NY A 3,821 560 5,527 — 9,540 560 15,067 15,627 (3,513 ) 2013 (A) Jellystone Park™ at Gardiner Gardiner, NY — — 873 28,406 — 3,807 873 32,213 33,086 (2,090 ) 2018 (A) Jellystone Park™ at Golden Valley Bostic, NC — — 4,829 4,260 (9 ) (3 ) 24,740 4,820 29,000 33,820 (1,107 ) 2018 (A&C) Jellystone Park™ at Guadalupe River Kerrville, TX — — 2,519 23,939 (2 ) (3 ) 2,718 2,517 26,657 29,174 (1,761 ) 2018 (A) Jellystone Park™ at Hill Country Canyon Lake, TX — — 1,991 20,709 — 821 1,991 21,530 23,521 (1,287 ) 2018 (A) Jellystone Park™ at Larkspur Larkspur, CO — — 1,880 5,521 — 35,067 1,880 40,588 42,468 (134 ) 2016 (A) Jellystone Park™ at Luray East Luray, VA — — 3,164 29,588 (1 ) (3 ) 1,058 3,163 30,646 33,809 (1,938 ) 2018 (A) Jellystone Park™ at Maryland Williamsport, MD — — 2,096 23,737 — 1,486 2,096 25,223 27,319 (1,655 ) 2018 (A) Jellystone Park™ at Memphis Horn Lake, TN A 2,830 889 6,846 3 132 892 6,978 7,870 (447 ) 2018 (A) Jellystone Park™ at Quarryville Quarryville, PA — — 3,882 33,781 — 1,297 3,882 35,078 38,960 (2,197 ) 2018 (A) Jellystone Park™ at Tower Park Lodi, CA — — 2,560 29,819 (1 ) (3 ) 6,917 2,559 36,736 39,295 (2,139 ) 2018 (A) Jellystone Park™ of Western New York North Java, NY A 6,537 870 8,884 — 6,912 870 15,796 16,666 (4,306 ) 2013 (A) Kensington Meadows Lansing, MI B 17,725 250 2,699 — 8,932 250 11,631 11,881 (7,199 ) 1995 (A&C) Kimberly Estates Newport, MI C — 1,250 6,160 — 11,017 1,250 17,177 18,427 (2,788 ) 2016 (A) King’s Court Mobile Village Traverse City, MI — — 1,473 13,782 269 17,941 1,742 31,723 33,465 (13,441 ) 1996 (A&C) King’s Lake DeBary, FL D 8,899 280 2,542 — 2,943 280 5,485 5,765 (3,641 ) 1994 (A) Kings Manor Lakeland, FL — — 2,270 5,578 — 4,985 2,270 10,563 12,833 (1,283 ) 2016 (A) King’s Pointe Lake Alfred, FL B 7,847 510 16,763 — 517 510 17,280 17,790 (2,664 ) 2015 (A) Kissimmee Gardens Kissimmee, FL — — 3,270 14,402 — 1,479 3,270 15,881 19,151 (1,918 ) 2016 (A) Kissimmee South MH & RV Resort Davenport, FL — — 3,740 6,819 — 4,329 3,740 11,148 14,888 (1,195 ) 2016 (A) Knollwood Estates Allendale, MI A 2,418 400 4,061 — 3,472 400 7,533 7,933 (4,115 ) 2001 (A) Encumbrance Initial Cost to Company Costs Capitalized Subsequent to Acquisition (Improvements) Gross Amount Carried at December 31, 2019 Property Name Location Group Amount Land Depreciable Assets Land Depreciable Assets Land Depreciable Assets Total Accumulated Depreciation Date Acquired (A) or Constructed (C) La Casa Blanca Apache Junction, AZ B 7,758 4,370 14,142 — 616 4,370 14,758 19,128 (2,821 ) 2014 (A) La Costa Village Port Orange, FL D 51,088 3,640 62,315 — 2,025 3,640 64,340 67,980 (9,854 ) 2015 (A) La Hacienda RV Resort Austin, TX C — 3,670 22,225 — 965 3,670 23,190 26,860 (4,396 ) 2015 (A) Lafayette Place Warren, MI A 2,069 669 5,979 — 7,864 669 13,843 14,512 (8,178 ) 1998 (A) Lafontaine RV Resort & Campground Tiny, ON — — 1,290 2,075 (31 ) (1 ) 2,561 1,259 4,636 5,895 (386 ) 2016 (A) Lake Avenue RV Resort & Campground Cherry Valley, ON — — 670 1,290 (16 ) (1 ) 725 654 2,015 2,669 (242 ) 2016 (A) Lake in Wood RV Resort Narvon, PA A 10,066 7,360 7,097 — 2,834 7,360 9,931 17,291 (2,703 ) 2012 (A) Lake Josephine RV Resort Sebring, FL C — 490 2,830 — 1,025 490 3,855 4,345 (310 ) 2016 (A) Lake Juliana Landings Auburndale, FL A 7,935 335 3,048 — 1,880 335 4,928 5,263 (3,327 ) 1994 (A) Lake Pointe Village Mulberry, FL D 18,211 480 29,795 — 516 480 30,311 30,791 (4,642 ) 2015 (A) Lake Rudolph Campground & RV Resort Santa Claus, IN A 16,788 2,340 28,113 — 9,197 2,340 37,310 39,650 (9,933 ) 2014 (A&C) Lake San Marino RV Park Naples, FL A 9,371 650 5,760 — 5,134 650 10,894 11,544 (6,033 ) 1996 (A) Lakefront Lakeside, CA D 26,751 21,556 17,440 — 1,078 21,556 18,518 40,074 (2,273 ) 2016 (A) Lakeland RV Resort Lakeland, FL C — 1,730 5,524 — 2,889 1,730 8,413 10,143 (924 ) 2016 (A) Lakeshore Landings Orlando, FL D 13,395 2,570 19,481 — 1,395 2,570 20,876 23,446 (3,987 ) 2014 (A) Lakeshore Villas Tampa, FL — — 3,080 18,983 — 1,085 3,080 20,068 23,148 (3,065 ) 2015 (A) Lakeside (4) Terryville, CT C — 1,278 3,445 — 13 1,278 3,458 4,736 (57 ) 2019 (A) Lakeside Crossing Conway, SC D 13,056 3,520 31,615 — 13,044 3,520 44,659 48,179 (5,531 ) 2015 (A&C) Lakeview Ypsilanti, MI — — 1,156 10,903 (1 ) (3 ) 7,594 1,155 18,497 19,652 (8,868 ) 2004 (A) Lakeview CT (4) Danbury, CT C — 2,545 8,884 — 34 2,545 8,918 11,463 (148 ) 2019 (A) Lamplighter Port Orange, FL B 7,276 1,330 12,846 — 961 1,330 13,807 15,137 (2,098 ) 2015 (A) Laurel Heights (4) Uncasville, CT C — 1,678 693 — — 1,678 693 2,371 (12 ) 2019 (A) Lazy J Ranch Arcata, CA — — 7,100 6,838 — 134 7,100 6,972 14,072 (628 ) 2017 (A) Leaf Verde RV Resort Buckeye, AZ — — 3,417 8,437 12 534 3,429 8,971 12,400 (475 ) 2018 (A) Leisure Point Resort (4) Millsboro, DE — — 3,628 41,291 — 17 3,628 41,308 44,936 (713 ) 2019 (A) Leisure Village Belmont, MI — — 360 8,219 113 2,138 473 10,357 10,830 (2,593 ) 2011 (A) Lemon Wood Ventura, CA D 19,434 19,540 6,918 — 1,162 19,540 8,080 27,620 (990 ) 2016 (A) Liberty Farm Valparaiso, IN C — 66 1,201 116 4,168 182 5,369 5,551 (2,936 ) 1985 (A&C) Lincoln Estates Holland, MI — — 455 4,201 — 2,148 455 6,349 6,804 (3,910 ) 1996 (A) Long Beach RV Resort & Campground Barnegat, NJ — — 710 3,414 — 1,268 710 4,682 5,392 (548 ) 2016 (A) Encumbrance Initial Cost to Company Costs Capitalized Subsequent to Acquisition (Improvements) Gross Amount Carried at December 31, 2019 Property Name Location Group Amount Land Depreciable Assets Land Depreciable Assets Land Depreciable Assets Total Accumulated Depreciation Date Acquired (A) or Constructed (C) Majestic Oaks RV Resort Zephyrhills, FL E 4,465 3,940 4,725 28 1,972 3,968 6,697 10,665 (867 ) 2016 (A) Maple Brook Matteson, IL D 41,935 8,460 48,865 — 642 8,460 49,507 57,967 (9,375 ) 2014 (A) Maplewood Manor Brunswick, ME E 7,884 1,770 12,982 — 1,798 1,770 14,780 16,550 (2,747 ) 2014 (A) Marco Naples RV Resort Naples, FL — — 2,790 10,458 — 3,543 2,790 14,001 16,791 (1,601 ) 2016 (A) Marina Cove Uncasville, CT C — 262 365 — — 262 365 627 (6 ) 2019 (A) Massey's Landing RV Resort (4) Millsboro, DE — — 2,755 17,948 — 16,507 2,755 34,455 37,210 (321 ) 2019 (A) Meadow Lake Estates White Lake, MI — — 1,188 11,498 127 7,899 1,315 19,397 20,712 (14,011 ) 1994 (A) Meadowbrook Charlotte, NC C — 1,310 6,570 — 14,017 1,310 20,587 21,897 (10,131 ) 2000 (A&C) Meadowbrook Estates Monroe, MI A 13,050 431 3,320 379 15,646 810 18,966 19,776 (11,101 ) 1986 (A) Meadowbrook Village Tampa, FL B 11,738 519 4,728 — 1,209 519 5,937 6,456 (4,499 ) 1994 (A) Meadowlands of Gibraltar Gibraltar, MI A 5,087 640 7,673 — 4,739 640 12,412 13,052 (2,353 ) 2015 (A) Merrymeeting Brunswick, ME C — 250 1,020 — 1,147 250 2,167 2,417 (432 ) 2014 (A) Mi-Te-Jo Campground Milton, NH — — 1,416 7,580 — 1,594 1,416 9,174 10,590 (599 ) 2018 (A) Mill Creek MH & RV Resort Kissimmee, FL — — 1,400 4,839 — 3,815 1,400 8,654 10,054 (975 ) 2016 (A) Millwood (4) Uncasville, CT C — 2,425 8 — — 2,425 8 2,433 — 2019 (A&C) Moab Valley RV Resort & Campground Moab, UT — — 3,693 8,732 1 526 3,694 9,258 12,952 (542 ) 2018 (A) Mountain View Mesa, AZ B 10,709 5,490 12,325 — 451 5,490 12,776 18,266 (2,456 ) 2014 (A) Napa Valley Napa, CA D 19,067 17,740 11,675 — 1,024 17,740 12,699 30,439 (1,566 ) 2016 (A) Naples RV Resort Naples, FL C — 3,640 2,020 — 2,223 3,640 4,243 7,883 (1,257 ) 2011 (A) New England Village (4) Westbrook, CT C — 4,188 1,444 — 42 4,188 1,486 5,674 (24 ) 2019 (A) New Point RV Resort New Point, VA C — 1,550 5,259 — 4,315 1,550 9,574 11,124 (2,602 ) 2013 (A) New Ranch Clearwater, FL — — 2,270 2,723 — 1,486 2,270 4,209 6,479 (431 ) 2016 (A) North Lake Estates Moore Haven, FL C — 4,150 3,486 — 2,014 4,150 5,500 9,650 (1,880 ) 2011 (A) North Point Estates Pueblo, CO — — 1,582 3,027 1 4,065 1,583 7,092 8,675 (3,778 ) 2001 (C) Northville Crossing Northville, MI B 17,546 1,236 29,564 — 7,235 1,236 36,799 38,035 (11,335 ) 2012 (A) Oak Creek Coarsegold, CA B 8,953 4,760 11,185 — 1,643 4,760 12,828 17,588 (2,441 ) 2014 (A) Oak Crest Austin, TX B 21,917 4,311 12,611 4,365 15,949 8,676 28,560 37,236 (9,158 ) 2002 (C) Oak Grove (4) Plainville, CT C — 1,004 1,660 — 1 1,004 1,661 2,665 (28 ) 2019 (A) Oak Island Village East Lansing, MI — — 320 6,843 — 3,112 320 9,955 10,275 (3,061 ) 2011 (A) Oak Ridge Manteno, IL D 30,121 1,090 36,941 — 3,762 1,090 40,703 41,793 (7,846 ) 2014 (A) Oakview Estates Arcadia, FL — — 850 3,881 — 1,470 850 5,351 6,201 (613 ) 2016 (A) Oakwood Village Miamisburg, OH B 31,451 1,964 6,401 (1 ) (3 ) 13,880 1,963 20,281 22,244 (12,178 ) 1998 (A&C) Encumbrance Initial Cost to Company Costs Capitalized Subsequent to Acquisition (Improvements) Gross Amount Carried at December 31, 2019 Property Name Location Group Amount Land Depreciable Assets Land Depreciable Assets Land Depreciable Assets Total Accumulated Depreciation Date Acquired (A) or Constructed (C) Ocean Breeze Jensen Beach MH & RV Resort Jensen Beach, FL — — 19,026 13,862 — 27,223 19,026 41,085 60,111 (3,574 ) 2016 (A&C) Ocean Breeze MH & RV Resort (6) Marathon, FL C — 2,330 1,770 — 4,406 2,330 6,176 8,506 (78 ) 2016 (A) Ocean Pine (4) Garden City, SC C — 7,623 35,333 — 1 7,623 35,334 42,957 (735 ) 2019 (A) Ocean West McKinleyville, CA B 4,592 5,040 4,413 349 509 5,389 4,922 10,311 (407 ) 2017 (A) Oceanside RV Resort & Campground Coos Bay, OR — — 2,718 3,244 1 986 2,719 4,230 6,949 (243 ) 2018 (A) Orange City MH & RV Resort Orange City, FL C — 920 5,540 — 3,913 920 9,453 10,373 (2,356 ) 2011 (A) Orange Tree Village Orange City, FL D 10,373 283 2,530 15 1,300 298 3,830 4,128 (2,764 ) 1994 (A) Orchard Lake Milford, OH C — 395 4,025 (15 ) (3 ) 2,544 380 6,569 6,949 (3,307 ) 1999 (A) Paddock Park South Ocala, FL — — 630 6,601 — 1,544 630 8,145 8,775 (936 ) 2016 (A) Palm Creek Golf & RV Resort Casa Grande, AZ D 96,555 11,836 76,143 — 24,577 11,836 100,720 112,556 (27,933 ) 2012 (A&C) Palm Key Village Davenport, FL D 15,900 3,840 15,661 — 811 3,840 16,472 20,312 (2,602 ) 2015 (A) Palm Village Bradenton, FL — — 2,970 2,849 — 1,716 2,970 4,565 7,535 (485 ) 2016 (A) Palos Verdes Shores MH & Golf Community (2) San Pedro, CA D 25,446 — 21,815 — 2,221 — 24,036 24,036 (2,818 ) 2016 (A) Pandion Ridge RV Resort (4) Orange Beach, AL — — 12,719 7,515 — — 12,719 7,515 20,234 (146 ) 2019 (A) Park Place Sebastian, FL D 17,650 1,360 48,678 67 3,037 1,427 51,715 53,142 (7,747 ) 2015 (A) Park Royale Pinellas Park, FL D 15,722 670 29,046 — 384 670 29,430 30,100 (4,532 ) 2015 (A) Parkside Village Cheektowaga, NY — — 550 10,402 — 307 550 10,709 11,259 (2,021 ) 2014 (A) Pebble Creek Greenwood, IN C — 1,030 5,074 — 11,486 1,030 16,560 17,590 (7,161 ) 2000 (A&C) Pecan Branch Georgetown, TX C — 1,379 — 235 — 1,614 18,016 19,630 (2,970 ) 1999 (C) Pecan Park RV Resort Jacksonville, FL — — 2,000 5,000 1,420 5,872 3,420 10,872 14,292 (813 ) 2016 (A) Pelican Bay Micco, FL D 6,580 470 10,543 — 1,753 470 12,296 12,766 (1,896 ) 2015 (A) Pelican RV Resort & Marina Marathon, FL C — 4,760 4,742 — 1,658 4,760 6,400 11,160 (877 ) 2016 (A) Pembroke Downs Chino, CA D 10,905 9,560 7,269 — 791 9,560 8,060 17,620 (927 ) 2016 (A) Peter’s Pond RV Resort Sandwich, MA C — 4,700 22,840 — 4,056 4,700 26,896 31,596 (7,513 ) 2013 (A) Petoskey KOA RV Resort Petoskey, MI — — 214 8,676 652 929 866 9,605 10,471 (507 ) 2018 (A) Petoskey RV Resort Petoskey, MI — — 230 3,270 — 4,439 230 7,709 7,939 (846 ) 2016 (A) Pheasant Ridge Lancaster, PA A 20,833 2,044 19,279 — 1,083 2,044 20,362 22,406 (11,475 ) 2002 (A) Pickerel Park RV Resort & Campground Napanee, ON — — 900 2,125 (21 ) (1 ) 2,010 879 4,135 5,014 (406 ) 2016 (A) Pin Oak Parc O’Fallon, MO — — 1,038 3,250 467 16,211 1,505 19,461 20,966 (9,676 ) 1994 (A&C) Pine Hills Middlebury, IN A 2,616 72 544 60 3,473 132 4,017 4,149 (2,415 ) 1980 (A) Encumbrance Initial Cost to Company Costs Capitalized Subsequent to Acquisition (Improvements) Gross Amount Carried at December 31, 2019 Property Name Location Group Amount Land Depreciable Assets Land Depreciable Assets Land Depreciable Assets Total Accumulated Depreciation Date Acquired (A) or Constructed (C) Pine Ridge Prince George, VA B 11,802 405 2,397 1 22,207 406 24,604 25,010 (5,299 ) 1986 (A&C) Pine Trace Houston, TX — — 2,907 17,169 (212 ) (3 ) 15,896 2,695 33,065 35,760 (14,406 ) 2004 (A&C) Pinebrook Village Kentwood, MI — — 130 5,692 — 1,443 130 7,135 7,265 (2,358 ) 2011 (A) Pismo Dunes RV Resort Pismo Beach, CA D 19,725 11,070 10,190 — 1,101 11,070 11,291 22,361 (964 ) 2017 (A) Plantation Landings Haines City, FL D 12,314 3,070 30,973 — 2,419 3,070 33,392 36,462 (5,048 ) 2015 (A) Pleasant Lake RV Resort Bradenton, FL E 12,625 5,220 20,403 — 3,592 5,220 23,995 29,215 (2,898 ) 2016 (A) Pony Express RV Resort & Campground North Salt Lake, UT — — 3,429 4,643 1 66 3,430 4,709 8,139 (347 ) 2018 (A) Presidential Estates Mobile Village Hudsonville, MI B 23,007 680 6,314 — 5,755 680 12,069 12,749 (7,522 ) 1996 (A) Rainbow MH & RV Resort Frostproof, FL A 4,508 1,890 5,682 — 4,461 1,890 10,143 12,033 (2,905 ) 2012 (A) Rainbow Village of Largo Largo, FL E 9,070 4,420 12,529 — 3,431 4,420 15,960 20,380 (2,005 ) 2016 (A) Rainbow Village of Zephyrhills Zephyrhills, FL D 9,200 1,800 9,884 — 2,179 1,800 12,063 13,863 (1,464 ) 2016 (A) Rancho Alipaz (2) San Juan Capistrano, CA D 12,915 — 2,856 16,168 891 16,168 3,747 19,915 (443 ) 2016 (A) Rancho Caballero Riverside, CA D 15,626 16,560 12,446 — 1,213 16,560 13,659 30,219 (1,588 ) 2016 (A) Rancho Mirage Apache Junction, AZ B 12,291 7,510 22,238 — 947 7,510 23,185 30,695 (4,340 ) 2014 (A) Red Oaks MH & RV Resort (2) Bushnell, FL — — 5,180 20,499 — 5,555 5,180 26,054 31,234 (3,140 ) 2016 (A) Regency Heights Clearwater, FL D 27,525 11,330 15,734 — 2,402 11,330 18,136 29,466 (2,035 ) 2016 (A) Reserve at Fox Creek Bullhead City, AZ D 15,848 1,950 20,074 — 1,386 1,950 21,460 23,410 (4,033 ) 2014 (A) Reunion Lake RV Resort (4) Ponchatoula, LA — — 7,726 16,146 — 136 7,726 16,282 24,008 (302 ) 2019 (A) Richmond Place Richmond, MI A 1,510 501 2,040 (31 ) (3 ) 3,482 470 5,522 5,992 (2,743 ) 1998 (A) Riptide RV Resort & Marina Key Largo, FL — — 2,440 991 — 1,748 2,440 2,739 5,179 (327 ) 2016 (A) River Haven Village Grand Haven, MI — — 1,800 16,967 — 15,766 1,800 32,733 34,533 (14,666 ) 2001 (A) River Pines (4) Nashua, NH C — 2,739 37,802 — 6 2,739 37,808 40,547 (630 ) 2019 (A) River Plantation RV Resort (4) Sevierville, TN — — 3,730 19,736 — 225 3,730 19,961 23,691 (366 ) 2019 (A) River Ranch Austin, TX C — 4,690 843 182 41,585 4,872 42,428 47,300 (12,285 ) 2000 (A&C) River Ridge Estates Austin, TX A 8,745 3,201 15,090 — 8,023 3,201 23,113 26,314 (12,035 ) 2002 (C) River Run Granby, CO — — 8,642 — 130 — 8,772 82,667 91,439 (798 ) 2018 (C) Riverside Club Ruskin, FL D 39,768 1,600 66,207 — 7,688 1,600 73,895 75,495 (10,799 ) 2015 (A) Rock Crusher Canyon RV Resort Crystal River, FL C — 420 5,542 168 4,046 588 9,588 10,176 (1,394 ) 2015 (A) Rolling Hills (4) Storrs, CT C — 3,960 3,755 — 8 3,960 3,763 7,723 (63 ) 2019 (A) Roxbury Park Goshen, IN — — 1,057 9,870 1 4,643 1,058 14,513 15,571 (7,647 ) 2001 (A) Encumbrance Initial Cost to Company Costs Capitalized Subsequent to Acquisition (Improvements) Gross Amount Carried at December 31, 2019 Property Name Loca |
Significant Accounting Polici_2
Significant Accounting Policies Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2019 | |
Accounting Policies [Abstract] | |
Consolidation, Policy [Policy Text Block] | Principles of Consolidation |
Use of Estimates, Policy [Policy Text Block] | Use of Estimates The preparation of financial statements in conformity with U.S. generally accepted accounting principles (“GAAP”) requires management to make estimates and assumptions related to the reported amounts included in our Consolidated Financial Statements and accompanying footnotes thereto. Actual results could differ from those estimates. |
Investment property, Policy [Policy Text Block] | Investment Property Investment property is recorded at cost, less accumulated depreciation. We review the carrying value of long-lived assets to be held and used for impairment quarterly or whenever events or changes in circumstances indicate a possible impairment. Our primary indicator for potential impairment is based on NOI trends period over period. Circumstances that may prompt a test of recoverability may include a significant decrease in the anticipated market price, an adverse change to the extent or manner in which an asset may be used or in its physical condition or other such events that may significantly change the value of the long-lived asset. An impairment loss is recognized when a long-lived asset’s carrying value is not recoverable and exceeds estimated fair value. We estimate the fair value of our long-lived assets based on discounted future cash flows and any potential disposition proceeds for a given asset. Forecasting cash flows requires management to make estimates and assumptions about such variables as the estimated holding period, rental rates, occupancy, development, and operating expenses during the holding period, as well as disposition proceeds. Management uses its best judgment when developing these estimates and assumptions, but the development of the projected future cash flows is based on subjective variables. Future events could occur which would cause us to conclude that impairment indicators exist, and significant adverse changes in national, regional, or local market conditions or trends may cause us to change the estimates and assumptions used in our impairment analysis. The results of an impairment analysis could be material to our financial statements. We periodically receive offers from interested parties to purchase certain of our properties. These offers may be the result of an active program initiated by us to sell the property, or from an unsolicited offer to purchase the property. The typical sale process involves a significant negotiation and due diligence period between us and the potential purchaser. As the intent of this process is to determine if there are items that would cause the purchaser to be unwilling to purchase or we would be unwilling to sell, it is not unusual for such potential offers of sale/purchase to be withdrawn as such issues arise. We classify assets as “held for sale” when it is probable, in our opinion, that a sale transaction will be completed within one year. This typically occurs when all significant contingencies surrounding the closing have been resolved, which often corresponds with the closing date. |
Other Capitalized Costs, Policy [Policy Text Block] | Capitalized Costs We capitalize certain costs incurred in connection with the development, redevelopment, capital enhancement and leasing of our properties. Management is required to use professional judgment in determining whether such costs meet the criteria for immediate expense or capitalization. The amounts are dependent on the volume and timing of such activities and the costs associated with such activities. Maintenance, repairs and minor improvements to properties are expensed when incurred. Renovations and improvements to properties are capitalized and depreciated over their estimated useful lives and real estate project costs related to the development of new community or expansion sites are capitalized until the property is substantially complete and available for occupancy. Costs incurred to initially renovate pre-owned and repossessed homes that we acquire for our Rental Program are capitalized and the majority of costs incurred to refurbish the homes at turnover and repair the homes while occupied are expensed, unless they extend the life of the home. Certain expenditures to dealers and residents related to obtaining lessees in our communities are capitalized and amortized based on the anticipated term of occupancy of a resident. Costs associated with implementing our computer systems are capitalized and amortized over the estimated useful lives of the related software and hardware. Costs incurred to obtain new debt financing are capitalized and amortized over the terms of the related loan agreement using the straight-line method (which approximates the effective interest method). |
Cash and Cash Equivalents, Policy [Policy Text Block] | Cash and Cash Equivalents We consider all highly liquid investments with a maturity of three months or less from the date of purchase to be cash and cash equivalents. At December 31, 2019 and 2018 , $22.1 million and $50.3 million of Cash and Cash Equivalents, respectively, was included as a component of Cash, cash equivalents and restricted cash on the Consolidated Balance Sheets. The maximum amount of credit risk arising from cash deposits in excess of federally insured amounts was approximately $22.9 million and $49.5 million as of December 31, 2019 and 2018 , respectively. |
Restrictions on Cash and Cash Equivalents [Table Text Block] | Restricted Cash Restricted cash consists of amounts primarily held in deposit for tax, insurance and repair escrows held by lenders in accordance with certain debt agreements. At December 31, 2019 and 2018 , $12.7 million and $12.0 million of restricted cash, respectively, was included as a component of Cash, cash equivalents and restricted cash on the Consolidated Balance Sheets On January 1, 2018, we adopted ASU 2016-18 “Statement of Cash Flows (Topic 230): Restricted Cash.” This update required inclusion of restricted cash and restricted cash equivalents with cash and cash equivalents when reconciling the beginning-of-period and end-of-period total amounts shown on the statement of cash flows. Upon adoption of this standard, changes in restricted cash are reported in our Consolidated Statements of Cash Flows as operating, investing or financing activities based on the nature of the underlying activity. |
Marketable Securities, Policy [Policy Text Block] | Marketable Securities |
Inventory, Policy [Text Block] | Inventory Inventory of manufactured homes is stated at lower of specific cost or market based on the specific identification method. |
Investments in Affiliates, Policy [Policy Text Block] | Investments in Nonconsolidated Affiliates We apply the equity method of accounting to entities in which we do not have a direct or indirect controlling interest or for variable interest entities where we are not considered the primary beneficiary but can exercise influence over the entity with respect to its operations and major decisions. The cost method is applied when (i) the investment is minimal (typically less than 5.0% ) and (ii) our investment is passive. Our exposure to losses associated with unconsolidated joint ventures is primarily limited to the carrying value of these investments. Accordingly, distributions from a joint venture in excess of our carrying value are recognized in earnings. We review the carrying value of our investments in nonconsolidated affiliates for other than temporary impairment whenever events or changes in circumstances indicate a possible impairment. Financial condition, operational performance, and other economic trends are among the factors we consider when we evaluate the existence of impairment indicators. Refer to Note 7 , “ Investments in Nonconsolidated Affiliates ,” for additional information. |
Notes and Other Receivables, Policy [Policy Text Block] | Notes and Other Receivables Notes receivable includes both installment loans for manufactured homes purchased by the Company as well as transferred loans that have not met the requirements for sale accounting which are presented herein as collateralized receivables. The notes are collateralized by the underlying manufactured home sold. For purposes of accounting policy, all notes receivable are considered one homogeneous segment, as the notes are typically underwritten using the same requirements and terms. Notes receivable are reported at their outstanding unpaid principal balance adjusted for an allowance for loan loss. Interest income is accrued based upon the unpaid principal balance of the loans. Past due status of our notes receivable is determined based upon the contractual terms of the note. When a note receivable becomes 60 days delinquent, we stop accruing interest on the note receivable. The interest on nonaccrual loans is accounted for on the cash basis until qualifying for return to accrual. Loans are returned to accrual when all principal and interest amounts contractually due are brought current and future payments are reasonably assured. The ability to collect our notes receivable is measured based on current and historical information and events. We consider numerous factors including: length of delinquency, estimated costs to lease or sell, and repossession history. Our experience supports a high recovery rate for notes receivable; however, there is some degree of uncertainty about the recoverability of our investment in these notes receivable. We are generally able to recover our recorded investment in uncollectible notes receivable by repossessing the homes on the notes retained by us and repurchasing the homes on the collateralized receivables, and subsequently selling or leasing these homes to potential residents in our communities. We have established a loan loss reserve based on our estimated unrecoverable costs associated with repossessed/repurchased homes. We estimate our unrecoverable costs to be the repurchase price of the home collateralizing the note receivable plus repair and remarketing costs in excess of the estimated selling price of the home being repossessed. A historical average of this excess cost is calculated based on prior repossessions/repurchases and is applied to our estimated annual future repossessions to create the allowance for both installment and collateralized notes receivable. We evaluate the collectability of a loan based on our ability to collect the scheduled payments of principal and interest when due according to the contractual terms of the loan agreement. We generally see that if the obligor is delinquent on the loan they are also delinquent on site rent. If the scheduled payment is delinquent beyond the grace period required by law or by the loan agreement, notice is given to start the collection process. A specific allowance is estimated on the past due loans based on historical delinquency data and current delinquency levels. Credit quality is evaluated at the inception of the receivable. Factors that are considered in order to determine the credit quality of the applicant include, but are not limited to: rental payment history; home debt to income ratio; loan value to the collateralized asset; total debt to income ratio; length of employment; previous landlord references; and FICO scores. Other receivables are generally comprised of amounts due from residents for rent and related charges, home sale proceeds receivable from sales near year end and various other miscellaneous receivables. Accounts receivable from residents are typically due within 30 days and stated at amounts due from residents net of an allowance for doubtful accounts. Accounts outstanding longer than the contractual payment terms are considered past due. We evaluate the recoverability of our receivables whenever events occur or there are changes in circumstances such that management believes it is probable that it will be unable to collect all amounts due according to the contractual terms of the loan and lease agreements. Receivables related to community rents are reserved when we believe that collection is less than probable, which is generally after a resident balance reaches 60 to 90 days past due. |
Identified Intangible Assets, Policy [Policy Text Block] | Intangible Assets The Company amortizes identified intangible assets that are determined to have finite lives over the period the assets are expected to contribute directly or indirectly to the future cash flows of the property or business. The carrying amounts of the identified intangible assets are included in Other assets, net on our Consolidated Balance Sheets. Refer to Note 6 , “ Intangible Assets ,” for additional information. |
Deferred Tax Assets, Policy [Policy Text Block] | Deferred Taxes We are subject to certain state taxes that are considered to be income taxes and have certain subsidiaries that are taxed as regular corporations for U.S. (i.e., federal, state, local, etc.) and non-U.S. income tax purposes. Deferred tax assets or liabilities are recognized for temporary differences between the tax basis of assets and liabilities and their carrying amounts in the financial statements and net operating loss carryforwards in certain subsidiaries, including those domiciled in foreign jurisdictions, which may be realized in future periods if the respective subsidiary generates sufficient taxable income. Deferred tax assets and liabilities are measured using currently enacted tax rates. A valuation allowance is established if, based on the available evidence, it is considered more likely than not that some portion or all of the deferred tax assets will not be realized. Refer to Note 13 , “ Income Taxes ,” for additional information. |
Deferred Financing Costs, Policy [Policy Text Block] | Deferred Financing Costs Deferred financing costs include fees and costs incurred to obtain long-term financing. The costs are amortized over the terms of the respective loans. Unamortized deferred financing costs are written off when debt is retired before the maturity date. Upon amendment of the line of credit or refinancing of mortgage debt, unamortized deferred financing costs and discount and premium costs are accounted for in accordance with FASB Accounting Standards Codification (“ASC”) 470-50-40, “Modifications and Extinguishments.” |
Share-Based Compensation, Policy [Policy Text Block] | Share-Based Compensation Share-based compensation cost for service vesting restricted stock awards is measured based on the closing share price of our common stock on the date of grant. We measure the fair value of awards with performance conditions based on an estimate of shares expected to vest using the closing price of our common stock as of the grant date. If it is not probable that the performance conditions will be satisfied, we do not recognize compensation expense. We estimate the fair value of share-based compensation for restricted stock with market conditions using a Monte Carlo simulation. We recognize compensation cost ratably over each tranche of shares based on the fair value estimated by the model. Share-based compensation cost for stock options is estimated at the grant date based on each option’s fair-value as calculated by the Binomial (lattice) option-pricing model. The Binomial (lattice) option-pricing model incorporates various assumptions including expected volatility, expected life, dividend yield, and interest rates. Refer to Note 11 , “ Share-Based Compensation ” for additional information. |
Fair Value of Financial Instruments, Policy [Policy Text Block] | Fair Value of Financial Instruments Our financial instruments consist of cash, cash equivalents and restricted cash, accounts and notes receivable, marketable securities, accounts payable, debt, and contingent consideration liability. We utilize fair value measurements to record fair value adjustments to certain assets and liabilities and to determine fair value disclosures, pursuant to FASB ASC 820, “Fair Value Measurements and Disclosures.” Refer to Note 16 , “ Fair Value of Financial Instruments ,” for additional information regarding the estimates and assumptions used to estimate the fair value of each financial instrument class. |
Revenue [Policy Text Block] | Revenue Recognition |
Advertising Cost, Policy [Policy Text Block] | Advertising Costs Advertising costs are expensed as incurred. As of December 31, 2019 , 2018 and 2017 , we had advertising costs of $6.7 million , $6.2 million and $5.9 million , respectively. |
Depreciation, Depletion, and Amortization [Policy Text Block] | Depreciation and Amortization Depreciation and amortization are computed on a straight-line basis over the estimated useful lives of the assets. Useful lives are thirty years for land improvements and buildings, ten years for rental homes, seven years for furniture, fixtures and equipment, four years for computer hardware and software, and seven years to twenty years for intangible assets. |
Revenue (Tables)
Revenue (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Revenue from Contract with Customer [Abstract] | |
Disaggregation of Revenue | The following table disaggregates our revenue by major source (in thousands): Year Ended December 31, 2019 December 31, 2018 December 31, 2017 Real Property Operations Home Sales and Rentals Consolidated Real Property Operations Home Sales and Rentals Consolidated Real Property Operations Home Sales and Rentals Consolidated Revenues Income from real property $ 925,664 $ — $ 925,664 $ 825,973 $ — $ 825,973 $ 742,228 $ — $ 742,228 Revenue from home sales — 181,936 181,936 — 166,031 166,031 — 127,408 127,408 Rental home revenue — 57,572 57,572 — 53,657 53,657 — 50,549 50,549 Ancillary revenue 66,881 — 66,881 54,107 — 54,107 37,511 — 37,511 Interest income 17,857 — 17,857 20,852 — 20,852 21,180 (1 ) 21,179 Brokerage commissions and other revenues, net 14,127 — 14,127 6,205 — 6,205 3,695 — 3,695 Total Revenues $ 1,024,529 $ 239,508 $ 1,264,037 $ 907,137 $ 219,688 $ 1,126,825 $ 804,614 $ 177,956 $ 982,570 |
Real Estate Acquisitions and _2
Real Estate Acquisitions and Dispositions (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Business Combinations [Abstract] | |
Schedule of Business Acquisitions, by Acquisition [Table Text Block] | For the year ended December 31, 2019 , we acquired the following communities and portfolios: Community Name Type Sites Development Sites State Month Acquired Slickrock Campground RV 193 — UT December Pandion Ridge RV 142 351 AL November Jensen Portfolio (1) MH 5,230 466 Various October Glen Ellis RV 244 40 NH September Leisure Point Resort (2) MH / RV 502 — DE September Reunion Lake RV 202 69 LA July River Plantation RV 309 — TN May Massey’s Landing RV RV 291 — DE February Shelby Properties (3) MH 1,308 — MI February Buena Vista MH 400 — AZ February Country Village Estates (4) MH 518 — OR January Hid’n Pines RV RV 321 — ME January Hacienda del Rio MH (Age-Restricted) 730 — FL January Total 10,390 926 (1) Contains 31 communities located in CT, GA, MD, NH, NJ, NY, NC and SC. In conjunction with the acquisition, we issued 1,972,876 shares of common stock, net of fractional shares paid in cash. (2) Contains 201 MH sites and 301 RV sites. (3) Contains two MH communities. (4) In conjunction with the acquisition, we issued Series D Preferred OP Units. As of December 31, 2019 , 488,958 Series D Preferred OP Units were outstanding. For the year ended December 31, 2018 we acquired the following communities: Community Name Type Sites Development Sites State Month Acquired Leaf Verde RV Resort RV 376 — AZ October Archview RV 114 50 UT August Petoskey KOA RV 210 — MI August The Sands RV and Golf Resort RV (Age Restricted) 507 — CA July Sun NG RV Resorts LLC (1)(2) RV 2,700 940 Various June Silver Creek RV 264 176 MI June Highway West (1) RV 536 — UT & OR June Compass RV RV 175 — FL May Total 4,882 1,166 (1) Highway West and Sun NG RV Resorts LLC are comprised of 4 RV and 10 RV resorts, respectively. (2) Refer to Note 8, “Consolidated Variable Interest Entities,” Note 9, “Debt and Lines of Credit,” and Note 10, “Equity and Temporary Equity” in our accompanying Consolidated Financial Statements for additional information. For the year ended December 31, 2018, we acquired the following land for expansion / development: Name Location Type Expansion / Development Sites Cost (millions) Month Acquired Ocean West McKinleyville, CA MH 26 $ 0.2 December Water Oak Country Club Estates Lady Lake, FL MH 296 1.9 November Oak Crest Austin, TX MH 220 4.2 October Pecan Park Jacksonville, FL RV 158 1.3 September Smith Creek Crossing Granby, CO MH 310 0.9 September Apple Carr Egelston, MI MH 121 0.2 May River Run Granby, CO MH / RV 1,144 5.3 May Total 2,275 $ 14.0 |
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block] | The following table summarizes the amounts of assets acquired net of liabilities assumed at the acquisition date and the consideration paid for the acquisitions completed for the year ended December 31, 2019 (in thousands): At Acquisition Date Consideration Investment in property Inventory of manufactured homes In-place leases and other intangible assets Other assets (liabilities), net Total identifiable assets acquired net of liabilities assumed Cash and escrow Debt assumed Temporary and permanent equity Total consideration Slickrock Campground $ 8,250 $ — $ — $ 8 $ 8,258 $ 8,258 $ — $ — $ 8,258 Pandion Ridge 19,070 — — (92 ) $ 18,978 18,978 — — 18,978 Jensen Portfolio 374,402 3,605 7,752 3,938 $ 389,697 18,306 58,000 313,391 389,697 Glen Ellis 5,955 — — (79 ) 5,876 1,976 3,900 — 5,876 Leisure Point Resort 43,632 18 850 (678 ) 43,822 43,822 — — 43,822 Reunion Lake 23,493 — — (1,153 ) 22,340 22,340 — — 22,340 River Plantation 22,589 75 — — 22,664 22,664 — — 22,664 Massey's Landing 36,250 — 220 (446 ) 36,024 36,024 — — 36,024 Shelby Properties 85,969 2,011 6,520 (1,015 ) 93,485 93,485 — — 93,485 Buena Vista 20,221 439 1,590 (93 ) 22,157 22,157 — — 22,157 Country Village 62,784 — 2,020 31 64,835 12,905 — 51,930 64,835 Hid'n Pines 10,680 — 70 (233 ) 10,517 10,517 — — 10,517 Hacienda del Rio 111,971 15 3,280 (237 ) 115,029 115,029 — — 115,029 Total $ 825,266 $ 6,163 $ 22,302 $ (49 ) $ 853,682 $ 426,461 $ 61,900 $ 365,321 $ 853,682 |
Business Acquisition, Pro Forma Information [Table Text Block] | The total amount of revenues and net income included in the Consolidated Statements of Operations for the year ended December 31, 2019 related to the acquisitions completed in 2019 are set forth in the following table (in thousands): Year Ended December 31, 2019 (unaudited) Total revenues $ 42,715 Net income $ 10,050 The information presented below has been prepared for comparative purposes only and does not purport to be indicative of either future results of operations or the results of operations that would have actually occurred had the acquisition been consummated on January 1, 2018 (in thousands, except per-share data): Year Ended (unaudited) December 31, 2019 December 31, 2018 Total revenues $ 1,298,096 $ 1,194,093 Net income attributable to Sun Communities, Inc. common stockholders $ 166,446 $ 120,891 Net income per share attributable to Sun Communities, Inc. common stockholders - basic $ 1.88 $ 1.49 Net income per share attributable to Sun Communities, Inc. common stockholders - diluted $ 1.87 $ 1.47 |
Collateralized Receivables an_2
Collateralized Receivables and Transfers of Financial Assets (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Schedule of collateralized loans [Table Text Block] | December 31, 2019 December 31, 2018 Beginning balance $ 107,731 $ 129,182 Principal payments and payoffs from our customers (11,408 ) (12,577 ) Principal reduction from repurchased homes (5,973 ) (8,874 ) Derecognition of collateralized receivables (90,350 ) — Total activity (107,731 ) (21,451 ) Ending balance $ — $ 107,731 |
Collateralized Receivables [Member] | |
Schedule of Credit Losses Related to Financing Receivables, Current and Noncurrent [Table Text Block] (Deprecated 2019-01-31) | The following table sets forth the allowance for the collateralized receivables (in thousands): December 31, 2019 December 31, 2018 Beginning balance $ (807 ) $ (936 ) Lower of cost or market write-downs 140 660 (Increase) / decrease to reserve balance 80 (531 ) Gain on derecognition of collaterized receivables 587 — Total activity 807 129 Ending balance $ — $ (807 ) |
Notes And Other Receivables (Ta
Notes And Other Receivables (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Financing Receivable, Allowance for Credit Loss [Line Items] | |
Schedule of notes and other receivables [Table Text Block] | The following table sets forth certain information regarding notes and other receivables (in thousands): December 31, 2019 December 31, 2018 Installment notes receivable on manufactured homes, net $ 95,580 $ 112,798 Notes receivable from real estate developers 18,960 — Other receivables, net 43,386 47,279 Total notes and other receivables, net $ 157,926 $ 160,077 |
Schedule of Installment Notes Receivable [Table Text Block] | The change in the aggregate gross principal balance of the installment notes receivable is as follows (in thousands): December 31, 2019 December 31, 2018 Beginning balance $ 113,495 $ 116,174 Financed sales of manufactured homes 341 14,237 Principal payments and payoffs from our customers (8,710 ) (8,966 ) Principal reduction from repossessed homes (8,901 ) (7,950 ) Total activity (17,270 ) (2,679 ) Ending balance $ 96,225 $ 113,495 |
Installment Notes Receivable [Member] | |
Financing Receivable, Allowance for Credit Loss [Line Items] | |
Schedule of Credit Losses Related to Financing Receivables, Current and Noncurrent [Table Text Block] (Deprecated 2019-01-31) | The following table sets forth the allowance change for the installment notes receivable (in thousands): December 31, 2019 December 31, 2018 Beginning balance $ (697 ) $ (377 ) Lower of cost or market write-downs 203 678 Increase to reserve balance (151 ) (998 ) Total activity 52 (320 ) Ending balance $ (645 ) $ (697 ) |
Intangible Assets Schedule of I
Intangible Assets Schedule of Intangible Assets (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Intangible Assets Disclosure [Abstract] | |
Schedule of Finite-Lived Intangible Assets [Table Text Block] | The gross carrying amounts and accumulated amortization are as follows (in thousands): December 31, 2019 December 31, 2018 Intangible Asset Useful Life Gross Carrying Amount Accumulated Amortization Gross Carrying Amount Accumulated Amortization In-place leases 7 years $ 127,313 $ (73,980 ) $ 103,547 $ (59,068 ) Franchise agreements and other intangible assets 7 - 20 years 16,943 (2,760 ) 16,641 (1,942 ) Total $ 144,256 $ (76,740 ) $ 120,188 $ (61,010 ) |
Schedule of Intangible Assets Amortization Expense [Table Text Block] | Total amortization expenses related to our intangible assets are as follows (in thousands): Year Ended Intangible Asset December 31, 2019 December 31, 2018 December 31, 2017 In-place leases $ 14,912 $ 12,913 $ 13,812 Franchise fees and other intangible assets 818 507 301 Total $ 15,730 $ 13,420 $ 14,113 |
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block] | We anticipate amortization expense for our intangible assets to be as follows for the next five years (in thousands): 2020 2021 2022 2023 2024 Estimated expense $ 15,522 $ 15,130 $ 10,529 $ 7,154 $ 4,791 |
Consolidated Variable Interes_2
Consolidated Variable Interest Entities Consolidated Variable Interest Entities (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
DisclosureofVariableInterestEntities [Abstract] | |
Schedule of Variable Interest Entities [Table Text Block] | The following table summarizes the assets and liabilities included in our Consolidated Balance Sheets after appropriate eliminations have been made (in thousands): December 31, 2019 December 31, 2018 Assets Investment property, net $ 344,300 $ 308,171 Other assets 23,894 19,809 Total Assets $ 368,194 $ 327,980 Liabilities and Other Equity Debt $ 46,993 $ 44,172 Preferred Equity - Sun NG Resorts - mandatorily redeemable 35,249 35,277 Other liabilities 13,631 6,914 Total Liabilities 95,873 86,363 Equity Interest - NG Sun LLC & NG Whitewater 27,091 21,976 Noncontrolling interests 8,542 7,145 Total Liabilities and Other Equity $ 131,506 $ 115,484 |
Debt And Lines Of Credit (Table
Debt And Lines Of Credit (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Debt Disclosure [Abstract] | |
Schedule of debt and lines of credit [Table Text Block] | The following table sets forth certain information regarding debt including premiums, discounts, and deferred financing costs (in thousands): Carrying Amount Weighted Average Years to Maturity Weighted Average Interest Rates December 31, 2019 December 31, 2018 December 31, 2019 December 31, 2018 December 31, 2019 December 31, 2018 Collateralized term loans - Life Companies $ 1,710,408 $ 1,259,158 17.1 14.4 4.0 % 3.9 % Collateralized term loans - FNMA 697,589 770,417 7.0 5.1 3.7 % 4.4 % Collateralized term loans - CMBS 397,868 405,702 3.1 4.1 5.1 % 5.1 % Collateralized term loans - FMCC 374,727 380,680 4.9 5.9 3.9 % 3.9 % Secured borrowings — 107,731 0.0 14.4 — % 9.9 % Preferred equity - Sun NG Resorts - mandatorily redeemable 35,249 35,277 2.8 3.8 6.0 % 6.0 % Preferred OP units - mandatorily redeemable 34,663 37,338 4.0 4.7 6.5 % 6.6 % Lines of credit 183,898 128,000 3.5 2.3 2.7 % 3.8 % Total debt $ 3,434,402 $ 3,124,303 11.1 9.0 4.0 % 4.5 % Three months ended Loan amount (in millions) Term (in years) Interest rate Maturity date December 31, 2019 $ 400.0 (1) 21 4.026 % December 15, 2039 December 15, 2041 September 30, 2019 $ 250.0 10 2.925 % October 1, 2029 March 31, 2019 $ 265.0 25 4.170 % January 15, 2044 December 31, 2018 $ 21.7 20 4.100 % August 15, 2038 September 30, 2018 $ 228.0 20 4.100 % August 15, 2038 |
Schedule of Extinguishment of Debt [Table Text Block] | Three months ended Repayment amount (in millions) Fixed Interest rate Maturity date (Gain) / loss on extinguishment of debt (in millions) Encumbered communities released December 31, 2019 $ 17.0 5.62 % March 1, 2020 $ — — $ 127.3 5.10 % November 1, 2021 $ 3.2 — $ 21.5 (1) 6.24 % (4) March 1, 2020 April 1, 2020 $ (0.2 ) 3 September 30, 2019 $ 134.0 4.3 % May 1, 2023 $ 12.8 — March 31, 2019 $ 186.8 3.83 % January 1, 2030 $ 0.7 — December 31, 2018 $ 10.2 5.66 % February 28, 2019 $ — — September 30, 2018 $ 30.5 6.34 % March 1, 2019 $ 0.9 1 June 30, 2018 (2) $ 177.7 4.53 % (4) August 1, 2018 May 1, 2023 $ 1.5 11 March 31, 2018 (3) $ 24.4 6.36 % (4) March 1, 2019 $ 0.2 3 |
Maturities and Amortization of debt and lines of credit [Table Text Block] | As of December 31, 2019 , the total of maturities and amortization of our debt (excluding premiums and discounts) and lines of credit during the next five years were as follows (in thousands): Maturities and Amortization By Year Total Due 2020 2021 2022 2023 2024 Thereafter Mortgage loans payable Maturities $ 2,161,615 $ 19,796 $ 148,378 $ 82,155 $ 185,618 $ 315,331 $ 1,410,337 Principal amortization 1,026,857 60,723 60,873 61,326 60,604 57,082 726,249 Preferred Equity - Sun NG Resorts - mandatorily redeemable 35,249 — — 35,249 — — — Preferred OP units - mandatorily redeemable 34,663 — — — — 34,663 — Lines of credit 183,898 10,000 13,293 10,000 150,605 — — Total $ 3,442,282 $ 90,519 $ 222,544 $ 188,730 $ 396,827 $ 407,076 $ 2,136,586 |
Equity Transactions (Tables)
Equity Transactions (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Equity [Abstract] | |
Schedule of Sale of Common Stock [Table Text Block] | Issuances of common stock under our previous at the market offering sales agreement during 2017 were as follows: Quarter Ended Common stock issued Weighted average sales price Net proceeds (in millions) June 30, 2017 400,000 $ 85.01 $ 33.6 March 31, 2017 280,502 $ 76.47 $ 21.2 |
Schedule of Conversions of Stock [Table Text Block] | Below is the activity of conversions during 2019 and 2018 : Year Ended December 31, 2019 December 31, 2018 Series Conversion Rate Units/Shares Common Stock Units/Shares Common Stock Common OP unit 1.0000 485,629 485,629 20,608 20,608 Series A-1 preferred OP unit 2.4390 22,707 55,370 13,430 32,752 Series A-4 preferred OP unit 0.4444 4,708 2,092 13,765 6,116 Series A-4 preferred stock 0.4444 1,062,789 472,366 22,576 10,033 Series C preferred OP unit 1.1100 4,014 4,455 1,919 2,130 |
Schedule of Preferred Units [Table Text Block] | Year Ended December 31, 2019 Series Units/Shares Common OP units Series A-4 preferred OP units 405,656 180,277 |
Share-Based Compensation Tables
Share-Based Compensation Tables (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Share-based Payment Arrangement, Noncash Expense [Abstract] | |
Schedule Of Share-based Compensation Costs Related To Unvested Restricted Stock [Table Text Block] | The remaining share-based compensation cost, net related to our unvested restricted shares outstanding as of December 31, 2019 is approximately $39.0 million . The following table summarizes our expected share-based compensation cost, net related to our unvested restricted shares, in millions: 2020 2021 2022 Thereafter Expected share-based compensation costs, net $ 16.6 $ 11.3 $ 7.1 $ 4.0 |
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block] | The following table summarizes our restricted stock activity for the years ended December 31, 2019 , 2018 , and 2017 : Number of Shares Weighted Average Grant Date Fair Value Unvested restricted shares at January 1, 2017 841,634 $ 56.38 Granted 219,400 $ 79.38 Vested (196,412 ) $ 47.60 Forfeited (4,769 ) $ 56.43 Unvested restricted shares at December 31, 2017 859,853 $ 64.25 Granted 233,400 $ 87.12 Vested (214,111 ) $ 54.69 Forfeited (8,025 ) $ 72.16 Unvested restricted shares at December 31, 2018 871,117 $ 72.65 Granted 190,020 $ 117.47 Vested (237,406 ) $ 64.46 Forfeited (10,690 ) $ 79.58 Unvested restricted shares at December 31, 2019 813,041 $ 85.43 During the year ended December 31, 2019 and 2018 , shares were granted as follows: Grant Period Type Plan Shares Granted Grant Date Fair Value Per Share Vesting Type Vesting Anniversary Percentage 2019 Executive Officers 2015 Equity Incentive Plan 44,000 $ 115.39 (1) Time Based 20.0% annually over 5 years 2019 Executive Officers 2015 Equity Incentive Plan 66,000 (2) $ 115.39 (2) Market Condition 3rd 100.0 % 2019 Directors 2004 Non-Employee Director Option Plan 18,000 $ 113.68 (1) Time Based 3rd 100.0 % 2019 Key Employees 2015 Equity Incentive Plan 55,770 $ 120.01 (1) Time Based 20.0% annually over 5 years 2019 Key Employees 2015 Equity Incentive Plan 6,250 $ 142.48 (1) Time Based 20.0% annually over 5 years 2018 Key Employees 2015 Equity Incentive Plan 16,500 $ 88.30 (1) Time Based 2nd 35.0 % 3rd 35.0 % 4th 20.0 % 5th 5.0 % 6th 5.0 % 2018 Key Employees 2015 Equity Incentive Plan 50,100 $ 86.97 (1) Time Based 20.0% annually over 5 years 2018 Executive Officers 2015 Equity Incentive Plan 60,000 $ 87.24 (1) Time Based 20.0% annually over 5 years 2018 Executive Officers 2015 Equity Incentive Plan 90,000 $ 65.24 (3) Market Condition 3rd 100.0 % 2018 Directors 2004 Non-Employee Director Option Plan 16,800 $ 85.28 (1) Time Based 3rd 100.0 % (1) Grant date fair value is measured based on the closing price of our common stock on the date(s) shares are issued. (2) Share-based compensation for restricted stock awards with market and performance conditions is measured based on an estimate of shares expected to vest. We estimate the fair value of share-based compensation for restricted stock with market conditions using a Monte Carlo simulation. At the grant date, our common stock price was $115.39 . Based on the Monte Carlo simulation we expect 75.1% of the 66,000 shares to vest. (3) Share-based compensation for restricted stock awards with market conditions is measured based on an estimate of shares expected to vest. We estimate the fair value of share-based compensation for restricted stock with market conditions using a Monte Carlo simulation. At the grant date, our common stock price was $ 87.24 . Based on the Monte Carlo simulation we expect 74.8% of the 90,000 shares to vest. |
Segment Reporting (Tables)
Segment Reporting (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Segment Reporting [Abstract] | |
Schedule of Segment Reporting Information, by Segment [Table Text Block] | A presentation of our segment financial information is summarized as follows (amounts in thousands): Year Ended December 31, 2019 December 31, 2018 December 31, 2017 Real Property Operations Home Sales and Rentals Consolidated Real Property Operations Home Sales and Rentals Consolidated Real Property Operations Home Sales and Rentals Consolidated Revenues $ 992,545 $ 239,508 $ 1,232,053 $ 880,080 $ 219,688 $ 1,099,768 $ 779,739 $ 177,957 $ 957,696 Operating expenses / Cost of sales 375,690 156,352 532,042 330,695 146,637 477,332 290,016 117,274 407,290 Net operating income / Gross profit 616,855 83,156 700,011 549,385 73,051 622,436 489,723 60,683 550,406 Adjustments to arrive at net income / (loss) Interest and other revenues, net 31,984 — 31,984 27,057 — 27,057 24,875 (1 ) 24,874 Home selling expenses — (14,690 ) (14,690 ) — (15,722 ) (15,722 ) — (12,457 ) (12,457 ) General and administrative expenses (82,320 ) (11,644 ) (93,964 ) (70,512 ) (10,917 ) (81,429 ) (74,548 ) (9,425 ) (83,973 ) Catastrophic weather related charges, net (1,729 ) (8 ) (1,737 ) 140 (232 ) (92 ) (7,856 ) (496 ) (8,352 ) Depreciation and amortization (250,686 ) (77,381 ) (328,067 ) (218,617 ) (68,645 ) (287,262 ) (199,960 ) (61,576 ) (261,536 ) Loss on extinguishment of debt (16,505 ) — (16,505 ) (1,190 ) — (1,190 ) (4,676 ) — (4,676 ) Interest on mandatorily redeemable preferred OP units / equity (4,698 ) — (4,698 ) (3,694 ) — (3,694 ) (3,114 ) — (3,114 ) Interest expense (133,125 ) (28 ) (133,153 ) (130,535 ) (21 ) (130,556 ) (128,456 ) (15 ) (128,471 ) Gain / (loss) on remeasurement of marketable securities 34,240 — 34,240 (3,639 ) — (3,639 ) — — — Other income / (expense), net 3,604 (147 ) 3,457 (6,414 ) (39 ) (6,453 ) 8,983 (1 ) 8,982 Income from nonconsolidated affiliates — 1,374 1,374 — 790 790 — — — Current tax expense (746 ) (349 ) (1,095 ) (372 ) (223 ) (595 ) (62 ) (384 ) (446 ) Deferred tax benefit 222 — 222 507 — 507 582 — 582 Net income / (loss) 197,096 (19,717 ) 177,379 142,116 (21,958 ) 120,158 105,491 (23,672 ) 81,819 Less: Preferred return to preferred OP units / equity (6,058 ) — (6,058 ) (4,486 ) — (4,486 ) (4,581 ) — (4,581 ) Less: Amounts attributable to noncontrolling interests (10,659 ) 891 (9,768 ) (9,512 ) 1,069 (8,443 ) (6,319 ) 1,264 (5,055 ) Net income / (loss) attributable to Sun Communities, Inc. 180,379 (18,826 ) 161,553 128,118 (20,889 ) 107,229 94,591 (22,408 ) 72,183 Less: Preferred stock distribution (1,288 ) — (1,288 ) (1,736 ) — (1,736 ) (7,162 ) — (7,162 ) Net income / (loss) attributable to Sun Communities, Inc. common stockholders $ 179,091 $ (18,826 ) $ 160,265 $ 126,382 $ (20,889 ) $ 105,493 $ 87,429 $ (22,408 ) $ 65,021 |
Income Taxes (Tables)
Income Taxes (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Income Tax Disclosure [Abstract] | |
Schedule of Tax Characterization of Dividends [Table Text Block] | For the years ended December 31, 2019 , 2018 , and 2017 , distributions paid per share were taxable as follows (unaudited / rounded): Year Ended December 31, 2019 December 31, 2018 December 31, 2017 Amount Percentage Amount Percentage Amount Percentage Ordinary income (1) $ 1.66 56.0 % $ 1.58 56.4 % $ 0.83 31.2 % Capital gain — — % 0.13 4.8 % — — % Return of capital 1.30 44.0 % 1.09 38.8 % 1.83 68.8 % Total distributions declared $ 2.96 100.0 % $ 2.80 100.0 % $ 2.66 100.0 % |
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] | The components of our provision / (benefit) for income taxes attributable to continuing operations for the year ended December 31, 2019 and 2018 are as follows (amounts in thousands): Year Ended December 31, 2019 December 31, 2018 Federal Current $ (3 ) $ (102 ) State and Local Current 919 701 Deferred — 11 Foreign Current 179 (4 ) Deferred (222 ) (518 ) Total (benefit) / provision $ 873 $ 88 |
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | A reconciliation of the provision / (benefit) for income taxes with the amount computed by applying the statutory federal income tax rate to income before provision for income taxes for the year ended December 31, 2019 and 2018 is as follows (amounts in thousands): Year Ended December 31, 2019 December 31, 2018 Pre-tax loss attributable to taxable subsidiaries $ (4,122 ) $ (7,299 ) Federal (benefit) / provision at statutory tax rate (866 ) 21.0 % (1,534 ) 21.0 % State and local taxes, net of federal benefit 42 (1.0 )% — — % Alternative minimum tax — — % — — % Rate differential (73 ) 1.8 % (112 ) 1.5 % Change in valuation allowance 526 (12.7 )% 2,885 (39.5 )% Change in deferred tax asset — — % — — % Others 692 (16.8 )% (1,576 ) 21.6 % Tax (benefit) / provision - taxable subsidiaries 321 (7.7 )% (337 ) 4.6 % Other state taxes - flow through subsidiaries 552 425 Total (benefit) / provision $ 873 $ 88 |
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | The deferred tax assets and liabilities included in the consolidated balance sheets are comprised of the following tax effects of temporary differences and based on the Tax Act (amounts in thousands): As of December 31, 2019 December 31, 2018 Deferred Tax Assets NOL carryforwards $ 18,009 $ 18,071 Depreciation and basis differences 28,787 28,140 Other 395 784 Gross deferred tax assets 47,191 46,995 Valuation allowance (45,342 ) (44,817 ) Net deferred tax assets 1,849 2,178 Deferred Tax Liabilities Basis differences - foreign investment (22,813 ) (22,406 ) Gross deferred tax liabilities (22,813 ) (22,406 ) Net Deferred Tax Liability (1) $ (20,964 ) $ (20,228 ) |
Earnings Per Share (Tables)
Earnings Per Share (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Earnings Per Share [Abstract] | |
Schedule of Calculation of Numerator and Denominator in Earnings Per Share [Table Text Block] | Computations of basic and diluted earnings per share were as follows (in thousands, except per share data): Year Ended December 31, 2019 December 31, 2018 December 31, 2017 Numerator Net Income attributable to Sun Communities, Inc. common stockholders $ 160,265 $ 105,493 $ 65,021 Less allocation to restricted stock awards (1,170 ) (831 ) (455 ) Basic earnings - Net income attributable to common stockholders after allocation to restricted stock awards $ 159,095 $ 104,662 $ 64,566 Add allocation to restricted stock awards 1,170 831 455 Diluted earnings - Net income attributable to common stockholders after allocation to restricted stock awards $ 160,265 $ 105,493 $ 65,021 Denominator Weighted average common shares outstanding 88,460 81,387 76,084 Add: dilutive stock options 1 2 2 Add: dilutive restricted stock 454 651 625 Diluted weighted average common shares and securities 88,915 82,040 76,711 Earnings per share available to common stockholders after allocation Basic earnings per share $ 1.80 $ 1.29 $ 0.85 Diluted earnings per share $ 1.80 $ 1.29 $ 0.85 |
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share [Table Text Block] | The following table presents the outstanding securities that were excluded from the computation of diluted earnings per share for the years ended December 31, 2019 , 2018 and 2017 (amounts in thousands): Year Ended December 31, 2019 December 31, 2018 December 31, 2017 Common OP units 2,420 2,726 2,746 Series A-4 preferred stock — 1,063 1,085 A-3 preferred OP units 40 40 40 A-1 preferred OP units 309 332 345 A-4 preferred OP units — 410 424 Aspen preferred OP units 1,284 1,284 1,284 Series C preferred OP units 310 314 316 Series D preferred OP units 489 — — Total securities 4,852 6,169 6,240 |
Quarterly Financial Informati_2
Quarterly Financial Information (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Quarterly Financial Information Disclosure [Abstract] | |
Quarterly Financial Information [Table Text Block] | condensed summary of our unaudited quarterly results for years ended 2019 and 2018 (in thousands, except per share data): 2019 Quarters 2018 Quarters March 31, 2019 June 30, 2019 September 30, 2019 December 31, 2019 March 31, 2018 June 30, 2018 September 30, 2018 December 31, 2018 Total Revenues $ 287,330 $ 312,445 $ 362,443 $ 301,819 $ 257,975 $ 271,434 $ 323,413 $ 274,003 Total Expenses 252,759 272,273 305,989 293,835 221,871 245,125 273,119 257,162 Income Before Other Items $ 34,571 $ 40,172 $ 56,454 $ 7,984 $ 36,104 $ 26,309 $ 50,294 $ 16,841 Net Income attributable to Sun Communities, Inc. common stockholders $ 34,331 $ 40,385 $ 57,002 $ 28,547 $ 29,986 $ 20,408 $ 46,060 $ 9,039 Earnings per share (1) Basic earnings per share $ 0.40 $ 0.46 $ 0.63 $ 0.31 $ 0.38 $ 0.25 $ 0.56 $ 0.11 Diluted earnings per share $ 0.40 $ 0.46 $ 0.63 $ 0.31 $ 0.38 $ 0.25 $ 0.56 $ 0.11 (1) Earnings per share for the year may not equal the sum of the fiscal quarters’ earnings per share due to changes in basic and diluted shares outstanding. |
Fair Value of Financial Instr_2
Fair Value of Financial Instruments (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Fair Value Disclosures [Abstract] | |
Fair Value, by Balance Sheet Grouping | The table presents the carrying values and fair values of our financial instruments as of December 31, 2019 and December 31, 2018 , that were measured using the valuation techniques described above (in thousands). The table excludes other financial instruments such as cash and cash equivalents, accounts receivable, and accounts payable as the carrying values associated with these instruments approximate fair value since their maturities are less than one year. December 31, 2019 December 31, 2018 Financial assets Carrying Value Fair Value Carrying Value Fair Value Marketable securities $ 94,727 $ 94,727 $ 49,037 $ 49,037 Installment notes receivable on manufactured homes, net 95,580 95,580 112,798 112,798 Collateralized receivables, net — — 106,924 106,924 Notes receivable from real estate developers 18,960 18,960 — — Total $ 209,267 $ 209,267 $ 268,759 $ 268,759 Financial liabilities Debt (excluding secured borrowings) $ 3,250,504 $ 3,270,544 $ 2,888,572 $ 2,757,649 Secured borrowings — — 107,731 107,731 Lines of credit 183,898 183,898 128,000 128,000 Other liabilities (contingent consideration) 6,134 6,134 4,640 4,640 Total $ 3,440,536 $ 3,460,576 $ 3,128,943 $ 2,998,020 |
Recent Accounting Pronounceme_2
Recent Accounting Pronouncements Recent Accounting Pronouncements (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
New Accounting Pronouncements and Changes in Accounting Principles [Abstract] | |
Restrictions on Cash and Cash Equivalents [Table Text Block] | Restricted Cash Restricted cash consists of amounts primarily held in deposit for tax, insurance and repair escrows held by lenders in accordance with certain debt agreements. At December 31, 2019 and 2018 , $12.7 million and $12.0 million of restricted cash, respectively, was included as a component of Cash, cash equivalents and restricted cash on the Consolidated Balance Sheets On January 1, 2018, we adopted ASU 2016-18 “Statement of Cash Flows (Topic 230): Restricted Cash.” This update required inclusion of restricted cash and restricted cash equivalents with cash and cash equivalents when reconciling the beginning-of-period and end-of-period total amounts shown on the statement of cash flows. Upon adoption of this standard, changes in restricted cash are reported in our Consolidated Statements of Cash Flows as operating, investing or financing activities based on the nature of the underlying activity. |
Leases (Tables)
Leases (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Leases [Abstract] | |
Finance Lease, Liability, Maturity [Table Text Block] | Future minimum lease payments under non-cancellable leases as of the year ended December 31, 2019 where we are the lessee include: Maturity of lease liabilities (in thousands) Operating Leases Finance Leases Total 2020 $ 2,397 $ 120 $ 2,517 2021 2,446 120 2,566 2022 2,483 120 2,603 2023 2,572 120 2,692 2024 2,868 4,060 6,928 Thereafter 32,277 — 32,277 Total lease payments $ 45,043 $ 4,540 $ 49,583 Less: Imputed interest (20,821 ) (459 ) (21,280 ) Present value of lease liabilities $ 24,222 $ 4,081 $ 28,303 |
Lessee, Operating Lease, Liability, Maturity [Table Text Block] | Future minimum lease payments under non-cancellable leases as of the year ended December 31, 2019 where we are the lessee include: Maturity of lease liabilities (in thousands) Operating Leases Finance Leases Total 2020 $ 2,397 $ 120 $ 2,517 2021 2,446 120 2,566 2022 2,483 120 2,603 2023 2,572 120 2,692 2024 2,868 4,060 6,928 Thereafter 32,277 — 32,277 Total lease payments $ 45,043 $ 4,540 $ 49,583 Less: Imputed interest (20,821 ) (459 ) (21,280 ) Present value of lease liabilities $ 24,222 $ 4,081 $ 28,303 |
Lease, Cost [Table Text Block] | ROU assets and lease liabilities for finance and operating leases as included in our Consolidated Financial Statements are as follows: Lease asset and liabilities (in thousands) Description Financial Statement Classification December 31, 2019 Description Financial Statement Classification December 31, 2018 Lease assets Right-of-use asset obtained in exchange for new finance lease liabilities Other asset, net $ 4,081 Capital lease asset Land $ 4,098 Right-of-use asset obtained in exchange for new operating lease liabilities Other asset, net $ 23,751 n/a Right-of-use asset obtained relative to below market operating lease Other asset, net $ 28,366 Below market Lease intangible asset Other Asset, net $ 29,118 Lease liabilities Finance lease liabilities Other liabilities $ 4,081 Capital lease liabilities Other Liabilities $ 4,098 Operating lease liabilities Other liabilities $ 24,222 n/a Lease expense for finance and operating leases as included in our Consolidated Financial Statements are as follows: Lease expense (in thousands) Year Ended December 31, Description Financial Statement Classification 2019 Finance lease expense Amortization of right-of-use assets Interest expense $ 17 Interest on lease liabilities Interest expense 103 Operating lease cost General and administrative expense, Property operating and maintenance 3,474 Variable lease cost Property operating and maintenance 1,584 Total lease expense $ 5,178 Year Ended Description Financial Statement Classification December 31, 2018 December 31, 2017 Capital lease expense Amortization of lease Interest expense $ 16 $ — Interest on lease liabilities Interest expense 104 — Operating lease expense General and administrative expense, Property operating and maintenance 3,310 3,303 Below market ground lease amortization expense Property operating and maintenance 821 1,017 Total lease expense $ 4,251 $ 4,320 |
Significant Accounting Polici_3
Significant Accounting Policies Significant Accounting Policies (Details) $ in Thousands | 12 Months Ended | ||||||||
Dec. 31, 2019USD ($)expansion_site | Dec. 31, 2018USD ($)site | Dec. 31, 2017USD ($) | Dec. 31, 2019properties | Dec. 31, 2019site | Dec. 31, 2019sites | Dec. 31, 2019USD ($) | Dec. 31, 2019 | Sep. 30, 2019USD ($) | |
Significant Accounting Policies [Line Items] | |||||||||
Debt Issuance Costs, Line of Credit Arrangements, Net | $ 4,700 | $ 4,500 | |||||||
Cash, cash equivalents and restricted cash | $ 50,300 | 22,100 | |||||||
Cost Method Investment, Policy, Maximum Percentage Of Ownership | 5.00% | ||||||||
Number of Real Estate Properties | properties | 422 | ||||||||
Number of States in which Entity Operates | properties | 33 | ||||||||
Number of Units in Real Estate Property | 4,882 | 10,390 | 141,293 | ||||||
Cash, Uninsured Amount | $ 49,500 | 22,900 | |||||||
Marketable securities | 49,037 | 94,727 | $ 94,727 | ||||||
Restricted Cash and Cash Equivalents | 12,000 | $ 12,700 | |||||||
Advertising Expense | $ 6,700 | 6,200 | $ 5,900 | ||||||
Number of sites suitable for development | expansion_site | 900 | ||||||||
Unrealized foreign currency translation (gain) / loss | $ (4,500) | (8,400) | $ (5,900) | ||||||
Deferred Financing Costs and Discount and Premium Costs | $ 7,900 | $ 2,400 | |||||||
Land improvements and buildings [Member] | |||||||||
Significant Accounting Policies [Line Items] | |||||||||
Property, Plant and Equipment, Estimated Useful Lives | P30Y | ||||||||
Rental properties [Member] | |||||||||
Significant Accounting Policies [Line Items] | |||||||||
Property, Plant and Equipment, Estimated Useful Lives | P10Y | ||||||||
Maximum [Member] | |||||||||
Significant Accounting Policies [Line Items] | |||||||||
Resident Balance Past Due Period | 90 days | ||||||||
Finite-Lived Intangible Asset, Useful Life | 20 years | ||||||||
Minimum [Member] | |||||||||
Significant Accounting Policies [Line Items] | |||||||||
Resident Balance Past Due Period | 60 days | ||||||||
Finite-Lived Intangible Asset, Useful Life | 7 years | ||||||||
Minimum [Member] | Furniture and Fixtures [Member] | |||||||||
Significant Accounting Policies [Line Items] | |||||||||
Property, Plant and Equipment, Estimated Useful Lives | P7Y | ||||||||
Minimum [Member] | Computer Equipment [Member] | |||||||||
Significant Accounting Policies [Line Items] | |||||||||
Property, Plant and Equipment, Estimated Useful Lives | P4Y | ||||||||
Manufactured home community [Member] | |||||||||
Significant Accounting Policies [Line Items] | |||||||||
Number of Real Estate Properties | properties | 266 | ||||||||
Number of Units in Real Estate Property | sites | 93,821 | ||||||||
RV community [Member] | |||||||||
Significant Accounting Policies [Line Items] | |||||||||
Number of Real Estate Properties | properties | 122 | ||||||||
Transient RV site [Member] | |||||||||
Significant Accounting Policies [Line Items] | |||||||||
Number of Units in Real Estate Property | site | 21,416 | ||||||||
Manufactured Home And Rv Community [Member] | |||||||||
Significant Accounting Policies [Line Items] | |||||||||
Number of Real Estate Properties | properties | 34 | ||||||||
Number of sites suitable for development | sites | 10,300 | ||||||||
Annual Rv Sites [Member] | |||||||||
Significant Accounting Policies [Line Items] | |||||||||
Number of Units in Real Estate Property | site | 26,056 | ||||||||
Ingenia [Member] | |||||||||
Significant Accounting Policies [Line Items] | |||||||||
Equity Method Investment, Ownership Percentage | 10.00% |
Revenue (Details)
Revenue (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2019 | Sep. 30, 2019 | Jun. 30, 2019 | Mar. 31, 2019 | Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Disaggregation of Revenue [Line Items] | |||||||||||
Income from real property | $ 925,664 | $ 825,973 | $ 742,228 | ||||||||
Revenue from home sales | 181,936 | 166,031 | 127,408 | ||||||||
Rental home revenue | 57,572 | 53,657 | 50,549 | ||||||||
Ancillary revenue | 66,881 | 54,107 | 37,511 | ||||||||
Interest | 17,857 | 20,852 | 21,179 | ||||||||
Brokerage commissions and other revenues, net | 14,127 | 6,205 | 3,695 | ||||||||
Revenues | $ 301,819 | $ 362,443 | $ 312,445 | $ 287,330 | $ 274,003 | $ 323,413 | $ 271,434 | $ 257,975 | 1,264,037 | 1,126,825 | 982,570 |
Contract with Customer, Asset, Reclassified to Receivable | 20,900 | 16,100 | |||||||||
Real Property Operations Segment [Member] | |||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||
Income from real property | 742,228 | ||||||||||
Revenue from home sales | 0 | ||||||||||
Rental home revenue | 0 | ||||||||||
Ancillary revenue | 37,511 | ||||||||||
Interest | 21,180 | ||||||||||
Brokerage commissions and other revenues, net | 3,695 | ||||||||||
Revenues | 1,024,529 | 907,137 | 804,614 | ||||||||
Home Sales and Home Rentals Segment [Member] | |||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||
Income from real property | 0 | ||||||||||
Revenue from home sales | 127,408 | ||||||||||
Rental home revenue | 50,549 | ||||||||||
Ancillary revenue | 0 | ||||||||||
Interest | (1) | ||||||||||
Brokerage commissions and other revenues, net | 0 | ||||||||||
Revenues | 239,508 | 219,688 | $ 177,956 | ||||||||
Income From Real Property [Member] | |||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||
Income from real property | 925,664 | 825,973 | |||||||||
Income From Real Property [Member] | Real Property Operations Segment [Member] | |||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||
Income from real property | 925,664 | 825,973 | |||||||||
Income From Real Property [Member] | Home Sales and Home Rentals Segment [Member] | |||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||
Income from real property | 0 | 0 | |||||||||
Revenue From Home Sales [Member] | |||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||
Revenue from home sales | 181,936 | 166,031 | |||||||||
Revenue From Home Sales [Member] | Real Property Operations Segment [Member] | |||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||
Revenue from home sales | 0 | 0 | |||||||||
Revenue From Home Sales [Member] | Home Sales and Home Rentals Segment [Member] | |||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||
Revenue from home sales | 181,936 | 166,031 | |||||||||
Rental Home Revenue [Member] | |||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||
Rental home revenue | 57,572 | 53,657 | |||||||||
Rental Home Revenue [Member] | Real Property Operations Segment [Member] | |||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||
Rental home revenue | 0 | 0 | |||||||||
Rental Home Revenue [Member] | Home Sales and Home Rentals Segment [Member] | |||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||
Rental home revenue | 57,572 | 53,657 | |||||||||
Ancillary Revenues [Member] | |||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||
Ancillary revenue | 66,881 | 54,107 | |||||||||
Ancillary Revenues [Member] | Real Property Operations Segment [Member] | |||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||
Ancillary revenue | 66,881 | 54,107 | |||||||||
Ancillary Revenues [Member] | Home Sales and Home Rentals Segment [Member] | |||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||
Ancillary revenue | 0 | 0 | |||||||||
Interest [Member] | |||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||
Interest | 17,857 | 20,852 | |||||||||
Interest [Member] | Real Property Operations Segment [Member] | |||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||
Interest | 17,857 | 20,852 | |||||||||
Interest [Member] | Home Sales and Home Rentals Segment [Member] | |||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||
Interest | 0 | 0 | |||||||||
Brokerage Commissions And Other Revenues, Net [Member] | |||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||
Brokerage commissions and other revenues, net | 14,127 | 6,205 | |||||||||
Brokerage Commissions And Other Revenues, Net [Member] | Real Property Operations Segment [Member] | |||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||
Brokerage commissions and other revenues, net | 14,127 | 6,205 | |||||||||
Brokerage Commissions And Other Revenues, Net [Member] | Home Sales and Home Rentals Segment [Member] | |||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||
Brokerage commissions and other revenues, net | $ 0 | $ 0 |
Real Estate Acquisitions and _3
Real Estate Acquisitions and Dispositions Real Estate Acquisitions, Narrative (Details) | 1 Months Ended | 3 Months Ended | 6 Months Ended | 9 Months Ended | 12 Months Ended | ||||||||||||
Aug. 31, 2019USD ($) | Apr. 30, 2019USD ($) | Mar. 31, 2019USD ($) | Jun. 30, 2019USD ($)shares | Jun. 30, 2017shares | Mar. 31, 2017shares | Jun. 30, 2018shares | Sep. 30, 2018shares | Dec. 31, 2019USD ($)expansion_sitesiteshares | Dec. 31, 2018USD ($)sitedevelopment_siteshares | Dec. 31, 2017USD ($)shares | Dec. 31, 2019site | Dec. 31, 2019shares | Dec. 31, 2019development_site | Dec. 31, 2019sites | Dec. 31, 2019USD ($) | Sep. 30, 2019shares | |
Business Acquisition [Line Items] | |||||||||||||||||
Real Estate Acquisition Costs | $ 19,300,000 | ||||||||||||||||
Investment in property | $ 346,986,000 | $ 825,266,000 | |||||||||||||||
Number of Units in Real Estate Property | 4,882 | 10,390 | 141,293 | ||||||||||||||
Common stock, shares issued (in shares) | shares | 86,357,000 | 93,174,000 | |||||||||||||||
Number of MH Sites | site | 201 | ||||||||||||||||
Number of RV Sites | site | 301 | ||||||||||||||||
Number of Motor Home Communities | 2 | ||||||||||||||||
Number of Units in Real Estate Property, Development Sites | development_site | 1,166 | 926 | |||||||||||||||
Number of Shares | shares | 1,972,876 | ||||||||||||||||
New shares issued (in shares) | shares | 3,737,500 | 400,000,000 | 280,502 | 1,008,699 | 398,516 | 458,541 | 321,800 | ||||||||||
Proceeds from Issuance or Sale of Equity | $ 440,782,000 | $ 623,540,000 | $ 487,677,000 | ||||||||||||||
Cash, proceeds from dispositions held in escrow, or contingent liability | 853,682,000 | ||||||||||||||||
Payments to Acquire Businesses, Gross | 426,461,000 | 291,822,000 | |||||||||||||||
Proceeds from Issuance of Common Stock | $ 452,100,000 | ||||||||||||||||
In-Place leases | 17,199,000 | 6,163,000 | |||||||||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles | 22,302,000 | ||||||||||||||||
Other liabilities | 11,990,000 | (49,000) | |||||||||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net | 349,075,000 | 853,682,000 | |||||||||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Liabilities, Long-term Debt | (3,120,000) | 61,900,000 | |||||||||||||||
Business Combination, Consideration Transferred, Equity Interests Issued and Issuable | $ 365,321,000 | ||||||||||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Land | 7,700,000 | ||||||||||||||||
Number of sites suitable for development | expansion_site | 900 | ||||||||||||||||
Purchase of Tangible Property | $ 300,000 | ||||||||||||||||
Slick Rock [Member] | |||||||||||||||||
Business Acquisition [Line Items] | |||||||||||||||||
Investment in property | 8,250,000 | ||||||||||||||||
Number of Units in Real Estate Property | site | 193 | ||||||||||||||||
Number of Units in Real Estate Property, Development Sites | site | 0 | ||||||||||||||||
Payments to Acquire Businesses, Gross | $ 8,258,000 | ||||||||||||||||
In-Place leases | 0 | ||||||||||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles | 0 | ||||||||||||||||
Other liabilities | 8,000 | ||||||||||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net | 8,258,000 | ||||||||||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Liabilities, Long-term Debt | 0 | ||||||||||||||||
Pandion Ridge [Member] | |||||||||||||||||
Business Acquisition [Line Items] | |||||||||||||||||
Investment in property | 19,070,000 | ||||||||||||||||
Number of Units in Real Estate Property | site | 142 | ||||||||||||||||
Number of Units in Real Estate Property, Development Sites | site | 351 | ||||||||||||||||
Payments to Acquire Businesses, Gross | 18,978,000 | ||||||||||||||||
In-Place leases | 0 | ||||||||||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles | 0 | ||||||||||||||||
Other liabilities | (92,000) | ||||||||||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net | 18,978,000 | ||||||||||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Liabilities, Long-term Debt | 0 | ||||||||||||||||
Jensen Property Acquisition [Member] | |||||||||||||||||
Business Acquisition [Line Items] | |||||||||||||||||
Number of Units in Real Estate Property | site | 5,230 | ||||||||||||||||
Number of Units in Real Estate Property, Development Sites | site | 466 | ||||||||||||||||
Glen Ellis [Member] | |||||||||||||||||
Business Acquisition [Line Items] | |||||||||||||||||
Investment in property | 5,955,000 | ||||||||||||||||
Number of Units in Real Estate Property | site | 244 | ||||||||||||||||
Number of Units in Real Estate Property, Development Sites | development_site | 40 | ||||||||||||||||
Payments to Acquire Businesses, Gross | 1,976,000 | ||||||||||||||||
In-Place leases | 0 | ||||||||||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles | 0 | ||||||||||||||||
Other liabilities | (79,000) | ||||||||||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net | 5,876,000 | ||||||||||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Liabilities, Long-term Debt | 3,900,000 | ||||||||||||||||
Leisure Point Resort [Member] | |||||||||||||||||
Business Acquisition [Line Items] | |||||||||||||||||
Investment in property | 43,632,000 | ||||||||||||||||
Number of Units in Real Estate Property | site | 502 | ||||||||||||||||
Number of Units in Real Estate Property, Development Sites | development_site | 0 | ||||||||||||||||
Payments to Acquire Businesses, Gross | 43,822,000 | ||||||||||||||||
In-Place leases | 18,000 | ||||||||||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles | 850,000 | ||||||||||||||||
Other liabilities | (678,000) | ||||||||||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net | 43,822,000 | ||||||||||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Liabilities, Long-term Debt | 0 | ||||||||||||||||
Reunion Lake [Member] | |||||||||||||||||
Business Acquisition [Line Items] | |||||||||||||||||
Investment in property | 23,493,000 | ||||||||||||||||
Number of Units in Real Estate Property | site | 202 | ||||||||||||||||
Number of Units in Real Estate Property, Development Sites | development_site | 69 | ||||||||||||||||
Payments to Acquire Businesses, Gross | 22,340,000 | ||||||||||||||||
In-Place leases | 0 | ||||||||||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles | 0 | ||||||||||||||||
Other liabilities | (1,153,000) | ||||||||||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net | 22,340,000 | ||||||||||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Liabilities, Long-term Debt | 0 | ||||||||||||||||
River Plantation [Member] | |||||||||||||||||
Business Acquisition [Line Items] | |||||||||||||||||
Investment in property | 22,589,000 | ||||||||||||||||
Number of Units in Real Estate Property | site | 309 | ||||||||||||||||
Number of Units in Real Estate Property, Development Sites | development_site | 0 | ||||||||||||||||
Payments to Acquire Businesses, Gross | 22,664,000 | ||||||||||||||||
In-Place leases | 75,000 | ||||||||||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles | 0 | ||||||||||||||||
Other liabilities | 0 | ||||||||||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net | 22,664,000 | ||||||||||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Liabilities, Long-term Debt | 0 | ||||||||||||||||
Massey's Landing [Member] | |||||||||||||||||
Business Acquisition [Line Items] | |||||||||||||||||
Investment in property | 36,250,000 | ||||||||||||||||
Number of Units in Real Estate Property | site | 291 | ||||||||||||||||
Number of Units in Real Estate Property, Development Sites | development_site | 0 | ||||||||||||||||
Payments to Acquire Businesses, Gross | 36,024,000 | ||||||||||||||||
In-Place leases | 0 | ||||||||||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles | 220,000 | ||||||||||||||||
Other liabilities | (446,000) | ||||||||||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net | 36,024,000 | ||||||||||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Liabilities, Long-term Debt | 0 | ||||||||||||||||
Shelby Properties [Member] | |||||||||||||||||
Business Acquisition [Line Items] | |||||||||||||||||
Investment in property | 85,969,000 | ||||||||||||||||
Number of Units in Real Estate Property | site | 1,308 | ||||||||||||||||
Number of Units in Real Estate Property, Development Sites | development_site | 0 | ||||||||||||||||
Payments to Acquire Businesses, Gross | 93,485,000 | ||||||||||||||||
In-Place leases | 2,011,000 | ||||||||||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles | 6,520,000 | ||||||||||||||||
Other liabilities | (1,015,000) | ||||||||||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net | 93,485,000 | ||||||||||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Liabilities, Long-term Debt | 0 | ||||||||||||||||
Buena Vista [Member] | |||||||||||||||||
Business Acquisition [Line Items] | |||||||||||||||||
Investment in property | 20,221,000 | ||||||||||||||||
Number of Units in Real Estate Property | site | 400 | ||||||||||||||||
Number of Units in Real Estate Property, Development Sites | development_site | 0 | ||||||||||||||||
Payments to Acquire Businesses, Gross | 22,157,000 | ||||||||||||||||
In-Place leases | 439,000 | ||||||||||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles | 1,590,000 | ||||||||||||||||
Other liabilities | (93,000) | ||||||||||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net | 22,157,000 | ||||||||||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Liabilities, Long-term Debt | 0 | ||||||||||||||||
Country Village [Member] | |||||||||||||||||
Business Acquisition [Line Items] | |||||||||||||||||
Investment in property | 62,784,000 | ||||||||||||||||
Number of Units in Real Estate Property | site | 518 | ||||||||||||||||
Number of Units in Real Estate Property, Development Sites | development_site | 0 | ||||||||||||||||
Payments to Acquire Businesses, Gross | 12,905,000 | ||||||||||||||||
In-Place leases | 0 | ||||||||||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles | 2,020,000 | ||||||||||||||||
Other liabilities | 31,000 | ||||||||||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net | 64,835,000 | ||||||||||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Liabilities, Long-term Debt | 0 | ||||||||||||||||
Hid'n Pines [Member] | |||||||||||||||||
Business Acquisition [Line Items] | |||||||||||||||||
Investment in property | 10,680,000 | ||||||||||||||||
Number of Units in Real Estate Property | site | 321 | ||||||||||||||||
Number of Units in Real Estate Property, Development Sites | development_site | 0 | ||||||||||||||||
Payments to Acquire Businesses, Gross | 10,517,000 | ||||||||||||||||
In-Place leases | 0 | ||||||||||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles | 70,000 | ||||||||||||||||
Other liabilities | (233,000) | ||||||||||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net | 10,517,000 | ||||||||||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Liabilities, Long-term Debt | 0 | ||||||||||||||||
Hacienda del Rio [Member] | |||||||||||||||||
Business Acquisition [Line Items] | |||||||||||||||||
Investment in property | 111,971,000 | ||||||||||||||||
Number of Units in Real Estate Property | site | 730 | ||||||||||||||||
Number of Units in Real Estate Property, Development Sites | development_site | 0 | ||||||||||||||||
Payments to Acquire Businesses, Gross | 115,029,000 | ||||||||||||||||
In-Place leases | 15,000 | ||||||||||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles | 3,280,000 | ||||||||||||||||
Other liabilities | (237,000) | ||||||||||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net | 115,029,000 | ||||||||||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Liabilities, Long-term Debt | 0 | ||||||||||||||||
Archview [Member] | |||||||||||||||||
Business Acquisition [Line Items] | |||||||||||||||||
Investment in property | $ 14,550,000 | ||||||||||||||||
Number of Units in Real Estate Property | site | 114 | ||||||||||||||||
Number of Units in Real Estate Property, Development Sites | development_site | 50 | ||||||||||||||||
Payments to Acquire Businesses, Gross | $ 14,550,000 | ||||||||||||||||
In-Place leases | 0 | ||||||||||||||||
Other liabilities | 0 | ||||||||||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net | 14,550,000 | ||||||||||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Liabilities, Long-term Debt | 0 | ||||||||||||||||
Business Combination, Consideration Transferred, Equity Interests Issued and Issuable | $ 0 | ||||||||||||||||
Petoskey RV Resort [Member] | |||||||||||||||||
Business Acquisition [Line Items] | |||||||||||||||||
Number of Units in Real Estate Property | site | 210 | ||||||||||||||||
Number of Units in Real Estate Property, Development Sites | development_site | 0 | ||||||||||||||||
The Sands [Member] | |||||||||||||||||
Business Acquisition [Line Items] | |||||||||||||||||
Investment in property | $ 13,790,000 | ||||||||||||||||
Number of Units in Real Estate Property | site | 507 | ||||||||||||||||
Number of Units in Real Estate Property, Development Sites | development_site | 0 | ||||||||||||||||
Payments to Acquire Businesses, Gross | $ 14,250,000 | ||||||||||||||||
In-Place leases | 460,000 | ||||||||||||||||
Other liabilities | 0 | ||||||||||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net | 14,250,000 | ||||||||||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Liabilities, Long-term Debt | 0 | ||||||||||||||||
Business Combination, Consideration Transferred, Equity Interests Issued and Issuable | 0 | ||||||||||||||||
Sun NG RV Resorts [Member] | |||||||||||||||||
Business Acquisition [Line Items] | |||||||||||||||||
Investment in property | $ 240,649,000 | ||||||||||||||||
Number of Units in Real Estate Property | site | 2,700 | ||||||||||||||||
Number of RV Sites | 10 | ||||||||||||||||
Number of Units in Real Estate Property, Development Sites | development_site | 940 | ||||||||||||||||
Payments to Acquire Businesses, Gross | $ 184,625,000 | ||||||||||||||||
In-Place leases | 16,339,000 | ||||||||||||||||
Other liabilities | (11,990,000) | ||||||||||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net | 241,878,000 | ||||||||||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Liabilities, Long-term Debt | (3,120,000) | ||||||||||||||||
Business Combination, Consideration Transferred, Equity Interests Issued and Issuable | 35,277,000 | ||||||||||||||||
Silver Creek [Member] | |||||||||||||||||
Business Acquisition [Line Items] | |||||||||||||||||
Investment in property | $ 7,250,000 | ||||||||||||||||
Number of Units in Real Estate Property | site | 264 | ||||||||||||||||
Number of Units in Real Estate Property, Development Sites | development_site | 176 | ||||||||||||||||
Payments to Acquire Businesses, Gross | $ 7,250,000 | ||||||||||||||||
In-Place leases | 0 | ||||||||||||||||
Other liabilities | 0 | ||||||||||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net | 7,250,000 | ||||||||||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Liabilities, Long-term Debt | 0 | ||||||||||||||||
Business Combination, Consideration Transferred, Equity Interests Issued and Issuable | 0 | ||||||||||||||||
Highway West [Member] | |||||||||||||||||
Business Acquisition [Line Items] | |||||||||||||||||
Investment in property | $ 36,500,000 | ||||||||||||||||
Number of Units in Real Estate Property | site | 536 | ||||||||||||||||
Number of RV Sites | 4 | ||||||||||||||||
Number of Units in Real Estate Property, Development Sites | development_site | 0 | ||||||||||||||||
Payments to Acquire Businesses, Gross | $ 36,500,000 | ||||||||||||||||
In-Place leases | 0 | ||||||||||||||||
Other liabilities | 0 | ||||||||||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net | 36,500,000 | ||||||||||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Liabilities, Long-term Debt | 0 | ||||||||||||||||
Business Combination, Consideration Transferred, Equity Interests Issued and Issuable | 0 | ||||||||||||||||
Compass [Member] | |||||||||||||||||
Business Acquisition [Line Items] | |||||||||||||||||
Investment in property | $ 13,930,000 | ||||||||||||||||
Number of Units in Real Estate Property | site | 175 | ||||||||||||||||
Number of Units in Real Estate Property, Development Sites | development_site | 0 | ||||||||||||||||
Payments to Acquire Businesses, Gross | $ 14,000,000 | ||||||||||||||||
In-Place leases | 70,000 | ||||||||||||||||
Other liabilities | 0 | ||||||||||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net | 14,000,000 | ||||||||||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Liabilities, Long-term Debt | 0 | ||||||||||||||||
Business Combination, Consideration Transferred, Equity Interests Issued and Issuable | $ 0 | ||||||||||||||||
Jensen Communities [Domain] | |||||||||||||||||
Business Acquisition [Line Items] | |||||||||||||||||
Investment in property | 374,402,000 | ||||||||||||||||
Payments to Acquire Businesses, Gross | 18,306,000 | ||||||||||||||||
In-Place leases | 3,605,000 | ||||||||||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles | 7,752,000 | ||||||||||||||||
Other liabilities | 3,938,000 | ||||||||||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net | 389,697,000 | ||||||||||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Liabilities, Long-term Debt | $ 58,000,000 | ||||||||||||||||
Series D Preferred OP Units [Member] | |||||||||||||||||
Business Acquisition [Line Items] | |||||||||||||||||
Temporary Equity, Shares Outstanding | shares | 488,958 | ||||||||||||||||
Series D Preferred OP Units [Member] | Slick Rock [Member] | |||||||||||||||||
Business Acquisition [Line Items] | |||||||||||||||||
Cash, proceeds from dispositions held in escrow, or contingent liability | 8,258,000 | ||||||||||||||||
Series D Preferred OP Units [Member] | Pandion Ridge [Member] | |||||||||||||||||
Business Acquisition [Line Items] | |||||||||||||||||
Cash, proceeds from dispositions held in escrow, or contingent liability | 18,978,000 | ||||||||||||||||
Series D Preferred OP Units [Member] | Glen Ellis [Member] | |||||||||||||||||
Business Acquisition [Line Items] | |||||||||||||||||
Cash, proceeds from dispositions held in escrow, or contingent liability | 5,876,000 | ||||||||||||||||
Series D Preferred OP Units [Member] | Leisure Point Resort [Member] | |||||||||||||||||
Business Acquisition [Line Items] | |||||||||||||||||
Cash, proceeds from dispositions held in escrow, or contingent liability | 43,822,000 | ||||||||||||||||
Series D Preferred OP Units [Member] | Reunion Lake [Member] | |||||||||||||||||
Business Acquisition [Line Items] | |||||||||||||||||
Cash, proceeds from dispositions held in escrow, or contingent liability | 22,340,000 | ||||||||||||||||
Series D Preferred OP Units [Member] | River Plantation [Member] | |||||||||||||||||
Business Acquisition [Line Items] | |||||||||||||||||
Cash, proceeds from dispositions held in escrow, or contingent liability | 22,664,000 | ||||||||||||||||
Series D Preferred OP Units [Member] | Massey's Landing [Member] | |||||||||||||||||
Business Acquisition [Line Items] | |||||||||||||||||
Cash, proceeds from dispositions held in escrow, or contingent liability | 36,024,000 | ||||||||||||||||
Series D Preferred OP Units [Member] | Shelby Properties [Member] | |||||||||||||||||
Business Acquisition [Line Items] | |||||||||||||||||
Cash, proceeds from dispositions held in escrow, or contingent liability | 93,485,000 | ||||||||||||||||
Series D Preferred OP Units [Member] | Buena Vista [Member] | |||||||||||||||||
Business Acquisition [Line Items] | |||||||||||||||||
Cash, proceeds from dispositions held in escrow, or contingent liability | 22,157,000 | ||||||||||||||||
Series D Preferred OP Units [Member] | Country Village [Member] | |||||||||||||||||
Business Acquisition [Line Items] | |||||||||||||||||
Cash, proceeds from dispositions held in escrow, or contingent liability | 64,835,000 | ||||||||||||||||
Business Combination, Consideration Transferred, Equity Interests Issued and Issuable | 51,930,000 | ||||||||||||||||
Series D Preferred OP Units [Member] | Hid'n Pines [Member] | |||||||||||||||||
Business Acquisition [Line Items] | |||||||||||||||||
Cash, proceeds from dispositions held in escrow, or contingent liability | 10,517,000 | ||||||||||||||||
Series D Preferred OP Units [Member] | Hacienda del Rio [Member] | |||||||||||||||||
Business Acquisition [Line Items] | |||||||||||||||||
Cash, proceeds from dispositions held in escrow, or contingent liability | 115,029,000 | ||||||||||||||||
Series D Preferred OP Units [Member] | Jensen Communities [Domain] | |||||||||||||||||
Business Acquisition [Line Items] | |||||||||||||||||
Cash, proceeds from dispositions held in escrow, or contingent liability | 389,697,000 | ||||||||||||||||
Business Combination, Consideration Transferred, Equity Interests Issued and Issuable | $ 313,391,000 | ||||||||||||||||
CT, GA, MD, NH, NJ, NY, NC and SC [Member] | Jensen Property Acquisition [Member] | |||||||||||||||||
Business Acquisition [Line Items] | |||||||||||||||||
Number of Units in Real Estate Property | site | 31 | ||||||||||||||||
Chincoteague [Member] | |||||||||||||||||
Business Acquisition [Line Items] | |||||||||||||||||
Cash, proceeds from dispositions held in escrow, or contingent liability | $ 19,500,000 | ||||||||||||||||
Strafford [Member] | |||||||||||||||||
Business Acquisition [Line Items] | |||||||||||||||||
Cash, proceeds from dispositions held in escrow, or contingent liability | $ 2,700,000 |
Real Estate Acquisitions and _4
Real Estate Acquisitions and Dispositions Real Estate Acquisitions, Purchase Price Allocation (Details) $ in Thousands | 12 Months Ended | ||||
Dec. 31, 2019USD ($)site | Dec. 31, 2018USD ($)sitedevelopment_site | Dec. 31, 2019development_site | Dec. 31, 2019sites | Dec. 31, 2019USD ($) | |
Business Acquisition [Line Items] | |||||
Number of Units in Real Estate Property | 10,390 | 4,882 | 141,293 | ||
Investment in property | $ 346,986 | $ 825,266 | |||
In-Place leases | 17,199 | 6,163 | |||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Liabilities, Long-term Debt | (3,120) | 61,900 | |||
Other liabilities | 11,990 | (49) | |||
Payments to Acquire Businesses, Gross | $ 426,461 | 291,822 | |||
Total identifiable assets and liabilities assumed | 349,075 | $ 853,682 | |||
Equity issued | 365,321 | ||||
Business Combination, Consideration Transferred, Other Liabilities Incurred, Net | $ 35,277 | ||||
Cash, proceeds from dispositions held in escrow, or contingent liability | $ 853,682 | ||||
Number of Units in Real Estate Property, Development Sites | development_site | 1,166 | 926 | |||
Leaf Verde RV Resort [Member] | |||||
Business Acquisition [Line Items] | |||||
Number of Units in Real Estate Property | site | 376 | ||||
Investment in property | $ 11,587 | ||||
In-Place leases | 60 | ||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Liabilities, Long-term Debt | 0 | ||||
Other liabilities | 0 | ||||
Payments to Acquire Businesses, Gross | 11,647 | ||||
Total identifiable assets and liabilities assumed | 11,647 | ||||
Equity issued | $ 0 | ||||
Number of Units in Real Estate Property, Development Sites | development_site | 0 | ||||
Archview [Member] | |||||
Business Acquisition [Line Items] | |||||
Number of Units in Real Estate Property | site | 114 | ||||
Investment in property | $ 14,550 | ||||
In-Place leases | 0 | ||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Liabilities, Long-term Debt | 0 | ||||
Other liabilities | 0 | ||||
Payments to Acquire Businesses, Gross | 14,550 | ||||
Total identifiable assets and liabilities assumed | 14,550 | ||||
Equity issued | $ 0 | ||||
Number of Units in Real Estate Property, Development Sites | development_site | 50 | ||||
Petoskey RV Resort [Member] | |||||
Business Acquisition [Line Items] | |||||
Number of Units in Real Estate Property | site | 210 | ||||
Number of Units in Real Estate Property, Development Sites | development_site | 0 | ||||
The Sands [Member] | |||||
Business Acquisition [Line Items] | |||||
Number of Units in Real Estate Property | site | 507 | ||||
Investment in property | $ 13,790 | ||||
In-Place leases | 460 | ||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Liabilities, Long-term Debt | 0 | ||||
Other liabilities | 0 | ||||
Payments to Acquire Businesses, Gross | 14,250 | ||||
Total identifiable assets and liabilities assumed | 14,250 | ||||
Equity issued | $ 0 | ||||
Number of Units in Real Estate Property, Development Sites | development_site | 0 | ||||
Sun NG RV Resorts [Member] | |||||
Business Acquisition [Line Items] | |||||
Number of Units in Real Estate Property | site | 2,700 | ||||
Investment in property | $ 240,649 | ||||
In-Place leases | 16,339 | ||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Liabilities, Long-term Debt | (3,120) | ||||
Other liabilities | (11,990) | ||||
Payments to Acquire Businesses, Gross | 184,625 | ||||
Total identifiable assets and liabilities assumed | 241,878 | ||||
Equity issued | $ 35,277 | ||||
Number of Units in Real Estate Property, Development Sites | development_site | 940 | ||||
Silver Creek [Member] | |||||
Business Acquisition [Line Items] | |||||
Number of Units in Real Estate Property | site | 264 | ||||
Investment in property | $ 7,250 | ||||
In-Place leases | 0 | ||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Liabilities, Long-term Debt | 0 | ||||
Other liabilities | 0 | ||||
Payments to Acquire Businesses, Gross | 7,250 | ||||
Total identifiable assets and liabilities assumed | 7,250 | ||||
Equity issued | $ 0 | ||||
Number of Units in Real Estate Property, Development Sites | development_site | 176 | ||||
Highway West [Member] | |||||
Business Acquisition [Line Items] | |||||
Number of Units in Real Estate Property | site | 536 | ||||
Investment in property | $ 36,500 | ||||
In-Place leases | 0 | ||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Liabilities, Long-term Debt | 0 | ||||
Other liabilities | 0 | ||||
Payments to Acquire Businesses, Gross | 36,500 | ||||
Total identifiable assets and liabilities assumed | 36,500 | ||||
Equity issued | $ 0 | ||||
Number of Units in Real Estate Property, Development Sites | development_site | 0 | ||||
Compass [Member] | |||||
Business Acquisition [Line Items] | |||||
Number of Units in Real Estate Property | site | 175 | ||||
Investment in property | $ 13,930 | ||||
In-Place leases | 70 | ||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Liabilities, Long-term Debt | 0 | ||||
Other liabilities | 0 | ||||
Payments to Acquire Businesses, Gross | 14,000 | ||||
Total identifiable assets and liabilities assumed | 14,000 | ||||
Equity issued | $ 0 | ||||
Number of Units in Real Estate Property, Development Sites | development_site | 0 | ||||
Petoskey KOA [Member] | |||||
Business Acquisition [Line Items] | |||||
Investment in property | $ 8,730 | ||||
In-Place leases | 270 | ||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Liabilities, Long-term Debt | 0 | ||||
Other liabilities | 0 | ||||
Payments to Acquire Businesses, Gross | 9,000 | ||||
Total identifiable assets and liabilities assumed | 9,000 | ||||
Equity issued | 0 | ||||
Series A Preferred Stock | |||||
Business Acquisition [Line Items] | |||||
Equity issued | 21,976 | ||||
Cash, proceeds from dispositions held in escrow, or contingent liability | 349,075 | ||||
Series A Preferred Stock | Leaf Verde RV Resort [Member] | |||||
Business Acquisition [Line Items] | |||||
Equity issued | 0 | ||||
Cash, proceeds from dispositions held in escrow, or contingent liability | 11,647 | ||||
Series A Preferred Stock | Archview [Member] | |||||
Business Acquisition [Line Items] | |||||
Equity issued | 0 | ||||
Cash, proceeds from dispositions held in escrow, or contingent liability | 14,550 | ||||
Series A Preferred Stock | The Sands [Member] | |||||
Business Acquisition [Line Items] | |||||
Equity issued | 0 | ||||
Cash, proceeds from dispositions held in escrow, or contingent liability | 14,250 | ||||
Series A Preferred Stock | Sun NG RV Resorts [Member] | |||||
Business Acquisition [Line Items] | |||||
Equity issued | 21,976 | ||||
Cash, proceeds from dispositions held in escrow, or contingent liability | 241,878 | ||||
Series A Preferred Stock | Silver Creek [Member] | |||||
Business Acquisition [Line Items] | |||||
Equity issued | 0 | ||||
Cash, proceeds from dispositions held in escrow, or contingent liability | 7,250 | ||||
Series A Preferred Stock | Highway West [Member] | |||||
Business Acquisition [Line Items] | |||||
Equity issued | 0 | ||||
Cash, proceeds from dispositions held in escrow, or contingent liability | 36,500 | ||||
Series A Preferred Stock | Compass [Member] | |||||
Business Acquisition [Line Items] | |||||
Equity issued | 0 | ||||
Cash, proceeds from dispositions held in escrow, or contingent liability | 14,000 | ||||
Series A Preferred Stock | Petoskey KOA [Member] | |||||
Business Acquisition [Line Items] | |||||
Equity issued | 0 | ||||
Cash, proceeds from dispositions held in escrow, or contingent liability | $ 9,000 |
Real Estate Acquisitions, Pro F
Real Estate Acquisitions, Pro Forma (Details) - USD ($) $ / shares in Units, $ in Thousands | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Business Acquisition [Line Items] | ||
Revenue | $ 42,715 | |
Net income | 10,050 | |
Acquisitions - 2018 [Member] | ||
Business Acquisition [Line Items] | ||
Revenue | 1,298,096 | $ 1,194,093 |
Net income | $ 166,446 | $ 120,891 |
Business Acquisition, Pro Forma Earnings Per Share, Basic | $ 1.88 | $ 1.49 |
Net income attributable to Sun Communities, Inc. shareholders - diluted (in dollars per share) | $ 1.87 | $ 1.47 |
Real Estate Acquisitions, Sched
Real Estate Acquisitions, Schedule of Land Acquired (Details) $ in Millions | 12 Months Ended |
Dec. 31, 2018USD ($)sitedevelopment_site | |
Business Acquisition [Line Items] | |
Number of Units in Real Estate Property, Land Development Sites | site | 2,275 |
Payments to Acquire Land | $ 14 |
Ocean West [Member] | |
Business Acquisition [Line Items] | |
Number of Units in Real Estate Property, Land Development Sites | development_site | 26 |
Payments to Acquire Land | $ 0.2 |
Water Oak [Member] | |
Business Acquisition [Line Items] | |
Number of Units in Real Estate Property, Land Development Sites | development_site | 296 |
Payments to Acquire Land | $ 1.9 |
Oak Crest [Member] | |
Business Acquisition [Line Items] | |
Number of Units in Real Estate Property, Land Development Sites | development_site | 220 |
Payments to Acquire Land | $ 4.2 |
Pecan Park [Member] | |
Business Acquisition [Line Items] | |
Number of Units in Real Estate Property, Land Development Sites | development_site | 158 |
Payments to Acquire Land | $ 1.3 |
Smith Creek Crossing [Member] | |
Business Acquisition [Line Items] | |
Number of Units in Real Estate Property, Land Development Sites | development_site | 310 |
Payments to Acquire Land | $ 0.9 |
Apple Carr Village [Member] | |
Business Acquisition [Line Items] | |
Number of Units in Real Estate Property, Land Development Sites | development_site | 121 |
Payments to Acquire Land | $ 0.2 |
River Run Ranch [Member] | |
Business Acquisition [Line Items] | |
Number of Units in Real Estate Property, Land Development Sites | development_site | 1,144 |
Payments to Acquire Land | $ 5.3 |
Collateralized Receivables an_3
Collateralized Receivables and Transfers of Financial Assets, Schedule of collateralized loans (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Derecognition of collateralized recievables | $ (90,350) | $ 0 |
Collateralized Receivables [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Beginning balance | 107,731 | 129,182 |
Principal payments and payoffs from our customers | (11,408) | (12,577) |
Principal reduction from repossessed homes | (5,973) | (8,874) |
Total activity | (107,731) | (21,451) |
Ending balance | $ 0 | $ 107,731 |
Collateralized Receivables an_4
Collateralized Receivables and Transfers of Financial Assets Collateralized Receivables and Transfers of Financial Assets, Allowance for Collateralized Receivables (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Provision for Loan and Lease Losses | $ 587 | $ 0 |
Collateralized Receivables [Member] | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Beginning balance | (807) | (936) |
Allowance for Loan and Lease Losses, Write-offs | 140 | 660 |
Provision for Loan and Lease Losses | 80 | (531) |
Total activity | 807 | 129 |
Ending balance | $ 0 | $ (807) |
Collateralized Receivables an_5
Collateralized Receivables and Transfers of Financial Assets, Narrative (Details) - USD ($) $ in Thousands | 12 Months Ended | |||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | Sep. 30, 2019 | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Transfers of Financial Assets Accounted for as Sale, Initial Fair Value of Assets Obtained as Proceeds | $ 600 | |||
Notes and other receivables, net | 157,926 | $ 160,077 | $ 157,926 | |
Collateralized Receivables [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans and Leases Receivable, Allowance | 0 | $ (807) | $ (936) | |
Receivable with Imputed Interest, Effective Yield (Interest Rate) | 9.90% | |||
Receivable With Imputed Interest, Term | 14 years 1 month 6 days | |||
Financing Receivable, before Allowance for Credit Loss | 0 | $ 107,731 | 129,182 | |
Interest Income (Expense), Net | $ 8,000 | 11,200 | $ 13,200 | |
Reported Value Measurement [Member] | Collateralized Receivables [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Notes and other receivables, net | 106,900 | |||
Reported Value Measurement [Member] | Fair Value, Recurring [Member] | Collateralized Receivables [Member] | Secured Debt [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Financing Receivable, before Allowance for Credit Loss | $ 107,700 |
Schedule of notes and other rec
Schedule of notes and other receivables (Details) - USD ($) $ in Thousands | Dec. 31, 2019 | Sep. 30, 2019 | Dec. 31, 2018 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total notes and other receivables, net | $ 157,926 | $ 157,926 | $ 160,077 |
Installment notes receivable on manufactured homes, net [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total notes and other receivables, net | 112,798 | ||
Notes receivable from real estate developers | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total notes and other receivables, net | 18,960 | 0 | |
Other receivables, net [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total notes and other receivables, net | 43,386 | 47,279 | |
Financing Receivable, Allowance for Credit Loss | (600) | ||
Total notes and other receivables [Domain] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total notes and other receivables, net | 157,926 | 160,077 | |
Reported Value Measurement [Member] | Installment notes receivable on manufactured homes, net [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total notes and other receivables, net | $ 19,000 | $ 112,798 |
Notes And Other Receivables Ins
Notes And Other Receivables Installment notes receivable on manufactured homes - narrative (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Sep. 30, 2019 | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Notes and other receivables, net | $ 157,926 | $ 160,077 | $ 157,926 |
Construction Loans [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Notes and other receivables, net | $ 95,580 | ||
Installment notes receivable on manufactured homes, net [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Notes and other receivables, net | 112,798 | ||
Loans and Leases Receivable, Allowance | $ (700) | ||
Receivable with Imputed Interest, Effective Yield (Interest Rate) | 8.00% | 8.00% | |
Receivable With Imputed Interest, Term | 15 years 9 months 18 days | 16 years 7 months 6 days | |
Installment notes receivable on manufactured homes, net [Member] | Reported Value Measurement [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Notes and other receivables, net | $ 19,000 | $ 112,798 | |
Other receivables, net [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Notes and other receivables, net | $ 43,386 | $ 47,279 |
Schedule of installment notes r
Schedule of installment notes receivable (Details) - Installment notes receivable on manufactured homes, gross [Member] - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Beginning balance | $ 113,495 | $ 116,174 |
Financed sales of manufactured homes | 341 | 14,237 |
Principal payments and payoffs from our customers | (8,710) | (8,966) |
Principal reduction from repossessed homes | (8,901) | (7,950) |
Total activity | (17,270) | (2,679) |
Ending balance | $ 96,225 | $ 113,495 |
Allowance for collateralized an
Allowance for collateralized and installment notes receivable (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Allowance for Loan and Lease Losses [Roll Forward] | ||
Allowance for Loan and Lease Losses, Adjustments, Other | $ (587) | $ 0 |
Collateralized receivables, net and Installment Notes Receivables on Manufactured Homes [Member] | ||
Allowance for Loan and Lease Losses [Roll Forward] | ||
Beginning balance | (697) | (377) |
Allowance for Loan and Lease Losses, Write-offs | 203 | 678 |
Allowance for Loan and Lease Losses, Adjustments, Other | (151) | (998) |
Total activity | 52 | (320) |
Ending balance | $ (645) | $ (697) |
Other receivables, Narrative (D
Other receivables, Narrative (Details) - USD ($) $ in Thousands | Dec. 31, 2019 | Sep. 30, 2019 | Dec. 31, 2018 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Other receivables for rent, water, sewer usage | $ 7,800 | $ 7,100 | |
Allowance for rent, water, sewer usage receivables | (2,200) | (1,500) | |
Home sale proceeds | 20,900 | ||
Insurance receivables | 9,900 | 24,100 | |
Notes and other receivables, net | 157,926 | $ 157,926 | 160,077 |
Installment notes receivable on manufactured homes, net [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Notes and other receivables, net | 112,798 | ||
Reported Value Measurement [Member] | Installment notes receivable on manufactured homes, net [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Notes and other receivables, net | 19,000 | $ 112,798 | |
Other Receivables | $ 4,800 |
Intangible Assets Schedule of F
Intangible Assets Schedule of Finite-Lived Intangible Assets (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | 12 Months Ended | |
Mar. 31, 2019 | Sep. 30, 2019 | Dec. 31, 2019 | Dec. 31, 2018 | |
Acquired Finite-Lived Intangible Assets [Line Items] | ||||
Finite-Lived Intangible Assets, Gross | $ 144,256 | $ 120,188 | ||
Finite-Lived Intangible Assets, Accumulated Amortization | (76,740) | (61,010) | ||
Leases, Acquired-in-Place [Member] | ||||
Acquired Finite-Lived Intangible Assets [Line Items] | ||||
Finite-Lived Intangible Asset, Useful Life | 7 years | |||
Finite-Lived Intangible Assets, Gross | 127,313 | 103,547 | ||
Finite-Lived Intangible Assets, Accumulated Amortization | (73,980) | (59,068) | ||
Franchise Rights [Member] | ||||
Acquired Finite-Lived Intangible Assets [Line Items] | ||||
Finite-Lived Intangible Assets, Gross | 16,943 | 16,641 | ||
Finite-Lived Intangible Assets, Accumulated Amortization | $ (2,760) | $ (1,942) | ||
Minimum [Member] | ||||
Acquired Finite-Lived Intangible Assets [Line Items] | ||||
Finite-Lived Intangible Asset, Useful Life | 7 years | |||
Minimum [Member] | Ground Lease [Member] | ||||
Acquired Finite-Lived Intangible Assets [Line Items] | ||||
Finite-Lived Intangible Asset, Useful Life | 7 years | |||
Maximum [Member] | ||||
Acquired Finite-Lived Intangible Assets [Line Items] | ||||
Finite-Lived Intangible Asset, Useful Life | 20 years | |||
Maximum [Member] | Ground Lease [Member] | ||||
Acquired Finite-Lived Intangible Assets [Line Items] | ||||
Finite-Lived Intangible Asset, Useful Life | 20 years |
Intangible Assets Schedule of_2
Intangible Assets Schedule of Intangible Asset Amortization Expense (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Schedule of Finite-Lived Intangible Assets, Amortization Expense [Line Items] | |||
Amortization of Intangible Assets | $ 15,730 | $ 13,420 | $ 14,113 |
Leases, Acquired-in-Place [Member] | |||
Schedule of Finite-Lived Intangible Assets, Amortization Expense [Line Items] | |||
Amortization of Intangible Assets | 14,912 | 12,913 | 13,812 |
Franchise Rights [Member] | |||
Schedule of Finite-Lived Intangible Assets, Amortization Expense [Line Items] | |||
Amortization of Intangible Assets | $ 818 | $ 507 | $ 301 |
Intangible Assets Future Amorti
Intangible Assets Future Amortization Expense (Details) - USD ($) $ in Thousands | Dec. 31, 2019 | Sep. 30, 2019 |
Intangible Assets Disclosure [Abstract] | ||
Finite-Lived Intangible Assets, Amortization Expense, Next Twelve Months | $ 15,522 | |
Finite-Lived Intangible Assets, Amortization Expense, Year Three | $ 15,130 | |
Finite-Lived Intangible Assets, Amortization Expense, Year Four | 10,529 | |
Finite-Lived Intangible Assets, Amortization Expense, Year Four | 7,154 | |
Finite-Lived Intangible Assets, Amortization Expense, Year Five | $ 4,791 |
Investment In Affiliates , Narr
Investment In Affiliates , Narrative (Details) - USD ($) $ in Thousands | 9 Months Ended | 12 Months Ended | ||||
Sep. 30, 2019 | Sep. 30, 2018 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | Mar. 31, 2019 | |
Schedule of Equity Method Investments [Line Items] | ||||||
Investment carrying value | $ 34,800 | $ 30,600 | ||||
Income (Loss) from Equity Method Investments | $ 1,374 | $ 790 | $ 1,374 | 790 | $ 0 | |
RezPlot [Member] | ||||||
Schedule of Equity Method Investments [Line Items] | ||||||
Ownership percentage | 50.00% | |||||
Investment carrying value | $ 4,200 | 0 | ||||
Income (Loss) from Equity Method Investments | (1,344) | 0 | ||||
Sungenia JV [Member] | ||||||
Schedule of Equity Method Investments [Line Items] | ||||||
Ownership percentage | 50.00% | |||||
Investment carrying value | $ 12,000 | 700 | ||||
Income (Loss) from Equity Method Investments | (290) | 0 | ||||
GTSC [Member] | ||||||
Schedule of Equity Method Investments [Line Items] | ||||||
Ownership percentage | 40.00% | |||||
Equity Method Investment, Ownership Percentage, Unrelated Third Party | 40.00% | |||||
Investment carrying value | $ 18,500 | $ 29,800 | ||||
Income (Loss) from Equity Method Investments | 2,803 | 604 | ||||
Origen Financial Services [Member] | ||||||
Schedule of Equity Method Investments [Line Items] | ||||||
Ownership percentage | 22.90% | |||||
Equity Method Investment, Ownership Percentage, Unrelated Third Party | 22.90% | |||||
Investment carrying value | $ 100 | $ 100 | ||||
Income (Loss) from Equity Method Investments | $ 205 | $ 186 |
Consolidated Variable Interes_3
Consolidated Variable Interest Entities Consolidated Variable Interest Entities (Details) - USD ($) $ in Thousands | Dec. 31, 2019 | Sep. 30, 2019 | Mar. 31, 2019 | Dec. 31, 2018 |
Variable Interest Entity [Line Items] | ||||
Investment property, net | $ 7,232,620 | $ 7,232,620 | $ 6,118,316 | |
Other assets | 219,896 | $ 219,896 | 164,211 | |
Variable Interest Entity, Consolidated, Carrying Amount, Assets | 368,194 | 327,980 | ||
Secured debt | 3,180,592 | $ 3,200,000 | 2,815,957 | |
Other liabilities | 81,289 | 51,581 | ||
Liabilities | 3,848,104 | 3,479,112 | ||
Consolidated variable interest entities | $ 8,542 | $ 7,145 | ||
VIE Percent of Consolidated Assets | 4.70% | 4.90% | ||
VIE Percent of Consolidated Liabilities | 2.50% | 2.60% | ||
VIE as a Percentage of Total Equity | 1.00% | |||
Variable Interest Entity, Primary Beneficiary [Member] | ||||
Variable Interest Entity [Line Items] | ||||
Investment property, net | $ 344,300 | $ 308,171 | ||
Other assets | 23,894 | 19,809 | ||
Secured debt | 46,993 | 44,172 | ||
Preferred OP units - mandatorily redeemable | 35,249 | 35,277 | ||
Other liabilities | 13,631 | 6,914 | ||
Liabilities | 95,873 | 86,363 | ||
Equity Interests | 27,091 | 21,976 | ||
Consolidated variable interest entities | 8,542 | 7,145 | ||
Variable Interest Entities, Consolidated, Total Liabilities and Stockholder's Equity | $ 131,506 | $ 115,484 |
Debt And Lines Of Credit , Tabl
Debt And Lines Of Credit , Table - Schedule of debt and lines of credit (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||
Mar. 31, 2019 | Sep. 30, 2019 | Sep. 30, 2018 | Dec. 31, 2019 | Dec. 31, 2018 | |
Debt Instrument [Line Items] | |||||
Secured debt | $ 3,200,000 | $ 3,180,592 | $ 2,815,957 | ||
Debt weighted average to maturity, years | 11 years 1 month 6 days | 9 years | |||
Weighted average interest rate | 4.00% | 4.50% | |||
Lines of credit | 183,898 | $ 128,000 | |||
Collateralized term loans - CMBS [Member] | |||||
Debt Instrument [Line Items] | |||||
Secured debt | $ 697,589 | $ 405,702 | |||
Debt weighted average to maturity, years | 7 years | 4 years 1 month 6 days | |||
Weighted average interest rate | 3.70% | 5.10% | |||
Aspen and Series B-3 Preferred OP Units [Member] | |||||
Debt Instrument [Line Items] | |||||
Secured debt | 34,663 | ||||
Preferred OP units - mandatorily redeemable | 34,663 | $ 37,338 | |||
Debt weighted average to maturity, years | 0 years | 4 years 8 months 12 days | |||
Weighted average interest rate | 0.00% | 6.60% | |||
Preferred Equity, Mandatorily Redeemable [Member] | |||||
Debt Instrument [Line Items] | |||||
Preferred OP units - mandatorily redeemable | 35,249 | $ 35,277 | |||
Debt Instrument, Term | 2 years 9 months 18 days | ||||
Debt weighted average to maturity, years | 3 years 9 months 18 days | ||||
Weighted average interest rate | 6.00% | 6.00% | |||
Secured Debt [Member] | |||||
Debt Instrument [Line Items] | |||||
Secured debt | $ 3,434,402 | $ 3,124,303 | |||
Debt Instrument, Term | 25 years | 10 years | 20 years | 21 years | 20 years |
Reported Value Measurement [Member] | Secured Debt [Member] | |||||
Debt Instrument [Line Items] | |||||
Secured debt | $ 0 | $ 0 | $ 107,731 | ||
Debt weighted average to maturity, years | 4 years | 14 years 4 months 24 days | |||
Weighted average interest rate | 6.50% | 9.90% | |||
Federal National Mortgage Association Certificates and Obligations (FNMA) [Member] | |||||
Debt Instrument [Line Items] | |||||
Secured debt | $ 374,727 | $ 770,417 | |||
Debt weighted average to maturity, years | 4 years 10 months 24 days | 5 years 1 month 6 days | |||
Weighted average interest rate | 3.90% | 4.40% | |||
Federal Home Loan Mortgage Corporation Certificates and Obligations (FHLMC) [Member] | |||||
Debt Instrument [Line Items] | |||||
Secured debt | $ 397,868 | $ 380,680 | |||
Debt weighted average to maturity, years | 3 years 1 month 6 days | 5 years 10 months 24 days | |||
Weighted average interest rate | 5.10% | 3.90% | |||
Life Companies [Member] | Collateralized Mortgage Backed Securities [Member] | |||||
Debt Instrument [Line Items] | |||||
Secured debt | $ 1,710,408 | $ 1,259,158 | |||
Debt weighted average to maturity, years | 17 years 1 month 6 days | 14 years 4 months 24 days | |||
Weighted average interest rate | 4.00% | 3.90% | |||
Revolving Credit Facility [Member] | |||||
Debt Instrument [Line Items] | |||||
Lines of credit | $ 183,898 | ||||
Revolving Credit Facility [Member] | Line of Credit [Member] | |||||
Debt Instrument [Line Items] | |||||
Debt weighted average to maturity, years | 3 years 6 months | 2 years 3 months 18 days | |||
Weighted average interest rate | 2.70% | 3.80% | |||
Revolving Credit Facility [Member] | Secured Debt [Member] | |||||
Debt Instrument [Line Items] | |||||
Lines of credit | $ 180,600 |
Debt And Lines Of Credit , Narr
Debt And Lines Of Credit , Narrative - Collateralized Term Loans (Details) | 3 Months Ended | 6 Months Ended | 9 Months Ended | 12 Months Ended | ||||||||
Mar. 31, 2019USD ($)siteRate | Mar. 31, 2018USD ($)Enc_Community_Released | Jun. 30, 2018USD ($)Enc_Community_Released | Sep. 30, 2019USD ($)Rate | Sep. 30, 2018USD ($)Enc_Community_Released | Dec. 31, 2019USD ($)siteEnc_Community_Released | Dec. 31, 2018USD ($)propertiessiteRate | Dec. 31, 2017USD ($) | Dec. 31, 2019sites | Dec. 31, 2019USD ($) | Dec. 31, 2019 | Dec. 31, 2019Rate | |
Debt Instrument [Line Items] | ||||||||||||
Reduction in secured borrowing balance | $ 107,731,000 | $ 21,451,000 | $ 23,449,000 | |||||||||
Repayments of Lines of Credit | 3,883,950,000 | $ 1,456,486,000 | 719,536,000 | |||||||||
Weighted average interest rate | Rate | 4.00% | 4.50% | ||||||||||
Debt weighted average to maturity, length | 11 years 1 month 6 days | 9 years | ||||||||||
Loss on extinguishment of debt | $ 16,505,000 | $ 1,190,000 | $ 4,676,000 | |||||||||
Secured debt | $ 3,200,000,000 | $ 2,815,957,000 | $ 3,180,592,000 | |||||||||
Number of Units in Real Estate Property | 10,390 | 4,882 | 141,293 | |||||||||
Long-term Line of Credit | $ 128,000,000 | 183,898,000 | ||||||||||
Secured Debt [Member] | ||||||||||||
Debt Instrument [Line Items] | ||||||||||||
Debt Instrument, Face Amount | $ 265,000,000 | $ 250,000,000 | $ 228,000,000 | $ 21,700,000 | 400,000,000 | |||||||
Stated interest rate | 4.17% | 2.925% | 4.10% | 4.10% | 4.026% | |||||||
Secured debt | $ 3,124,303,000 | $ 3,434,402,000 | ||||||||||
Debt Instrument, Term | 25 years | 10 years | 20 years | 21 years | 20 years | |||||||
Commercial Mortgage Backed Securities [Member] | ||||||||||||
Debt Instrument [Line Items] | ||||||||||||
Weighted average interest rate | Rate | 3.70% | 5.10% | ||||||||||
Debt weighted average to maturity, length | 7 years | 4 years 1 month 6 days | ||||||||||
Secured debt | $ 697,589,000 | $ 405,702,000 | ||||||||||
Collateralized Mortgage Backed Securities [Member] | ||||||||||||
Debt Instrument [Line Items] | ||||||||||||
Pledged Assets, Not Separately Reported, Real Estate | $ 3,300,000,000 | |||||||||||
Manufactured home community [Member] | ||||||||||||
Debt Instrument [Line Items] | ||||||||||||
Number of Units in Real Estate Property | sites | 93,821 | |||||||||||
Properties securing debt [Member] | Collateralized Mortgage Backed Securities [Member] | ||||||||||||
Debt Instrument [Line Items] | ||||||||||||
Number of properties securing a debt instument (in properties) | properties | 188 | |||||||||||
Number of Units in Real Estate Property | site | 74,170 | |||||||||||
Matures March 1, 2020, 5.62 Percent Interest Rate [Member] | Secured Debt [Member] | ||||||||||||
Debt Instrument [Line Items] | ||||||||||||
Reduction in secured borrowing balance | $ 17,000,000 | |||||||||||
Loss on extinguishment of debt | 0 | |||||||||||
Debt Instrument, Interest Rate, Effective Percentage | Rate | 5.62% | |||||||||||
Federal National Mortgage Association Certificates and Obligations (FNMA) [Member] | ||||||||||||
Debt Instrument [Line Items] | ||||||||||||
Weighted average interest rate | Rate | 3.90% | 4.40% | ||||||||||
Debt weighted average to maturity, length | 4 years 10 months 24 days | 5 years 1 month 6 days | ||||||||||
Secured debt | $ 374,727,000 | $ 770,417,000 | ||||||||||
Federal Home Loan Mortgage Corporation Certificates and Obligations (FHLMC) [Member] | ||||||||||||
Debt Instrument [Line Items] | ||||||||||||
Weighted average interest rate | Rate | 5.10% | 3.90% | ||||||||||
Debt weighted average to maturity, length | 3 years 1 month 6 days | 5 years 10 months 24 days | ||||||||||
Secured debt | $ 397,868,000 | $ 380,680,000 | ||||||||||
Matures November 1, 2021, 5.10 Percent Interest Rate [Member] | Secured Debt [Member] | ||||||||||||
Debt Instrument [Line Items] | ||||||||||||
Reduction in secured borrowing balance | 127,300 | |||||||||||
Loss on extinguishment of debt | (3,200,000) | |||||||||||
Debt Instrument, Interest Rate, Effective Percentage | Rate | 5.10% | |||||||||||
Matures March 1 and April 1, 2020, 6.24 Percent Interest Rate [Member] | Secured Debt [Member] | ||||||||||||
Debt Instrument [Line Items] | ||||||||||||
Reduction in secured borrowing balance | $ 21,500,000 | |||||||||||
Number of Real Estate Units Released | Enc_Community_Released | 3,000 | |||||||||||
Loss on extinguishment of debt | $ 200,000 | |||||||||||
Debt Instrument, Interest Rate, Effective Percentage | Rate | 6.24% | |||||||||||
Matures May 1, 2023, 4.3 Percent Interest Rate [Member] | Secured Debt [Member] | ||||||||||||
Debt Instrument [Line Items] | ||||||||||||
Reduction in secured borrowing balance | $ 134,000,000 | |||||||||||
Loss on extinguishment of debt | $ (12,800,000) | |||||||||||
Debt Instrument, Interest Rate, Effective Percentage | Rate | 4.30% | |||||||||||
Matures January 1, 2030, 3.83 Percent Interest Rate [Member] | Secured Debt [Member] | ||||||||||||
Debt Instrument [Line Items] | ||||||||||||
Reduction in secured borrowing balance | $ 186,800,000 | |||||||||||
Loss on extinguishment of debt | $ (700,000) | |||||||||||
Debt Instrument, Interest Rate, Effective Percentage | Rate | 3.83% | |||||||||||
Matures February 28, 2019, 5.66 Percent Interest Rate [Member] | Secured Debt [Member] | ||||||||||||
Debt Instrument [Line Items] | ||||||||||||
Reduction in secured borrowing balance | 10,200,000 | |||||||||||
Loss on extinguishment of debt | $ 0 | |||||||||||
Debt Instrument, Interest Rate, Effective Percentage | Rate | 5.66% | |||||||||||
Matures March 1, 2019, 6.34 Percent Interest Rate [Member] | Secured Debt [Member] | ||||||||||||
Debt Instrument [Line Items] | ||||||||||||
Reduction in secured borrowing balance | $ 30,500,000 | |||||||||||
Number of Real Estate Units Released | Enc_Community_Released | 1,000 | |||||||||||
Loss on extinguishment of debt | $ (900,000) | |||||||||||
Debt Instrument, Interest Rate, Effective Percentage | Rate | 6.34% | |||||||||||
Matures May 1, 2023, 4.53 Percent Interest Rate [Member] | Secured Debt [Member] | ||||||||||||
Debt Instrument [Line Items] | ||||||||||||
Reduction in secured borrowing balance | $ 177,700,000 | |||||||||||
Number of Real Estate Units Released | Enc_Community_Released | 11,000 | |||||||||||
Loss on extinguishment of debt | $ (1,500,000) | |||||||||||
Debt Instrument, Interest Rate, Effective Percentage | Rate | 4.53% | |||||||||||
Matures March 1, 2019, 6.36 Percent Interest Rate [Member] | Secured Debt [Member] | ||||||||||||
Debt Instrument [Line Items] | ||||||||||||
Reduction in secured borrowing balance | $ 24,400,000 | |||||||||||
Number of Real Estate Units Released | Enc_Community_Released | 3,000 | |||||||||||
Loss on extinguishment of debt | $ (200,000) | |||||||||||
Debt Instrument, Interest Rate, Effective Percentage | Rate | 6.36% |
Debt And Lines Of Credit , Na_2
Debt And Lines Of Credit , Narrative - Aspen Preferred OP Units and Series B-3 preferred OP units (Details) $ / shares in Units, $ in Thousands | 1 Months Ended | 9 Months Ended | 12 Months Ended | ||||
Jan. 31, 2019USD ($)$ / sharesshares | Jun. 30, 2018USD ($) | Sep. 30, 2019USD ($)shares | Dec. 31, 2019USD ($)$ / sharesRate | Mar. 31, 2019USD ($) | Dec. 31, 2018USD ($) | Sep. 30, 2018USD ($) | |
Debt Instrument [Line Items] | |||||||
Lines of credit | $ 183,898 | $ 128,000 | |||||
Financial Instruments Subject to Mandatory Redemption, Rate Of Return | 6.00% | ||||||
Financial Instruments Subject to Mandatory Redemption, Term | 7 years | ||||||
Secured Debt [Member] | |||||||
Debt Instrument [Line Items] | |||||||
Debt Instrument, Face Amount | $ 250,000 | 400,000 | $ 265,000 | 21,700 | $ 228,000 | ||
Preferred Equity, Mandatorily Redeemable [Member] | |||||||
Debt Instrument [Line Items] | |||||||
Financial Instruments Subject to Mandatory Redemption, Value of Shares Issued | $ 35,300 | ||||||
Preferred OP units - mandatorily redeemable | 35,249 | 35,277 | |||||
Aspen Preferred OP Units [Member] | |||||||
Debt Instrument [Line Items] | |||||||
Preferred OP units - mandatorily redeemable | $ 34,663 | 37,338 | |||||
Aspen Preferred OP Units [Member] | Convertible debt - Aspen Preferred OP Units January 2024 [Member] | |||||||
Debt Instrument [Line Items] | |||||||
Debt Instrument, Face Amount | $ 34,700 | ||||||
Debt Instrument, Convertible, Number of Equity Instruments | shares | 407,190 | ||||||
Conversion Price (in dollars per share) | $ / shares | $ 68 | ||||||
Debt Instrument, Basis Price in Stock Conversion Calculation | $ / shares | $ 27 | ||||||
Debt Instrument, Convertible, Percent Of Amount By Which The Market Price Of Common Stock Exceeds Threshold | 25.00% | ||||||
Debt Instrument, Interest Rate During Period | Rate | 6.50% | ||||||
Series B-3 Preferred OP Units | Convertible debt - Aspen Preferred OP Units January 2024 [Member] | |||||||
Debt Instrument [Line Items] | |||||||
Debt Instrument, Face Amount | $ 2,700 | ||||||
Common OP Units [Member] | Aspen Preferred OP Units [Member] | Convertible debt - Aspen Preferred OP Units January 2024 [Member] | |||||||
Debt Instrument [Line Items] | |||||||
Conversion Price (in dollars per share) | $ / shares | $ 0.397 | ||||||
Series B-3 Preferred OP Units | |||||||
Debt Instrument [Line Items] | |||||||
Stock Redeemed or Called During Period, Shares | shares | 26,750 | ||||||
Temporary Equity, Redemption Price Per Share Including Accrued and Unpaid Dividends | $ / shares | $ 100.153424 | ||||||
Stock Redeemed or Called During Period, Value | $ 2,700 |
Debt And Lines Of Credit , Na_3
Debt And Lines Of Credit , Narrative - Line of Credit (Details) - USD ($) | 9 Months Ended | 12 Months Ended | ||
Sep. 30, 2019 | Dec. 31, 2019 | Dec. 31, 2018 | Oct. 31, 2019 | |
Line of Credit Facility [Line Items] | ||||
Lines of credit | $ 183,898,000 | $ 128,000,000 | ||
Long-term Debt | 3,442,282 | |||
Weighted average interest rate | 4.00% | 4.50% | ||
Debt weighted average to maturity, length | 11 years 1 month 6 days | 9 years | ||
Line of credit - manufactured home floor plan facility [Member] | ||||
Line of Credit Facility [Line Items] | ||||
Line of credit, borrowing capacity | 12,000,000 | |||
Lines of credit | $ 3,300,000 | $ 0 | ||
Line of Credit [Member] | ||||
Line of Credit Facility [Line Items] | ||||
Line of Credit Facility, Current Borrowing Capacity | 750,000,000 | |||
Line of credit, borrowing capacity | 1,100,000,000 | |||
Line of credit facility, additional borrowing capacity | 350,000,000 | |||
Letters of credit outstanding, amount | $ 2,800,000 | $ 3,900,000 | ||
Long-term Debt | $ 183,898 | |||
Prime Rate [Member] | Line of credit - manufactured home floor plan facility [Member] | ||||
Line of Credit Facility [Line Items] | ||||
Basis points | 10000.00% | |||
Term Loan [Member] | ||||
Line of Credit Facility [Line Items] | ||||
Line of credit, borrowing capacity | $ 100,000,000 | |||
Long-term Debt | 0 | |||
Term Loan [Member] | Eurodollar [Member] | Line of Credit [Member] | ||||
Line of Credit Facility [Line Items] | ||||
Long-term Debt, Percentage Bearing Variable Interest, Percentage Rate | 1.20% | |||
Revolving Credit Facility [Member] | ||||
Line of Credit Facility [Line Items] | ||||
Line of credit, borrowing capacity | 650,000,000 | |||
Lines of credit | 183,898,000 | |||
Long-term Debt | $ 123,600,000 | |||
Revolving Credit Facility [Member] | Line of Credit [Member] | ||||
Line of Credit Facility [Line Items] | ||||
Weighted average interest rate | 2.70% | 3.80% | ||
Debt weighted average to maturity, length | 3 years 6 months | 2 years 3 months 18 days | ||
Revolving Credit Facility [Member] | Term Loan [Member] | ||||
Line of Credit Facility [Line Items] | ||||
Lines of credit | $ 57,000,000 | $ 58,000,000 | ||
Revolving Credit Facility [Member] | Eurodollar [Member] | Line of Credit [Member] | ||||
Line of Credit Facility [Line Items] | ||||
Long-term Debt, Percentage Bearing Variable Interest, Percentage Rate | 1.20% | |||
Minimum [Member] | Term Loan [Member] | Eurodollar [Member] | Line of Credit [Member] | ||||
Line of Credit Facility [Line Items] | ||||
Debt Instrument, Interest Rate, Effective Percentage | 120.00% | |||
Minimum [Member] | Revolving Credit Facility [Member] | Eurodollar [Member] | Line of Credit [Member] | ||||
Line of Credit Facility [Line Items] | ||||
Debt Instrument, Interest Rate, Effective Percentage | 120.00% | |||
Maximum [Member] | Prime Rate [Member] | Line of credit - manufactured home floor plan facility [Member] | ||||
Line of Credit Facility [Line Items] | ||||
Debt Instrument, Interest Rate, Effective Percentage | 7.00% | 6.00% | ||
Maximum [Member] | Term Loan [Member] | Eurodollar [Member] | Line of Credit [Member] | ||||
Line of Credit Facility [Line Items] | ||||
Debt Instrument, Interest Rate, Effective Percentage | 205.00% | |||
Maximum [Member] | Revolving Credit Facility [Member] | Eurodollar [Member] | Line of Credit [Member] | ||||
Line of Credit Facility [Line Items] | ||||
Debt Instrument, Interest Rate, Effective Percentage | 210.00% | |||
GTSC [Member] | ||||
Line of Credit Facility [Line Items] | ||||
Line of credit, borrowing capacity | $ 125,000,000 | |||
Long-term Debt | $ 49,400,000 | |||
Equity Method Investment, Ownership Percentage | 40.00% | |||
GTSC [Member] | ||||
Line of Credit Facility [Line Items] | ||||
Long-term Debt | $ 123,400,000 | |||
GTSC [Member] | London Interbank Offered Rate (LIBOR) [Member] | ||||
Line of Credit Facility [Line Items] | ||||
Basis points | 1.65% |
Debt And Lines Of Credit , Ta_2
Debt And Lines Of Credit , Table - Maturities and Amortization of debt and lines of credit (Details) - USD ($) | Dec. 31, 2019 | Mar. 31, 2019 |
Debt Instrument [Line Items] | ||
Total Due | $ 3,442,282 | |
2015 | 90,519 | |
2016 | 222,544 | |
2017 | 188,730 | |
2018 | 396,827 | |
2019 | 407,076 | |
Thereafter | 2,136,586 | |
Lines of Credit [Member] | ||
Debt Instrument [Line Items] | ||
Total Due | 183,898 | |
2015 | $ 10,000 | |
2016 | 13,293 | |
2017 | 10,000 | |
2018 | 150,605 | |
2019 | 0 | |
Thereafter | 0 | |
Mortgage maturities [Member] | ||
Debt Instrument [Line Items] | ||
Total Due | 2,161,615 | |
2015 | 19,796 | |
2016 | 148,378 | |
2017 | 82,155 | |
2018 | 185,618 | |
2019 | 315,331 | |
Thereafter | 1,410,337 | |
Mortgage principal amortization [Member] | ||
Debt Instrument [Line Items] | ||
Total Due | 1,026,857 | |
2015 | 60,723 | |
2016 | 60,873 | |
2017 | 61,326 | |
2018 | 60,604 | |
2019 | 57,082 | |
Thereafter | 726,249 | |
Preferred Equity, Mandatorily Redeemable [Member] | ||
Debt Instrument [Line Items] | ||
Total Due | 34,663 | |
2015 | 0 | |
2016 | 0 | |
2017 | 0 | |
2018 | 0 | |
2019 | 34,663 | |
Thereafter | 0 | |
Sun NG RV Resorts [Member] | Preferred Equity, Mandatorily Redeemable [Member] | ||
Debt Instrument [Line Items] | ||
Total Due | $ 35,249 | |
2015 | 0 | |
2016 | 0 | |
2017 | 35,249 | |
2018 | 0 | |
2019 | 0 | |
Thereafter | $ 0 |
Equity Transactions Narrative (
Equity Transactions Narrative (Details) - USD ($) $ / shares in Units, $ in Thousands | Oct. 15, 2019 | Feb. 14, 2019 | Feb. 21, 2019 | Dec. 31, 2019 | Sep. 30, 2019 | Jun. 30, 2019 | Mar. 31, 2019 | Jun. 30, 2018 | Jun. 30, 2017 | Mar. 31, 2017 | Jun. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2018 |
Class of Stock [Line Items] | |||||||||||||||||
Stock Issued During Period, Value, New Issues | $ 33,600 | $ 21,200 | $ 92,600 | $ 39,400 | $ 29,700 | $ 163,800 | |||||||||||
New shares issued (in shares) | 3,737,500 | 400,000,000 | 280,502 | 1,008,699 | 398,516 | 458,541 | 321,800 | ||||||||||
Aggregate Value of Shares to be Issued in Accordance to Sales Agreement | $ 450,000 | ||||||||||||||||
Commission, Maximum Percentage of Gross Sales Price Per Share According to Sales Agreement | 200.00% | ||||||||||||||||
Proceeds from issuance of common stock | $ 452,100 | ||||||||||||||||
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares | 1,972,876 | ||||||||||||||||
Dividends per common share: | $ 2.96 | $ 2.80 | $ 2.66 | ||||||||||||||
Cash, proceeds from dispositions held in escrow, or contingent liability | $ 853,682 | ||||||||||||||||
Subsequent Event [Member] | |||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||
Cash, proceeds from dispositions held in escrow, or contingent liability | $ 13,500 | ||||||||||||||||
Series D Preferred OP Units [Member] | |||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||
Temporary Equity, Shares Issued | 488,958 | ||||||||||||||||
Temporary Equity, Issuance Price | $ 100 | ||||||||||||||||
Temporary Equity, Dividends For Term One, Percentage | 3.75% | ||||||||||||||||
Temporary Equity, Dividends, Percentage | 4.00% | ||||||||||||||||
Series D Preferred OP Units [Member] | Subsequent Event [Member] | |||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||
Temporary Equity, Dividends For Term One, Percentage | 5.30% | ||||||||||||||||
Temporary Equity, Dividends, Percentage | 5.50% | ||||||||||||||||
Common Stock [Member] | |||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||
Dividends per common share: | $ 0.75 | ||||||||||||||||
Common Stock [Member] | Subsequent Event [Member] | |||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||
Payments of Ordinary Dividends, Common Stock | $ 71,704 | ||||||||||||||||
Common OP Units [Member] | |||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||
Temporary Equity, Shares Issued | 180,277 | 180,277 | |||||||||||||||
Conversion of Common OP Units to common stock (in shares) | 180,277 | ||||||||||||||||
Series A-4 preferred OP units [Member] | |||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||
Conversion of Common OP Units to common stock (in shares) | 405,656 | ||||||||||||||||
Series A-4 Preferred Stock [Member] | |||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||
Temporary Equity, Shares Issued | 0 | 0 | 1,063,000 | 1,063,000 | |||||||||||||
Conversion of Common OP Units to common stock (in shares) | 1,031,747 | ||||||||||||||||
Temporary Equity, Dividends For Term One, Percentage | 6.50% | ||||||||||||||||
Jensen Communities [Domain] | Series D Preferred OP Units [Member] | |||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||
Cash, proceeds from dispositions held in escrow, or contingent liability | $ 389,697 | ||||||||||||||||
Jensen Communities [Domain] | Common OP Units [Member] | |||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares | 1,972,876 | ||||||||||||||||
Common Stock [Member] | |||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||
Stock Issued During Period, Value, New Issues | $ 58 | $ 66 | $ 63 | ||||||||||||||
Share Price | $ 115.39 | $ 115.39 | $ 87.24 | $ 87.24 | |||||||||||||
Series A-4 preferred OP units [Member] | |||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||
Conversion of Common OP Units to common stock (in shares) | 4,708 | 13,765 | |||||||||||||||
Series A-4 preferred OP units [Member] | Common OP Units [Member] | |||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||
Conversion of Common OP Units to common stock (in shares) | 2,092 | 6,116 | |||||||||||||||
Conversion of Stock, Shares Issued | 0.4444 | ||||||||||||||||
Series A-4 Preferred Stock [Member] | |||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||
Conversion of Common OP Units to common stock (in shares) | 1,062,789 | 22,576 | |||||||||||||||
Series A-4 Preferred Stock [Member] | Common OP Units [Member] | |||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||
Conversion of Common OP Units to common stock (in shares) | 472,366 | 10,033 | |||||||||||||||
Conversion of Stock, Shares Issued | 0.4444 | ||||||||||||||||
Series A-1 Preferred OP Units [Member] | |||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||
Conversion of Common OP Units to common stock (in shares) | 22,707 | 13,430 | |||||||||||||||
Series A-1 Preferred OP Units [Member] | Common OP Units [Member] | |||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||
Conversion of Common OP Units to common stock (in shares) | 55,370 | 32,752 | |||||||||||||||
Conversion of Stock, Shares Issued | 2.4390 | ||||||||||||||||
Conversion of Common OP Units [Member] | |||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||
Conversion of Common OP Units to common stock (in shares) | 485,629 | 20,608 | |||||||||||||||
Conversion of Common OP Units [Member] | Common OP Units [Member] | |||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||
Conversion of Common OP Units to common stock (in shares) | 485,629 | ||||||||||||||||
Conversion of Stock, Shares Issued | 1 | ||||||||||||||||
Forecast [Member] | Series D Preferred OP Units [Member] | |||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||
Convertible Preferred Stock, Shares Issued upon Conversion | 0.8 | ||||||||||||||||
Sun NG RV Resorts [Member] | NG Sun LLC [Member] | |||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||
Variable Interest Entity, Equity Interests Issued, Floating Rate | 5.00% | ||||||||||||||||
Common Stock [Member] | NG Sun Whitewater [Domain] | NG Sun Whitewater [Domain] | |||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||
Variable Interest Entity, Equity Interests Issued | $ 2,400 | ||||||||||||||||
Common Stock [Member] | Sun NG RV Resorts [Member] | NG Sun LLC [Member] | |||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||
Variable Interest Entity, Equity Interests Issued | $ 6,500 | ||||||||||||||||
Common Stock [Member] | Sun NG RV Resorts [Member] | Sun NG RV Resorts [Member] | |||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||
Variable Interest Entity, Equity Interests Issued | $ 15,400 |
Equity Transactions, Sale of Co
Equity Transactions, Sale of Common Stock (Details) - USD ($) $ / shares in Units, $ in Millions | 3 Months Ended | 6 Months Ended | 9 Months Ended | 12 Months Ended | 18 Months Ended | ||||
Jun. 30, 2019 | Jun. 30, 2017 | Mar. 31, 2017 | Jun. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | Dec. 31, 2019 | Dec. 31, 2017 | Dec. 31, 2018 | |
Class of Stock [Line Items] | |||||||||
Common stock issued | 3,737,500 | 400,000,000 | 280,502 | 1,008,699 | 398,516 | 458,541 | 321,800 | ||
Weighted average sales price | $ 85.01 | $ 76.47 | $ 100.19 | $ 93.33 | $ 92.98 | ||||
Net proceeds (in millions) | $ 33.6 | $ 21.2 | $ 92.6 | $ 39.4 | $ 29.7 | $ 163.8 | |||
Common OP Units [Member] | |||||||||
Class of Stock [Line Items] | |||||||||
Conversion of Common OP Units to common stock (in shares) | 180,277 | ||||||||
Conversion of Common OP Units [Member] | |||||||||
Class of Stock [Line Items] | |||||||||
Conversion of Common OP Units to common stock (in shares) | 485,629 | 20,608 | |||||||
Conversion of Common OP Units [Member] | Common OP Units [Member] | |||||||||
Class of Stock [Line Items] | |||||||||
Conversion of Stock, Shares Issued | 1 | ||||||||
Conversion of Common OP Units to common stock (in shares) | 485,629 | ||||||||
Series A-1 Preferred OP Units [Member] | |||||||||
Class of Stock [Line Items] | |||||||||
Conversion of Common OP Units to common stock (in shares) | 22,707 | 13,430 | |||||||
Series A-1 Preferred OP Units [Member] | Common OP Units [Member] | |||||||||
Class of Stock [Line Items] | |||||||||
Conversion of Stock, Shares Issued | 2.4390 | ||||||||
Conversion of Common OP Units to common stock (in shares) | 55,370 | 32,752 | |||||||
Series A-4 Preferred Op Units [Member] | |||||||||
Class of Stock [Line Items] | |||||||||
Conversion of Common OP Units to common stock (in shares) | 4,708 | 13,765 | |||||||
Series A-4 Preferred Op Units [Member] | Common OP Units [Member] | |||||||||
Class of Stock [Line Items] | |||||||||
Conversion of Stock, Shares Issued | 0.4444 | ||||||||
Conversion of Common OP Units to common stock (in shares) | 2,092 | 6,116 | |||||||
Series A-4 Preferred Stock [Member] | |||||||||
Class of Stock [Line Items] | |||||||||
Conversion of Common OP Units to common stock (in shares) | 1,062,789 | 22,576 | |||||||
Series A-4 Preferred Stock [Member] | Common OP Units [Member] | |||||||||
Class of Stock [Line Items] | |||||||||
Conversion of Stock, Shares Issued | 0.4444 | ||||||||
Conversion of Common OP Units to common stock (in shares) | 472,366 | 10,033 | |||||||
Series C preferred OP units [Member] | |||||||||
Class of Stock [Line Items] | |||||||||
Conversion of Common OP Units to common stock (in shares) | 4,014 | 1,919 | |||||||
Series C preferred OP units [Member] | Common OP Units [Member] | |||||||||
Class of Stock [Line Items] | |||||||||
Conversion of Stock, Shares Issued | 1.1100 | ||||||||
Conversion of Common OP Units to common stock (in shares) | 4,455 | 2,130 |
Share-Based Compensation , Narr
Share-Based Compensation , Narrative (Details) - USD ($) $ / shares in Units, $ in Millions | 3 Months Ended | 12 Months Ended | ||
Mar. 31, 2019 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Employee Service Share-based Compensation, Nonvested Awards, Expected Compensation Cost To Be Recognized In Next Twelve Months | $ 16.6 | |||
Share-based Compensation Expense | $ 17.5 | $ 15.1 | $ 12.7 | |
Vested in Period, Total Fair Value | 15.3 | $ 11.7 | $ 9.3 | |
Compensation Cost Not yet Recognized | $ 39 | |||
Employee Service Share-based Compensation, Nonvested Awards, Expected Compensation Cost To Be Recognized In Two Years | 11.3 | |||
Employee Service Share-based Compensation, Nonvested Awards, Expected Compensation Cost To Be Recognized In Three Years | 7.1 | |||
Employee Service Share-based Compensation, Nonvested Awards, Expected Compensation Cost To Be Recognized After Three Years | $ 4 | |||
Two Thousand Fifteen Equity Plan [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Number of Shares Available for Grant | 974,864 | |||
Number of Shares Authorized | 1,750,000 | |||
Director Plans [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Number of Shares Available for Grant | 191,774 | |||
Number of Shares Authorized | 375,000 | |||
2004 Non-employee Plan [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Additional Shares Authorized | 200,000 | |||
Restricted Stock [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Granted shares | 190,020 | 233,400 | 219,400 | |
Weighted Average Grant Date Fair Value | $ 87.12 | $ 117.47 | $ 79.38 | |
Restricted Stock [Member] | Two Thousand Fifteen Equity Plan [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Granted shares | 16,500 | |||
Weighted Average Grant Date Fair Value | $ 88.30 | |||
2004 Non-employee Plan [Member] | Share-based Payment Arrangement [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Outstanding options | 1,500 | |||
Executive Officer [Member] | Time Based [Member] | Two Thousand Fifteen Equity Plan [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Award Vesting Rights, Percentage | 20.00% | 20.00% | ||
Award Vesting Period | 5 years | 5 years | ||
Executive Officer [Member] | Restricted Stock [Member] | Two Thousand Fifteen Equity Plan [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Award Vesting Rights, Percentage | 100.00% | 100.00% | ||
Key Employees [Member] | Time Based [Member] | Two Thousand Fifteen Equity Plan [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Award Vesting Rights, Percentage | 20.00% | 20.00% | ||
Award Vesting Period | 5 years | 5 years | ||
Director [Member] | Restricted Stock [Member] | 2004 Non-employee Plan [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Granted shares | 18,000 | 16,800 | ||
Weighted Average Grant Date Fair Value | $ 113.68 | $ 85.28 | ||
Award Vesting Rights, Percentage | 100.00% | 100.00% | ||
Share-based Payment Arrangement, Tranche Two [Member] | Restricted Stock [Member] | Two Thousand Fifteen Equity Plan [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Granted shares | 50,100 | |||
Weighted Average Grant Date Fair Value | $ 86.97 | |||
Award Vesting Rights, Percentage | 35.00% | |||
Share-based Payment Arrangement, Tranche Three [Member] | Restricted Stock [Member] | Two Thousand Fifteen Equity Plan [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Award Vesting Rights, Percentage | 20.00% | |||
Share-based Compensation Award, Tranche Four [Member] | Restricted Stock [Member] | Two Thousand Fifteen Equity Plan [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Award Vesting Rights, Percentage | 5.00% | |||
Share-based Compensation Award, Tranche Five [Member] | Restricted Stock [Member] | Two Thousand Fifteen Equity Plan [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Award Vesting Rights, Percentage | 5.00% | |||
Share-based Payment Arrangement, Tranche One [Member] | Restricted Stock [Member] | Two Thousand Fifteen Equity Plan [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Award Vesting Rights, Percentage | 35.00% |
Share-Based Compensation - Non-
Share-Based Compensation - Non-employee Director Option Plan (Details) - $ / shares | 3 Months Ended | 12 Months Ended | ||
Mar. 31, 2019 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Share-based Compensation Arrangement By Share-based Payment Award, Fair Value Assumptions, Percent Expected To Vest | 75.10% | 74.80% | ||
Restricted Stock [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Granted shares | 190,020 | 233,400 | 219,400 | |
Weighted Average Grant Date Fair Value | $ 87.12 | $ 117.47 | $ 79.38 | |
Director Plans [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Number of Shares Authorized | 375,000 | |||
Number of Shares Available for Grant | 191,774 | |||
Two Thousand Fifteen Equity Plan [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Number of Shares Authorized | 1,750,000 | |||
Number of Shares Available for Grant | 974,864 | |||
Two Thousand Fifteen Equity Plan [Member] | Restricted Stock [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Granted shares | 16,500 | |||
Weighted Average Grant Date Fair Value | $ 88.30 | |||
Executive Officer [Member] | Two Thousand Fifteen Equity Plan [Member] | Restricted Stock [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Award Vesting Rights, Percentage | 100.00% | 100.00% | ||
Director [Member] | 2004 Non-employee Plan [Member] | Restricted Stock [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Granted shares | 18,000 | 16,800 | ||
Weighted Average Grant Date Fair Value | $ 113.68 | $ 85.28 | ||
Award Vesting Rights, Percentage | 100.00% | 100.00% | ||
Share-based Payment Arrangement, Tranche One [Member] | Two Thousand Fifteen Equity Plan [Member] | Restricted Stock [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Award Vesting Rights, Percentage | 35.00% | |||
Share-based Payment Arrangement, Tranche Two [Member] | Two Thousand Fifteen Equity Plan [Member] | Restricted Stock [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Granted shares | 50,100 | |||
Weighted Average Grant Date Fair Value | $ 86.97 | |||
Award Vesting Rights, Percentage | 35.00% | |||
Share-based Payment Arrangement, Tranche Three [Member] | Two Thousand Fifteen Equity Plan [Member] | Restricted Stock [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Award Vesting Rights, Percentage | 20.00% | |||
Share-based Compensation Award, Tranche Four [Member] | Two Thousand Fifteen Equity Plan [Member] | Restricted Stock [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Award Vesting Rights, Percentage | 5.00% | |||
Share-based Compensation Award, Tranche Five [Member] | Two Thousand Fifteen Equity Plan [Member] | Restricted Stock [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Award Vesting Rights, Percentage | 5.00% | |||
Time Based [Member] | Executive Officer [Member] | Two Thousand Fifteen Equity Plan [Member] | Restricted Stock [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Granted shares | 44,000 | 60,000 | ||
Weighted Average Grant Date Fair Value | $ 115.39 | $ 87.24 | ||
Market Condition [Member] | Executive Officer [Member] | Two Thousand Fifteen Equity Plan [Member] | Restricted Stock [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Granted shares | 66,000 | 90,000 | ||
Weighted Average Grant Date Fair Value | $ 115.39 | $ 65.24 | ||
Common Stock [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Share Price | $ 115.39 | $ 87.24 | ||
Award Date One [Member] | Key Employees [Member] | 2004 Non-employee Plan [Member] | Restricted Stock [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Granted shares | 55,770 | |||
Weighted Average Grant Date Fair Value | $ 120.01 | |||
Award Date Two [Member] | Key Employees [Member] | 2004 Non-employee Plan [Member] | Restricted Stock [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Granted shares | 6,250 | |||
Weighted Average Grant Date Fair Value | $ 142.48 |
Share-Based Compensation Restri
Share-Based Compensation Restricted Stock Activity (Details) - USD ($) $ / shares in Units, $ in Millions | 3 Months Ended | 12 Months Ended | ||||
Dec. 31, 2019 | Mar. 31, 2019 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Share-based Compensation Arrangement By Share-based Payment Award, Fair Value Assumptions, Percent Expected To Vest | 75.10% | 74.80% | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward] | ||||||
Share-based Compensation Expense | $ 17.5 | $ 15.1 | $ 12.7 | |||
Compensation Cost Not yet Recognized | $ 39 | 39 | ||||
Vested in Period, Total Fair Value | $ 15.3 | $ 11.7 | $ 9.3 | |||
Restricted Stock [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward] | ||||||
Weighted Average Grant Date Fair Value, Unvested | $ 85.43 | $ 72.65 | $ 85.43 | $ 64.25 | $ 56.38 | |
Unvested restricted shares | 871,117 | 859,853 | 841,634 | |||
Granted shares | 190,020 | 233,400 | 219,400 | |||
Weighted Average Grant Date Fair Value | $ 87.12 | $ 117.47 | $ 79.38 | |||
Vested in Period | (237,406) | (214,111) | (196,412) | |||
Weighted Average Grant Date Fair Value, Vested | 54.69 | $ 64.46 | $ 47.60 | |||
Forfeited in Period | (813,041) | (10,690) | (8,025) | (4,769) | ||
Weighted Average Exercise Price, Forfeitures | $ 72.16 | $ 79.58 | $ 56.43 | |||
Two Thousand Fifteen Equity Plan [Member] | Restricted Stock [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward] | ||||||
Granted shares | 16,500 | |||||
Weighted Average Grant Date Fair Value | $ 88.30 | |||||
Executive Officer [Member] | Two Thousand Fifteen Equity Plan [Member] | Restricted Stock [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward] | ||||||
Award Vesting Rights, Percentage | 100.00% | 100.00% | ||||
Share-based Payment Arrangement, Tranche One [Member] | Two Thousand Fifteen Equity Plan [Member] | Restricted Stock [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward] | ||||||
Award Vesting Rights, Percentage | 35.00% | |||||
Share-based Payment Arrangement, Tranche Two [Member] | Two Thousand Fifteen Equity Plan [Member] | Restricted Stock [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward] | ||||||
Granted shares | 50,100 | |||||
Weighted Average Grant Date Fair Value | $ 86.97 | |||||
Award Vesting Rights, Percentage | 35.00% | |||||
Share-based Payment Arrangement, Tranche Three [Member] | Two Thousand Fifteen Equity Plan [Member] | Restricted Stock [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward] | ||||||
Award Vesting Rights, Percentage | 20.00% | |||||
Share-based Compensation Award, Tranche Four [Member] | Two Thousand Fifteen Equity Plan [Member] | Restricted Stock [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward] | ||||||
Award Vesting Rights, Percentage | 5.00% | |||||
Share-based Compensation Award, Tranche Five [Member] | Two Thousand Fifteen Equity Plan [Member] | Restricted Stock [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward] | ||||||
Award Vesting Rights, Percentage | 5.00% | |||||
Common Stock [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Share Price | $ 115.39 | $ 115.39 | $ 87.24 | |||
Market Condition [Member] | Executive Officer [Member] | Two Thousand Fifteen Equity Plan [Member] | Restricted Stock [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward] | ||||||
Granted shares | 66,000 | 90,000 | ||||
Weighted Average Grant Date Fair Value | $ 115.39 | $ 65.24 |
Share-Based Compensation Stock
Share-Based Compensation Stock Option Activity (Details) - USD ($) $ / shares in Units, $ in Millions | 9 Months Ended | 12 Months Ended |
Sep. 30, 2019 | Dec. 31, 2019 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Issuance of common stock from exercise of options, net | $ 0.2 | |
Share-based Payment Arrangement [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Weighted Average Exercise Price, Options | $ 37.35 | |
Options, Exercisable, Weighted Average Remaining Contractual Term | 1 year 7 months 6 days | |
Options, Exercisable, Intrinsic Value | $ 0.1 | |
2004 Non-employee Plan [Member] | Share-based Payment Arrangement [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Outstanding options | 1,500 |
Segment Reporting (Details)
Segment Reporting (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | 12 Months Ended | |||||||||||
Dec. 31, 2019 | Sep. 30, 2019 | Jun. 30, 2019 | Mar. 31, 2019 | Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Segment Reporting Information [Line Items] | ||||||||||||||
Transient RV Revenue | $ 132,300 | $ 132,300 | ||||||||||||
Segment Reporting Information, Profit (Loss) [Abstract] | ||||||||||||||
Revenues | 301,819 | $ 362,443 | $ 312,445 | $ 287,330 | $ 274,003 | $ 323,413 | $ 271,434 | $ 257,975 | 1,264,037 | $ 1,126,825 | $ 982,570 | |||
Adjustments to arrive at net income (loss): | ||||||||||||||
Selling Expense | (14,690) | (15,722) | (12,457) | |||||||||||
General and Administrative Expense | (93,964) | (81,429) | (83,973) | |||||||||||
Loss from Catastrophes | (1,737) | (92) | (8,352) | |||||||||||
Loss on extinguishment of debt | (16,505) | (1,190) | (4,676) | |||||||||||
Interest on mandatorily redeemable debt | (4,698) | (3,694) | (3,114) | |||||||||||
Gain / (loss) on remeasurement of marketable securities | 34,240 | (3,639) | 0 | |||||||||||
Current tax expense | (1,095) | (595) | (446) | |||||||||||
Deferred tax (benefit) expense | 222 | 507 | 582 | |||||||||||
Other (expense) / income, net | 3,457 | (6,453) | 8,982 | |||||||||||
Income from nonconsolidated affiliates | (3,049) | 0 | 0 | |||||||||||
Income Tax Expense (Benefit) | 873 | 88 | ||||||||||||
Net income | $ 177,379 | $ 120,158 | 177,379 | 120,158 | 81,819 | |||||||||
Less: Preferred return to Series A-1 preferred OP units | (6,058) | (4,486) | (6,058) | (4,486) | (4,581) | |||||||||
Less: Amounts attributable to noncontrolling interests | (9,768) | (8,443) | (5,055) | |||||||||||
Less: Preferred stock distributions | (1,288) | (1,736) | (1,288) | (1,736) | (7,162) | |||||||||
Net income attributable to Sun Communities, Inc. | 28,547 | 57,002 | $ 40,385 | $ 34,331 | 9,039 | $ 46,060 | $ 20,408 | $ 29,986 | 161,553 | 107,229 | 161,553 | 107,229 | 72,183 | |
Net income attributable to Sun Communities, Inc. common stockholders | 160,265 | 105,493 | 160,265 | 105,493 | 65,021 | |||||||||
Identifiable assets: | ||||||||||||||
Investment property, net | 7,232,620 | 7,232,620 | 6,118,316 | 7,232,620 | 7,232,620 | 6,118,316 | ||||||||
Cash, cash equivalents and restricted cash | 34,830 | 34,830 | 62,262 | 34,830 | 34,830 | 62,262 | 23,509 | $ 25,313 | ||||||
Inventory of manufactured homes | 62,061 | 62,061 | 49,199 | 62,061 | 62,061 | 49,199 | ||||||||
Notes and other receivables, net | 157,926 | 157,926 | 160,077 | 157,926 | 157,926 | 160,077 | ||||||||
Collateralized receivables, net | 0 | 0 | 106,924 | 0 | 0 | 106,924 | ||||||||
Other assets | 219,896 | 219,896 | 164,211 | 219,896 | 219,896 | 164,211 | ||||||||
TOTAL ASSETS | 7,802,060 | 7,802,060 | 6,710,026 | 7,802,060 | 7,802,060 | 6,710,026 | ||||||||
Marketable securities | $ 94,727 | $ 94,727 | 49,037 | 94,727 | 94,727 | 49,037 | ||||||||
Real Property Operations Segment [Member] | ||||||||||||||
Segment Reporting Information [Line Items] | ||||||||||||||
Transient RV Rental Revenue Recognized, Percentage | 16.10% | 41.00% | 23.10% | 19.80% | ||||||||||
Segment Reporting Information, Profit (Loss) [Abstract] | ||||||||||||||
Revenues | 1,024,529 | 907,137 | 804,614 | |||||||||||
Adjustments to arrive at net income (loss): | ||||||||||||||
Net income | 197,096 | 142,116 | 105,491 | |||||||||||
Less: Preferred return to Series A-1 preferred OP units | (6,058) | (4,486) | (4,581) | |||||||||||
Less: Amounts attributable to noncontrolling interests | (10,659) | (9,512) | (6,319) | |||||||||||
Less: Preferred stock distributions | (1,288) | (1,736) | (7,162) | |||||||||||
Net income attributable to Sun Communities, Inc. | 180,379 | 128,118 | 94,591 | |||||||||||
Net income attributable to Sun Communities, Inc. common stockholders | 179,091 | 126,382 | 87,429 | |||||||||||
Identifiable assets: | ||||||||||||||
Investment property, net | $ 6,651,275 | 5,586,444 | 6,651,275 | 5,586,444 | ||||||||||
Cash, cash equivalents and restricted cash | (8,346) | 36,294 | (8,346) | 36,294 | ||||||||||
Inventory of manufactured homes | 0 | 0 | 0 | 0 | ||||||||||
Notes and other receivables, net | 142,509 | 145,673 | 142,509 | 145,673 | ||||||||||
Collateralized receivables, net | 0 | 106,924 | 0 | 106,924 | ||||||||||
Other assets | 167,804 | 128,076 | 167,804 | 128,076 | ||||||||||
TOTAL ASSETS | 7,047,969 | 6,052,448 | 7,047,969 | 6,052,448 | ||||||||||
Marketable securities | 94,727 | 49,037 | 94,727 | 49,037 | ||||||||||
Home Sales and Home Rentals Segment [Member] | ||||||||||||||
Segment Reporting Information, Profit (Loss) [Abstract] | ||||||||||||||
Revenues | 239,508 | 219,688 | 177,956 | |||||||||||
Adjustments to arrive at net income (loss): | ||||||||||||||
Net income | (19,717) | (21,958) | (23,672) | |||||||||||
Less: Preferred return to Series A-1 preferred OP units | 0 | 0 | 0 | |||||||||||
Less: Amounts attributable to noncontrolling interests | 891 | 1,069 | 1,264 | |||||||||||
Less: Preferred stock distributions | 0 | 0 | 0 | |||||||||||
Net income attributable to Sun Communities, Inc. | (18,826) | (20,889) | (22,408) | |||||||||||
Net income attributable to Sun Communities, Inc. common stockholders | (18,826) | (20,889) | (22,408) | |||||||||||
Identifiable assets: | ||||||||||||||
Investment property, net | 581,345 | 531,872 | 581,345 | 531,872 | ||||||||||
Cash, cash equivalents and restricted cash | 43,176 | 25,968 | 43,176 | 25,968 | ||||||||||
Inventory of manufactured homes | 62,061 | 49,199 | 62,061 | 49,199 | ||||||||||
Notes and other receivables, net | 15,417 | 14,404 | 15,417 | 14,404 | ||||||||||
Collateralized receivables, net | 0 | 0 | 0 | 0 | ||||||||||
Other assets | 52,092 | 36,135 | 52,092 | 36,135 | ||||||||||
TOTAL ASSETS | 754,091 | 657,578 | 754,091 | 657,578 | ||||||||||
Marketable securities | $ 0 | $ 0 | 0 | 0 | ||||||||||
Operating Segments [Member] | ||||||||||||||
Segment Reporting Information, Profit (Loss) [Abstract] | ||||||||||||||
Revenues | 1,232,053 | 1,099,768 | 957,696 | |||||||||||
Operating expenses/Cost of sales | 532,042 | 477,332 | 407,290 | |||||||||||
Net operating income/Gross profit | 700,011 | 622,436 | 550,406 | |||||||||||
Operating Segments [Member] | Real Property Operations Segment [Member] | ||||||||||||||
Segment Reporting Information, Profit (Loss) [Abstract] | ||||||||||||||
Revenues | 992,545 | 880,080 | 779,739 | |||||||||||
Operating expenses/Cost of sales | 375,690 | 330,695 | 290,016 | |||||||||||
Net operating income/Gross profit | 616,855 | 549,385 | 489,723 | |||||||||||
Operating Segments [Member] | Home Sales and Home Rentals Segment [Member] | ||||||||||||||
Segment Reporting Information, Profit (Loss) [Abstract] | ||||||||||||||
Revenues | 239,508 | 219,688 | 177,957 | |||||||||||
Operating expenses/Cost of sales | 156,352 | 146,637 | 117,274 | |||||||||||
Net operating income/Gross profit | 83,156 | 73,051 | 60,683 | |||||||||||
Segment Reconciling Items [Member] | ||||||||||||||
Adjustments to arrive at net income (loss): | ||||||||||||||
Other revenues | 31,984 | 27,057 | 24,874 | |||||||||||
Selling Expense | (14,690) | (15,722) | (12,457) | |||||||||||
General and Administrative Expense | (93,964) | (81,429) | (83,973) | |||||||||||
Loss from Catastrophes | (1,737) | (92) | (8,352) | |||||||||||
Depreciation and amortization | (328,067) | (287,262) | (261,536) | |||||||||||
Loss on extinguishment of debt | (16,505) | (1,190) | (4,676) | |||||||||||
Interest on mandatorily redeemable debt | (4,698) | (3,694) | (3,114) | |||||||||||
Interest expense | (133,153) | (130,556) | (128,471) | |||||||||||
Gain / (loss) on remeasurement of marketable securities | 34,240 | (3,639) | 0 | |||||||||||
Current tax expense | (1,095) | (595) | (446) | |||||||||||
Deferred tax (benefit) expense | 222 | 507 | 582 | |||||||||||
Other (expense) / income, net | 3,457 | (6,453) | 8,982 | |||||||||||
Gain (Loss) on Sale of Properties | 1,374 | 790 | ||||||||||||
Income from nonconsolidated affiliates | 0 | |||||||||||||
Segment Reconciling Items [Member] | Real Property Operations Segment [Member] | ||||||||||||||
Adjustments to arrive at net income (loss): | ||||||||||||||
Other revenues | 31,984 | 27,057 | 24,875 | |||||||||||
Selling Expense | 0 | 0 | 0 | |||||||||||
General and Administrative Expense | (82,320) | (70,512) | (74,548) | |||||||||||
Loss from Catastrophes | (1,729) | 140 | (7,856) | |||||||||||
Depreciation and amortization | (250,686) | (218,617) | (199,960) | |||||||||||
Loss on extinguishment of debt | (16,505) | (1,190) | (4,676) | |||||||||||
Interest on mandatorily redeemable debt | (4,698) | (3,694) | (3,114) | |||||||||||
Interest expense | (133,125) | (130,535) | (128,456) | |||||||||||
Gain / (loss) on remeasurement of marketable securities | 34,240 | (3,639) | 0 | |||||||||||
Current tax expense | (746) | (372) | (62) | |||||||||||
Deferred tax (benefit) expense | 222 | 507 | 582 | |||||||||||
Other (expense) / income, net | 3,604 | (6,414) | 8,983 | |||||||||||
Gain (Loss) on Sale of Properties | 0 | 0 | ||||||||||||
Income from nonconsolidated affiliates | 0 | |||||||||||||
Segment Reconciling Items [Member] | Home Sales and Home Rentals Segment [Member] | ||||||||||||||
Adjustments to arrive at net income (loss): | ||||||||||||||
Other revenues | 0 | 0 | (1) | |||||||||||
Selling Expense | (14,690) | (15,722) | (12,457) | |||||||||||
General and Administrative Expense | (11,644) | (10,917) | (9,425) | |||||||||||
Loss from Catastrophes | (8) | (232) | (496) | |||||||||||
Depreciation and amortization | (77,381) | (68,645) | (61,576) | |||||||||||
Loss on extinguishment of debt | 0 | 0 | 0 | |||||||||||
Interest on mandatorily redeemable debt | 0 | 0 | 0 | |||||||||||
Interest expense | (28) | (21) | (15) | |||||||||||
Gain / (loss) on remeasurement of marketable securities | 0 | 0 | 0 | |||||||||||
Current tax expense | (349) | (223) | (384) | |||||||||||
Deferred tax (benefit) expense | 0 | 0 | 0 | |||||||||||
Other (expense) / income, net | $ (147) | $ (39) | (1) | |||||||||||
Gain (Loss) on Sale of Properties | $ 1,374 | $ 790 | ||||||||||||
Income from nonconsolidated affiliates | $ 0 |
Income Taxes , Narrative (Detai
Income Taxes , Narrative (Details) - USD ($) | 3 Months Ended | 12 Months Ended | ||
Mar. 31, 2019 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Operating Loss Carryforwards [Line Items] | ||||
Ordinary Dividend Taxable, Percent | 98.8276% | |||
Minimum Percent of Income From Qualifying Sources to Allow For Real Estate Investment Trust Classification | 95.00% | |||
Operating Loss Carryforwards | $ 75,300,000 | |||
Operating Loss Carryforwards, After Tax | 15,600,000 | |||
Deferred Tax Assets, Operating Loss Carryforwards | 18,009,000 | $ 18,071,000 | ||
Unrecognized Tax Benefits | $ 0 | 0 | ||
Unrecognized Tax Benefits, Period Increase (Decrease) | 0 | |||
Required Minimum Percent of Taxable Income Distributed to Stock Holders | 90.00% | |||
Current | $ 919,000 | 701,000 | $ 700,000 | |
Tax Witholdings on Distributions from Investment | $ 200,000 | |||
Ordinary Tax Dividend, Percent Qualified Dividend | 1.1724% | |||
Federal | ||||
Operating Loss Carryforwards [Line Items] | ||||
Operating Loss Carryforwards | $ 73,000,000 | |||
Deferred Tax Assets, Operating Loss Carryforwards | $ 15,300,000 | |||
Foreign Tax Authority [Member] | ||||
Operating Loss Carryforwards [Line Items] | ||||
Operating Loss Carryforwards | 9,100,000 | |||
Deferred Tax Assets, Operating Loss Carryforwards | $ 2,400,000 |
Income Taxes Charaterization of
Income Taxes Charaterization of Distributions (Details) - $ / shares | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Income Tax Contingency [Line Items] | |||
Dividends per common share: | $ 2.96 | $ 2.80 | $ 2.66 |
Percent of Total Dividends Paid | 100.00% | 100.00% | 100.00% |
Ordinary Income [Member] | |||
Income Tax Contingency [Line Items] | |||
Dividends per common share: | $ 1.66 | $ 1.58 | $ 0.83 |
Percent of Total Dividends Paid | 56.00% | 56.40% | 31.20% |
Capital Gains [Member] | |||
Income Tax Contingency [Line Items] | |||
Dividends per common share: | $ 0 | $ 0.13 | $ 0 |
Percent of Total Dividends Paid | 0.00% | 4.80% | 0.00% |
Return of Capital [Member] | |||
Income Tax Contingency [Line Items] | |||
Dividends per common share: | $ 1.30 | $ 1.09 | $ 1.83 |
Percent of Total Dividends Paid | 44.00% | 38.80% | 68.80% |
Income Taxes, Components of Inc
Income Taxes, Components of Income Taxes (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Income Tax Disclosure [Abstract] | |||
Current | $ (3) | $ (102) | |
Current | 919 | 701 | $ 700 |
Deferred State and Local Income Tax Expense (Benefit) | 0 | 11 | |
Current | 179 | (4) | |
Deferred | (222) | (518) | |
Total (benefit) / provision | $ 873 | $ 88 |
Income Taxes Income Taxes, Rec
Income Taxes Income Taxes, Reconciliation of the Provision for Income Taxes (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Income Tax Disclosure [Abstract] | ||
Income (Loss) Attributable to Taxable Subsidiaries | $ (4,122) | $ (7,299) |
Effective Income Tax Rate Reconciliation at Federal Statutory Income Tax Rate, Amount | $ (866) | $ (1,534) |
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent | 21.00% | 21.00% |
Effective Income Tax Rate Reconciliation, State and Local Income Taxes, Amount | $ 42 | $ 0 |
Effective Income Tax Rate Reconciliation, State and Local Income Taxes, Percent | (1.00%) | 0.00% |
Effective Income Tax Rate Reconciliation, Alternative Minimum Tax, Amount | $ 0 | $ 0 |
Effective Income Tax Rate Reconciliation, Alternative Minimum Tax, Percent | 0.00% | 0.00% |
Effective Income Tax Rate Reconciliation, Change in Enacted Tax Rate, Amount | $ (73) | $ (112) |
Effective Income Tax Rate Reconciliation, Change in Enacted Tax Rate, Percent | 1.80% | 1.50% |
Effective Income Tax Rate Reconciliation, Change in Deferred Tax Assets Valuation Allowance, Amount | $ 526 | $ 2,885 |
Effective Income Tax Rate Reconciliation, Change in Deferred Tax Assets Valuation Allowance, Percent | (12.70%) | (39.50%) |
Effective Income Tax Rate Reconciliation, Change in Deferred Tax Assets, Amount | $ 0 | $ 0 |
Effective Income Tax Rate Reconciliation, Change in Deferred Tax Assets, Percent | 0.00% | 0.00% |
Effective Income Tax Rate Reconciliation, Other Reconciling Items, Amount | $ 692 | $ (1,576) |
Effective Income Tax Rate Reconciliation,Other Reconciling Items, Percent | (16.80%) | 21.60% |
Income Tax Expense (Benefit), Taxable Subsidiaries, Amount | $ 321 | $ (337) |
Income Tax Expense (Benefit), Taxable Subsidiaries, Percent | (7.70%) | 4.60% |
Income Tax Expense (Benefit), Other State Tax, Flow Through Subsidiaries | $ 552 | $ 425 |
Income Tax Expense (Benefit) | $ 873 | $ 88 |
Income Taxes Deferred Tax Asset
Income Taxes Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
Operating Loss Carryforwards [Line Items] | ||
Operating Loss Carryforwards | $ 75,300 | |
Deferred Tax Liabilities, Gross | 22,813 | $ 22,406 |
Deferred Tax Liabilities, Net | 20,964 | 20,228 |
Deferred Tax Assets, Net [Abstract] | ||
Deferred Tax Assets, Operating Loss Carryforwards | 18,009 | 18,071 |
Deferred Tax Assets, Real estate | 28,787 | 28,140 |
Deferred Tax Liabilities, Goodwill and Intangible Assets, Intangible Assets | 395 | 784 |
Deferred Tax Assets, Gross | 47,191 | 46,995 |
Deferred Tax Assets, Valuation Allowance | 45,342 | 44,817 |
Deferred Tax Assets, Net | 1,849 | 2,178 |
Deferred Tax Liabilities, Investments | 22,813 | $ 22,406 |
Federal | ||
Operating Loss Carryforwards [Line Items] | ||
Operating Loss Carryforwards | 73,000 | |
Deferred Tax Assets, Net [Abstract] | ||
Deferred Tax Assets, Operating Loss Carryforwards | $ 15,300 |
Earnings Per Share , Calculatio
Earnings Per Share , Calculation of Numerator and Denominator (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||||||||||
Dec. 31, 2019 | Sep. 30, 2019 | Jun. 30, 2019 | Mar. 31, 2019 | Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Numerator | |||||||||||||
Basic earnings: net income attributable to common stockholders | $ 160,265 | $ 105,493 | $ 160,265 | $ 105,493 | $ 65,021 | ||||||||
Income (loss) Attributable to Common Stockholders Allocable To Non Vested Restricted Shares | (1,170) | (831) | (455) | ||||||||||
Net income attributable to common shareholders after restricted stock allocation | 159,095 | 104,662 | 64,566 | ||||||||||
Allocation of income to restricted stock awards | 1,170 | 831 | 455 | ||||||||||
Diluted earnings: net income attributable to common stockholders after allocation | $ 160,265 | $ 105,493 | $ 65,021 | ||||||||||
Denominator | |||||||||||||
Weighted average common shares outstanding | 88,460 | 81,387 | 88,460 | 81,387 | 76,084 | ||||||||
Add: dilutive stock options | 1 | 2 | 2 | ||||||||||
Add: dilutive restricted stock | 454 | 651 | 625 | ||||||||||
Diluted weighted average common shares and securities | 88,915 | 82,040 | 88,915 | 82,040 | 76,711 | ||||||||
Basic (in USD per share) | $ 0.31 | $ 0.63 | $ 0.46 | $ 0.40 | $ 0.11 | $ 0.56 | $ 0.25 | $ 0.38 | $ 1.80 | $ 1.29 | $ 1.80 | $ 1.29 | $ 0.85 |
Diluted (in USD per share) | $ 0.31 | $ 0.63 | $ 0.46 | $ 0.40 | $ 0.11 | $ 0.56 | $ 0.25 | $ 0.38 | $ 1.80 | $ 1.29 | $ 1.80 | $ 1.29 | $ 0.85 |
Earnings Per Share , Antidiluti
Earnings Per Share , Antidilutive Securities Excluded from Computation of Loss Per Share (Details) - shares shares in Thousands | 9 Months Ended | 12 Months Ended | |
Sep. 30, 2019 | Sep. 30, 2018 | Dec. 31, 2017 | |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | |||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 4,852 | 6,169 | 6,240 |
Common OP Units [Member] | |||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | |||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 2,420 | 2,726 | 2,746 |
Series A-1 Preferred OP Units [Member] | |||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | |||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 309 | 332 | 345 |
Series A-3 Preferred OP Units [Member] | |||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | |||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 40 | 40 | 40 |
Series A-4 preferred OP units [Member] | |||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | |||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 0 | 410 | 424 |
Aspen Preferred OP Units [Member] | |||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | |||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 1,284 | 1,284 | 1,284 |
Series A-4 Preferred Stock [Member] | |||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | |||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 0 | 1,063 | 1,085 |
Series C preferred OP units [Member] | |||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | |||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 310 | 314 | 316 |
Series D Preferred OP Units [Member] | |||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | |||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 489 | 0 | 0 |
Quarterly Financial Informati_3
Quarterly Financial Information Schedule (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||||||||||
Dec. 31, 2019 | Sep. 30, 2019 | Jun. 30, 2019 | Mar. 31, 2019 | Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Total revenues | $ 301,819 | $ 362,443 | $ 312,445 | $ 287,330 | $ 274,003 | $ 323,413 | $ 271,434 | $ 257,975 | $ 1,264,037 | $ 1,126,825 | $ 982,570 | ||
Total expenses | 293,835 | 305,989 | 272,273 | 252,759 | 257,162 | 273,119 | 245,125 | 221,871 | 1,124,856 | 997,277 | 909,869 | ||
Income Before Other Items | 7,984 | 56,454 | 40,172 | 34,571 | 16,841 | 50,294 | 26,309 | 36,104 | 139,181 | 129,548 | 72,701 | ||
Net income attributable to Sun Communities, Inc. | $ 28,547 | $ 57,002 | $ 40,385 | $ 34,331 | $ 9,039 | $ 46,060 | $ 20,408 | $ 29,986 | $ 161,553 | $ 107,229 | $ 161,553 | $ 107,229 | $ 72,183 |
Earnings per share, Basic | $ 0.31 | $ 0.63 | $ 0.46 | $ 0.40 | $ 0.11 | $ 0.56 | $ 0.25 | $ 0.38 | $ 1.80 | $ 1.29 | $ 1.80 | $ 1.29 | $ 0.85 |
Earnings per share, Diluted | $ 0.31 | $ 0.63 | $ 0.46 | $ 0.40 | $ 0.11 | $ 0.56 | $ 0.25 | $ 0.38 | $ 1.80 | $ 1.29 | $ 1.80 | $ 1.29 | $ 0.85 |
Fair Value of Financial Instr_3
Fair Value of Financial Instruments , By Balance Sheet Grouping (Details) - USD ($) $ in Thousands | Dec. 31, 2019 | Sep. 30, 2019 | Mar. 31, 2019 | Dec. 31, 2018 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Notes and other receivables, net | $ 157,926 | $ 157,926 | $ 160,077 | |
Collateralized receivables, net | 0 | 0 | 106,924 | |
Financial assets | ||||
Receivables | 18,960 | 0 | ||
Financial liabilities | ||||
Secured borrowings on collateralized receivables | 0 | 107,731 | ||
Secured debt | 3,180,592 | $ 3,200,000 | 2,815,957 | |
Installment notes receivable on manufactured homes, net [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Notes and other receivables, net | 112,798 | |||
Reported Value Measurement [Member] | ||||
Financial liabilities | ||||
Long term debt excluding secured borrowings | 3,250,504 | 2,888,572 | ||
Lines of credit | 183,898 | 128,000 | ||
Other liabilities (contingent consideration) | 6,134 | 4,640 | ||
Financial Liabilities Fair Value Disclosure | 3,440,536 | 3,128,943 | ||
Reported Value Measurement [Member] | Fair Value, Recurring [Member] | ||||
Financial assets | ||||
Financial Liabilities Fair Value Disclosure | 209,267 | 268,759 | ||
Reported Value Measurement [Member] | Installment notes receivable on manufactured homes, net [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Notes and other receivables, net | 19,000 | 112,798 | ||
Reported Value Measurement [Member] | Installment notes receivable on manufactured homes, net [Member] | Fair Value, Recurring [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Notes and other receivables, net | 95,580 | |||
Reported Value Measurement [Member] | Collateralized Receivables [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Notes and other receivables, net | 106,900 | |||
Reported Value Measurement [Member] | Collateralized Receivables [Member] | Fair Value, Recurring [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Collateralized receivables, net | 0 | 106,924 | ||
Estimate of Fair Value Measurement [Member] | Fair Value, Recurring [Member] | ||||
Financial assets | ||||
Financial Liabilities Fair Value Disclosure | 209,267 | 268,759 | ||
Financial liabilities | ||||
Long term debt excluding secured borrowings | 3,270,544 | 2,757,649 | ||
Secured debt | 0 | 107,731 | ||
Lines of credit | 183,898 | 128,000 | ||
Other liabilities (contingent consideration) | 6,134 | 4,640 | ||
Financial Liabilities Fair Value Disclosure | 3,460,576 | 2,998,020 | ||
Estimate of Fair Value Measurement [Member] | Installment notes receivable on manufactured homes, net [Member] | Fair Value, Recurring [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Notes and other receivables, net | 95,580 | 112,798 | ||
Estimate of Fair Value Measurement [Member] | Collateralized Receivables [Member] | Fair Value, Recurring [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Collateralized receivables, net | 0 | 106,924 | ||
Secured Debt [Member] | ||||
Financial liabilities | ||||
Secured debt | $ 3,434,402 | 3,124,303 | ||
Secured Debt [Member] | Reported Value Measurement [Member] | ||||
Financial liabilities | ||||
Secured borrowings on collateralized receivables | 107,731 | |||
Secured debt | 0 | $ 0 | 107,731 | |
Marketable Securities [Member] | Reported Value Measurement [Member] | Fair Value, Recurring [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Investments, Fair Value Disclosure | 94,727 | 49,037 | ||
Marketable Securities [Member] | Estimate of Fair Value Measurement [Member] | Fair Value, Recurring [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Investments, Fair Value Disclosure | $ 94,727 | $ 49,037 |
Recent Accounting Pronounceme_3
Recent Accounting Pronouncements Recent Accounting Pronouncements (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||
Adjustments to Additional Paid in Capital, Fair Value | $ 300 | $ 600 |
Operating Lease, Liability | $ 24,222 |
Recent Accounting Pronounceme_4
Recent Accounting Pronouncements - Restricted Cash (Details) - USD ($) $ in Thousands | Dec. 31, 2019 | Sep. 30, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 |
New Accounting Pronouncements and Changes in Accounting Principles [Abstract] | |||||
Cash and Cash Equivalents, at Carrying Value | $ 22,100 | $ 50,300 | |||
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | $ 34,830 | $ 34,830 | $ 62,262 | $ 23,509 | $ 25,313 |
Commitments and Contingencies (
Commitments and Contingencies (Details) $ in Thousands | 12 Months Ended | |||
Dec. 31, 2019USD ($)site | Dec. 31, 2018USD ($)site | Dec. 31, 2017USD ($) | Dec. 31, 2019sites | |
Loss Contingencies [Line Items] | ||||
Number of Units in Real Estate Property | 10,390 | 4,882 | 141,293 | |
Catastrophic weather related charges | $ 1,737 | $ 92 | $ 8,352 |
Leases Leases - Future Minimum
Leases Leases - Future Minimum Lease Payments (Detail) $ in Thousands | Dec. 31, 2019USD ($) |
Leases [Abstract] | |
Lessee, Operating Lease, Liability, Payments, Due | $ 2,397 |
Finance Lease, Liability, Payments, Due Next Twelve Months | 120 |
Operating and Finance Leases, Liability, Payments, Due Next Twelve Months | 2,517 |
Lessee, Operating Lease, Liability, Payments, Due Year Two | 2,446 |
Finance Lease, Liability, Payments, Due Year Two | 120 |
Operating and Finance, Liability, Payments, Due Year Two | 2,566 |
Lessee, Operating Lease, Liability, Payments, Due Year Three | 2,483 |
Finance Lease, Liability, Payments, Due Year Three | 120 |
Operating and Finance, Liability, Payments, Due Year Three | 2,603 |
Lessee, Operating Lease, Liability, Payments, Due Year Four | 2,572 |
Finance Lease, Liability, Payments, Due Year Four | 120 |
Operating and Finance, Liability, Payments, Due Year Four | 2,692 |
Lessee, Operating Lease, Liability, Payments, Due Year Five | 2,868 |
Finance Lease, Liability, Payments, Due Year Five | 4,060 |
Operating and Finance, Liability, Payments, Due Year Five | 6,928 |
Lessee, Operating Lease, Liability, Payments, Due after Year Five | 32,277 |
Finance Lease, Liability, Payments, Due after Year Five | 0 |
Operating and Finance, Liability, Payments, Due After Year Five | 32,277 |
Lessee, Operating Lease, Liability, Payments, Due | 45,043 |
Finance Lease, Liability, Payment, Due | 4,540 |
Operating and Finance, Liability, Payments, Due | 49,583 |
Lessee, Operating Lease, Liability, Undiscounted Excess Amount | 20,821 |
Finance Lease, Liability, Undiscounted Excess Amount | 459 |
Operating and Finance, Liability, Undiscounted Excess Amount | 21,280 |
Operating Lease, Liability | 24,222 |
Finance Lease, Liability | 4,081 |
Operating and Finance, Liability | $ 28,303 |
Leases Leases ROU (Details)
Leases Leases ROU (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
ROU [Abstract] | ||
Right-of-Use Asset Obtained in Exchange for Finance Lease Liability | $ 4,081 | |
Capital Leased Assets, Gross | $ 4,098 | |
Right-of-Use Asset Obtained in Exchange for New Operating Lease Liability | 23,751 | |
Right-of-Use Asset Obtained in Exchange for Operating Lease Liability | 28,366 | |
Below Market Lease, Net | 29,118 | |
Finance Lease, Liability | 4,081 | |
Capital Lease Obligations | $ 4,098 | |
Operating Lease, Liability | $ 24,222 |
Leases Lease Expense (Details)
Leases Lease Expense (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Property, Plant and Equipment [Line Items] | |||
Finance Lease, Right-of-Use Asset, Amortization | $ 17 | ||
Finance Lease, Interest Expense | 103 | ||
Operating Lease, Cost | 3,474 | ||
Capital Leases, Income Statement, Amortization Expense | $ 16 | $ 0 | |
Capital Leases, Income Statement, Interest Expense | 104 | 0 | |
Operating Leases, Rent Expense, Net | 3,310 | 3,303 | |
Lease, Cost | 5,178 | 4,251 | 4,320 |
Below Market Leases [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Variable Lease, Cost | $ 1,584 | ||
Amortization | $ 821 | $ 1,017 |
Leases Lease Term and Discount
Leases Lease Term and Discount Rate (Details) | Dec. 31, 2019 |
Lease Term and Discount Rate [Abstract] | |
Finance Lease, Weighted Average Remaining Lease Term | 4 years 6 months |
Operating Lease, Weighted Average Remaining Lease Term | 27 years 1 month 24 days |
Finance Lease, Weighted Average Discount Rate, Percent | 2.50% |
Operating Lease, Weighted Average Discount Rate, Percent | 4.15% |
Leases Leases Other Information
Leases Leases Other Information (Details) - USD ($) $ in Thousands | 1 Months Ended | 12 Months Ended | ||
Jun. 30, 2018 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Lessor, Lease, Description [Line Items] | ||||
Ground Leases, Percent Of Land Acquired | 50.00% | |||
Payments to Acquire Land | $ 14,000 | |||
Lessee, Operating Lease, Lease Not Yet Commenced, Value | $ 2,900 | |||
Lessee, Operating Lease, Lease Not yet Commenced, Term of Contract | 7 years | |||
Percent of Operating Leases Where Company is the Lessor | 95.00% | |||
Percent of Investment Property, Net on the Consolidated Balance Sheets | 95.00% | |||
Operating Lease, Payments | $ 2,199 | 3,340 | $ 3,182 | |
Finance Lease, Principal Payments | 120 | 120 | 121 | |
Operating and Financing, Payments | $ 2,319 | 3,460 | $ 3,303 | |
Ground Lease [Member] | ||||
Lessor, Lease, Description [Line Items] | ||||
Payments to Acquire Land | $ 8,000 | |||
Impairment of Intangible Assets, Finite-lived | 1,100 | |||
Impairment of Intangible Assets, Accumulated Amortization | 300 | |||
Property, Operating and Maintenance [Member] | Ground Lease [Member] | ||||
Lessor, Lease, Description [Line Items] | ||||
Impairment of Intangible Assets (Excluding Goodwill) | $ 800 |
Related Party Transactions (Det
Related Party Transactions (Details) $ in Millions | 12 Months Ended | |||
Dec. 31, 2019USD ($)$ / ft² | Dec. 31, 2018USD ($) | Dec. 31, 2017USD ($) | Mar. 31, 2019ft² | |
Related Party Transaction [Line Items] | ||||
Net Rentable Area | ft² | 103,100 | |||
Chief Executive Officer [Member] | ||||
Related Party Transaction [Line Items] | ||||
Related Party Transaction, Equity Interest in Office Space, Percentage | 28.10% | |||
Director [Member] | ||||
Related Party Transaction [Line Items] | ||||
Legal Fees | $ 11.1 | $ 7.1 | $ 5 | |
Through October 31, 2017 [Member] | ||||
Related Party Transaction [Line Items] | ||||
Related Party Transactions, Current and Future Base Rent | $ / ft² | 18.95 | |||
Airplane Usage [Member] | ||||
Related Party Transaction [Line Items] | ||||
Related Party Transaction, Expenses from Transactions with Related Party | $ 0.4 | |||
Telephone Service [Member] | ||||
Related Party Transaction [Line Items] | ||||
Related Party Transaction, Expenses from Transactions with Related Party | $ 0.2 |
Subsequent Events Subsequent _2
Subsequent Events Subsequent Event (Details) | Feb. 14, 2019$ / sharesshares | Jan. 31, 2019USD ($)$ / sharesshares | Feb. 21, 2019USD ($)community | Mar. 31, 2019 | Dec. 31, 2019USD ($)site | Dec. 31, 2018USD ($)siteRate | Dec. 31, 2017USD ($) | Jan. 13, 2020shares | Dec. 31, 2019sites | Dec. 31, 2019USD ($) | Dec. 31, 2019 | Sep. 30, 2019Rateshares | Feb. 21, 2019RV_community |
Subsequent Event [Line Items] | |||||||||||||
Number of Units in Real Estate Property | 10,390 | 4,882 | 141,293 | ||||||||||
Cash, proceeds from dispositions held in escrow, or contingent liability | $ 853,682,000 | ||||||||||||
Loss on extinguishment of debt | $ 16,505,000 | $ 1,190,000 | $ 4,676,000 | ||||||||||
Weighted average interest rate | Rate | 4.50% | 4.00% | |||||||||||
Ratio of Shares to Common Stock, Numerator | $ 100 | ||||||||||||
Ratio of Shares to Common Stock, Denominator | $ 145 | ||||||||||||
Number of Shares Amended Under Revised Partnership Agreement | shares | 270,000 | ||||||||||||
Units Outstanding, General Partnership | shares | 1,283,819 | ||||||||||||
General Partnership, Annual Distribution Rate, Percent | 3.80% | 6.50% | |||||||||||
Subsequent Event [Member] | |||||||||||||
Subsequent Event [Line Items] | |||||||||||||
Number of Units in Real Estate Property | 1 | 230 | |||||||||||
Debt Instrument, Term | 25 years | ||||||||||||
Cash, proceeds from dispositions held in escrow, or contingent liability | $ 13,500,000 | ||||||||||||
Series D Preferred OP Units [Member] | |||||||||||||
Subsequent Event [Line Items] | |||||||||||||
Temporary Equity, Shares Outstanding | shares | 488,958 | ||||||||||||
Temporary Equity, Dividends For Term One, Percentage | 3.75% | ||||||||||||
Temporary Equity, Dividends, Percentage | 4.00% | ||||||||||||
Series D Preferred OP Units [Member] | Subsequent Event [Member] | |||||||||||||
Subsequent Event [Line Items] | |||||||||||||
Temporary Equity, Shares Outstanding | shares | 90,000 | ||||||||||||
Temporary Equity, Dividends | $ / shares | $ 100 | ||||||||||||
Temporary Equity, Dividends For Term One, Percentage | 5.30% | ||||||||||||
Temporary Equity, Dividends, Percentage | 5.50% | ||||||||||||
Series B-3 Preferred OP Units | |||||||||||||
Subsequent Event [Line Items] | |||||||||||||
Stock Redeemed or Called During Period, Shares | shares | 26,750 | ||||||||||||
Temporary Equity, Redemption Price Per Share Including Accrued and Unpaid Dividends | $ / shares | $ 100.153424 | ||||||||||||
Stock Redeemed or Called During Period, Value | $ 2,700,000 |
SCHEDULE III Schedule of Proper
SCHEDULE III Schedule of Property (Details) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 |
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | $ 3,188,472 | |||
Initial Cost to Company, Land | 1,379,317 | |||
Initial Cost to Company, Depreciable Assets | 5,238,831 | |||
Cost Capitalized Subsequent to Acquisition, Land | 34,962 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 2,020,697 | |||
Carrying Amount, Land | 1,414,279 | |||
Carrying Amount, Depreciable Assets | 7,505,321 | |||
Carrying Amount, Total | 8,919,600 | $ 7,560,946 | $ 6,882,879 | $ 6,496,339 |
Accumulated Depreciation | (1,686,980) | (1,442,630) | $ (1,237,525) | $ (1,026,858) |
Lines of credit | 183,898 | $ 128,000 | ||
49er Village RV Resort [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 0 | |||
Initial Cost to Company, Land | 2,180 | |||
Initial Cost to Company, Depreciable Assets | 10,710 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 2,252 | |||
Carrying Amount, Land | 2,180 | |||
Carrying Amount, Depreciable Assets | 12,962 | |||
Carrying Amount, Total | 15,142 | |||
Accumulated Depreciation | (1,251) | |||
Academy/Westpoint [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 0 | |||
Initial Cost to Company, Land | 1,485 | |||
Initial Cost to Company, Depreciable Assets | 14,278 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 9,496 | |||
Carrying Amount, Land | 1,485 | |||
Carrying Amount, Depreciable Assets | 23,774 | |||
Carrying Amount, Total | 25,259 | |||
Accumulated Depreciation | (12,715) | |||
Adirondack Gateway Campground RV Resort [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 0 | |||
Initial Cost to Company, Land | 620 | |||
Initial Cost to Company, Depreciable Assets | 1,970 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 2,577 | |||
Carrying Amount, Land | 620 | |||
Carrying Amount, Depreciable Assets | 4,547 | |||
Carrying Amount, Total | 5,167 | |||
Accumulated Depreciation | (599) | |||
Allendale [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 0 | |||
Initial Cost to Company, Land | 366 | |||
Initial Cost to Company, Depreciable Assets | 3,684 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 10,928 | |||
Carrying Amount, Land | 366 | |||
Carrying Amount, Depreciable Assets | 14,612 | |||
Carrying Amount, Total | 14,978 | |||
Accumulated Depreciation | (8,782) | |||
Alpine [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 10,895 | |||
Initial Cost to Company, Land | 729 | |||
Initial Cost to Company, Depreciable Assets | 6,692 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 10,072 | |||
Carrying Amount, Land | 729 | |||
Carrying Amount, Depreciable Assets | 16,764 | |||
Carrying Amount, Total | 17,493 | |||
Accumulated Depreciation | (10,114) | |||
Alta Laguna [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 28,090 | |||
Initial Cost to Company, Land | 23,736 | |||
Initial Cost to Company, Depreciable Assets | 21,088 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 1,687 | |||
Carrying Amount, Land | 23,736 | |||
Carrying Amount, Depreciable Assets | 22,775 | |||
Carrying Amount, Total | 46,511 | |||
Accumulated Depreciation | (2,768) | |||
Apple Carr Village [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 0 | |||
Initial Cost to Company, Land | 800 | |||
Initial Cost to Company, Depreciable Assets | 6,172 | |||
Cost Capitalized Subsequent to Acquisition, Land | 336 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 18,359 | |||
Carrying Amount, Land | 1,136 | |||
Carrying Amount, Depreciable Assets | 24,531 | |||
Carrying Amount, Total | 25,667 | |||
Accumulated Depreciation | (5,138) | |||
Apple Creek [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 7,582 | |||
Initial Cost to Company, Land | 543 | |||
Initial Cost to Company, Depreciable Assets | 5,480 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 2,901 | |||
Carrying Amount, Land | 543 | |||
Carrying Amount, Depreciable Assets | 8,381 | |||
Carrying Amount, Total | 8,924 | |||
Accumulated Depreciation | (4,546) | |||
Arbor Terrace [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 0 | |||
Initial Cost to Company, Land | 456 | |||
Initial Cost to Company, Depreciable Assets | 4,410 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 5,412 | |||
Carrying Amount, Land | 456 | |||
Carrying Amount, Depreciable Assets | 9,822 | |||
Carrying Amount, Total | 10,278 | |||
Accumulated Depreciation | (5,142) | |||
Arbor Woods [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 0 | |||
Initial Cost to Company, Land | 3,340 | |||
Initial Cost to Company, Depreciable Assets | 12,385 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 11,303 | |||
Carrying Amount, Land | 3,340 | |||
Carrying Amount, Depreciable Assets | 23,688 | |||
Carrying Amount, Total | 27,028 | |||
Accumulated Depreciation | (2,707) | |||
Archview [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 0 | |||
Initial Cost to Company, Land | 6,289 | |||
Initial Cost to Company, Depreciable Assets | 8,419 | |||
Cost Capitalized Subsequent to Acquisition, Land | 5 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 305 | |||
Carrying Amount, Land | 6,294 | |||
Carrying Amount, Depreciable Assets | 8,724 | |||
Carrying Amount, Total | 15,018 | |||
Accumulated Depreciation | (490) | |||
Ariana Village [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 5,340 | |||
Initial Cost to Company, Land | 240 | |||
Initial Cost to Company, Depreciable Assets | 2,195 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 1,873 | |||
Carrying Amount, Land | 240 | |||
Carrying Amount, Depreciable Assets | 4,068 | |||
Carrying Amount, Total | 4,308 | |||
Accumulated Depreciation | (2,364) | |||
Arran Lake [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 0 | |||
Initial Cost to Company, Land | 1,190 | |||
Initial Cost to Company, Depreciable Assets | 1,175 | |||
Cost Capitalized Subsequent to Acquisition, Land | (28) | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 387 | |||
Carrying Amount, Land | 1,162 | |||
Carrying Amount, Depreciable Assets | 1,562 | |||
Carrying Amount, Total | 2,724 | |||
Accumulated Depreciation | (203) | |||
Austin Lone Star [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 0 | |||
Initial Cost to Company, Land | 630 | |||
Initial Cost to Company, Depreciable Assets | 7,913 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 2,104 | |||
Carrying Amount, Land | 630 | |||
Carrying Amount, Depreciable Assets | 10,017 | |||
Carrying Amount, Total | 10,647 | |||
Accumulated Depreciation | (1,257) | |||
Autumn Ridge [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 24,344 | |||
Initial Cost to Company, Land | 890 | |||
Initial Cost to Company, Depreciable Assets | 8,054 | |||
Cost Capitalized Subsequent to Acquisition, Land | (33) | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 5,835 | |||
Carrying Amount, Land | 857 | |||
Carrying Amount, Depreciable Assets | 13,889 | |||
Carrying Amount, Total | 14,746 | |||
Accumulated Depreciation | (7,992) | |||
Bahia Vista Estates [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 0 | |||
Initial Cost to Company, Land | 6,810 | |||
Initial Cost to Company, Depreciable Assets | 17,650 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 1,804 | |||
Carrying Amount, Land | 6,810 | |||
Carrying Amount, Depreciable Assets | 19,454 | |||
Carrying Amount, Total | 26,264 | |||
Accumulated Depreciation | (2,277) | |||
Baker Acres [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 7,218 | |||
Initial Cost to Company, Land | 2,140 | |||
Initial Cost to Company, Depreciable Assets | 11,880 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 2,520 | |||
Carrying Amount, Land | 2,140 | |||
Carrying Amount, Depreciable Assets | 14,400 | |||
Carrying Amount, Total | 16,540 | |||
Accumulated Depreciation | (1,743) | |||
Beechwood [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 0 | |||
Initial Cost to Company, Land | 7,897 | |||
Initial Cost to Company, Depreciable Assets | 18,400 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 5 | |||
Carrying Amount, Land | 7,897 | |||
Carrying Amount, Depreciable Assets | 18,405 | |||
Carrying Amount, Total | 26,302 | |||
Accumulated Depreciation | (307) | |||
Bell Crossing [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 9,425 | |||
Initial Cost to Company, Land | 717 | |||
Initial Cost to Company, Depreciable Assets | 1,916 | |||
Cost Capitalized Subsequent to Acquisition, Land | (13) | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 8,330 | |||
Carrying Amount, Land | 704 | |||
Carrying Amount, Depreciable Assets | 10,246 | |||
Carrying Amount, Total | 10,950 | |||
Accumulated Depreciation | (6,134) | |||
Big Timber Lake [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 10,833 | |||
Initial Cost to Company, Land | 590 | |||
Initial Cost to Company, Depreciable Assets | 21,308 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 2,195 | |||
Carrying Amount, Land | 590 | |||
Carrying Amount, Depreciable Assets | 23,503 | |||
Carrying Amount, Total | 24,093 | |||
Accumulated Depreciation | (5,827) | |||
Big Tree RV Resort [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 0 | |||
Initial Cost to Company, Land | 1,250 | |||
Initial Cost to Company, Depreciable Assets | 13,534 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 2,627 | |||
Carrying Amount, Land | 1,250 | |||
Carrying Amount, Depreciable Assets | 16,161 | |||
Carrying Amount, Total | 17,411 | |||
Accumulated Depreciation | (1,991) | |||
Blazing Star [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 0 | |||
Initial Cost to Company, Land | 750 | |||
Initial Cost to Company, Depreciable Assets | 6,163 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 1,764 | |||
Carrying Amount, Land | 750 | |||
Carrying Amount, Depreciable Assets | 7,927 | |||
Carrying Amount, Total | 8,677 | |||
Accumulated Depreciation | (2,407) | |||
Blue Heron Pines [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 18,066 | |||
Initial Cost to Company, Land | 410 | |||
Initial Cost to Company, Depreciable Assets | 35,294 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 5,043 | |||
Carrying Amount, Land | 410 | |||
Carrying Amount, Depreciable Assets | 40,337 | |||
Carrying Amount, Total | 40,747 | |||
Accumulated Depreciation | (5,829) | |||
Blue Jay MH & RV Resort [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 0 | |||
Initial Cost to Company, Land | 2,040 | |||
Initial Cost to Company, Depreciable Assets | 9,679 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 1,703 | |||
Carrying Amount, Land | 2,040 | |||
Carrying Amount, Depreciable Assets | 11,382 | |||
Carrying Amount, Total | 13,422 | |||
Accumulated Depreciation | (1,343) | |||
Blue Star / Lost Dutchman [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 6,406 | |||
Initial Cost to Company, Land | 5,120 | |||
Initial Cost to Company, Depreciable Assets | 12,720 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 5,627 | |||
Carrying Amount, Land | 5,120 | |||
Carrying Amount, Depreciable Assets | 18,347 | |||
Carrying Amount, Total | 23,467 | |||
Accumulated Depreciation | (3,497) | |||
Blueberry Hill [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 0 | |||
Initial Cost to Company, Land | 3,830 | |||
Initial Cost to Company, Depreciable Assets | 3,240 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 3,646 | |||
Carrying Amount, Land | 3,830 | |||
Carrying Amount, Depreciable Assets | 6,886 | |||
Carrying Amount, Total | 10,716 | |||
Accumulated Depreciation | (2,285) | |||
Boulder Ridge [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 26,945 | |||
Initial Cost to Company, Land | 1,000 | |||
Initial Cost to Company, Depreciable Assets | 500 | |||
Cost Capitalized Subsequent to Acquisition, Land | 3,324 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 49,478 | |||
Carrying Amount, Land | 4,324 | |||
Carrying Amount, Depreciable Assets | 49,978 | |||
Carrying Amount, Total | 54,302 | |||
Accumulated Depreciation | (13,237) | |||
Branch Creek [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 23,249 | |||
Initial Cost to Company, Land | 796 | |||
Initial Cost to Company, Depreciable Assets | 3,716 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 7,047 | |||
Carrying Amount, Land | 796 | |||
Carrying Amount, Depreciable Assets | 10,763 | |||
Carrying Amount, Total | 11,559 | |||
Accumulated Depreciation | (6,525) | |||
Brentwood Estates [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 5,838 | |||
Initial Cost to Company, Land | 1,150 | |||
Initial Cost to Company, Depreciable Assets | 9,359 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 3,049 | |||
Carrying Amount, Land | 1,150 | |||
Carrying Amount, Depreciable Assets | 12,408 | |||
Carrying Amount, Total | 13,558 | |||
Accumulated Depreciation | (2,035) | |||
Brentwood Mobile Village [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 10,308 | |||
Initial Cost to Company, Land | 385 | |||
Initial Cost to Company, Depreciable Assets | 3,592 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 2,004 | |||
Carrying Amount, Land | 385 | |||
Carrying Amount, Depreciable Assets | 5,596 | |||
Carrying Amount, Total | 5,981 | |||
Accumulated Depreciation | (3,571) | |||
Brentwood West [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 28,800 | |||
Initial Cost to Company, Land | 13,620 | |||
Initial Cost to Company, Depreciable Assets | 24,202 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 1,052 | |||
Carrying Amount, Land | 13,620 | |||
Carrying Amount, Depreciable Assets | 25,254 | |||
Carrying Amount, Total | 38,874 | |||
Accumulated Depreciation | (4,911) | |||
Broadview Estates [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 4,805 | |||
Initial Cost to Company, Land | 749 | |||
Initial Cost to Company, Depreciable Assets | 6,089 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 17,136 | |||
Carrying Amount, Land | 749 | |||
Carrying Amount, Depreciable Assets | 23,225 | |||
Carrying Amount, Total | 23,974 | |||
Accumulated Depreciation | (12,158) | |||
Brook Ridge [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 0 | |||
Initial Cost to Company, Land | 959 | |||
Initial Cost to Company, Depreciable Assets | 5,971 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 0 | |||
Carrying Amount, Land | 959 | |||
Carrying Amount, Depreciable Assets | 5,971 | |||
Carrying Amount, Total | 6,930 | |||
Accumulated Depreciation | (100) | |||
Brookside Mobile Home Village [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 0 | |||
Initial Cost to Company, Land | 260 | |||
Initial Cost to Company, Depreciable Assets | 1,080 | |||
Cost Capitalized Subsequent to Acquisition, Land | 386 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 19,555 | |||
Carrying Amount, Land | 646 | |||
Carrying Amount, Depreciable Assets | 20,635 | |||
Carrying Amount, Total | 21,281 | |||
Accumulated Depreciation | (10,050) | |||
Brookside Village, Kentwood, MI [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 6,886 | |||
Initial Cost to Company, Land | 170 | |||
Initial Cost to Company, Depreciable Assets | 5,564 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 392 | |||
Carrying Amount, Land | 170 | |||
Carrying Amount, Depreciable Assets | 5,956 | |||
Carrying Amount, Total | 6,126 | |||
Accumulated Depreciation | (1,650) | |||
Buena Vista [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 0 | |||
Initial Cost to Company, Land | 9,190 | |||
Initial Cost to Company, Depreciable Assets | 14,363 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 59 | |||
Carrying Amount, Land | 9,190 | |||
Carrying Amount, Depreciable Assets | 14,422 | |||
Carrying Amount, Total | 23,612 | |||
Accumulated Depreciation | (313) | |||
Buttonwood Bay [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 32,107 | |||
Initial Cost to Company, Land | 1,952 | |||
Initial Cost to Company, Depreciable Assets | 18,294 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 7,341 | |||
Carrying Amount, Land | 1,952 | |||
Carrying Amount, Depreciable Assets | 25,635 | |||
Carrying Amount, Total | 27,587 | |||
Accumulated Depreciation | (14,582) | |||
Byron Center [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 3,235 | |||
Initial Cost to Company, Land | 253 | |||
Initial Cost to Company, Depreciable Assets | 2,402 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 1,815 | |||
Carrying Amount, Land | 253 | |||
Carrying Amount, Depreciable Assets | 4,217 | |||
Carrying Amount, Total | 4,470 | |||
Accumulated Depreciation | (2,684) | |||
Caliente Sands [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 0 | |||
Initial Cost to Company, Land | 1,930 | |||
Initial Cost to Company, Depreciable Assets | 6,710 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 640 | |||
Carrying Amount, Land | 1,930 | |||
Carrying Amount, Depreciable Assets | 7,350 | |||
Carrying Amount, Total | 9,280 | |||
Accumulated Depreciation | (612) | |||
Camelot Villa [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 16,442 | |||
Initial Cost to Company, Land | 910 | |||
Initial Cost to Company, Depreciable Assets | 21,211 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 12,349 | |||
Carrying Amount, Land | 910 | |||
Carrying Amount, Depreciable Assets | 33,560 | |||
Carrying Amount, Total | 34,470 | |||
Accumulated Depreciation | (8,482) | |||
Campers Haven RV Resort [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 16,300 | |||
Initial Cost to Company, Land | 14,260 | |||
Initial Cost to Company, Depreciable Assets | 11,915 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 8,230 | |||
Carrying Amount, Land | 14,260 | |||
Carrying Amount, Depreciable Assets | 20,145 | |||
Carrying Amount, Total | 34,405 | |||
Accumulated Depreciation | (1,874) | |||
Candlelight Manor [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 0 | |||
Initial Cost to Company, Land | 3,140 | |||
Initial Cost to Company, Depreciable Assets | 3,867 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 2,650 | |||
Carrying Amount, Land | 3,140 | |||
Carrying Amount, Depreciable Assets | 6,517 | |||
Carrying Amount, Total | 9,657 | |||
Accumulated Depreciation | (708) | |||
Candlelight Village [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 7,222 | |||
Initial Cost to Company, Land | 600 | |||
Initial Cost to Company, Depreciable Assets | 5,623 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 11,926 | |||
Carrying Amount, Land | 600 | |||
Carrying Amount, Depreciable Assets | 17,549 | |||
Carrying Amount, Total | 18,149 | |||
Accumulated Depreciation | (10,139) | |||
Canyonlands [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 0 | |||
Initial Cost to Company, Land | 3,661 | |||
Initial Cost to Company, Depreciable Assets | 7,415 | |||
Cost Capitalized Subsequent to Acquisition, Land | 1 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 519 | |||
Carrying Amount, Land | 3,662 | |||
Carrying Amount, Depreciable Assets | 7,934 | |||
Carrying Amount, Total | 11,596 | |||
Accumulated Depreciation | (469) | |||
Cape May Crossing [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 0 | |||
Initial Cost to Company, Land | 270 | |||
Initial Cost to Company, Depreciable Assets | 1,693 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 494 | |||
Carrying Amount, Land | 270 | |||
Carrying Amount, Depreciable Assets | 2,187 | |||
Carrying Amount, Total | 2,457 | |||
Accumulated Depreciation | (260) | |||
Cape May KOA [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 0 | |||
Initial Cost to Company, Land | 650 | |||
Initial Cost to Company, Depreciable Assets | 7,736 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 7,950 | |||
Carrying Amount, Land | 650 | |||
Carrying Amount, Depreciable Assets | 15,686 | |||
Carrying Amount, Total | 16,336 | |||
Accumulated Depreciation | (4,287) | |||
Carolina Pines [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 0 | |||
Initial Cost to Company, Land | 5,900 | |||
Initial Cost to Company, Depreciable Assets | 0 | |||
Cost Capitalized Subsequent to Acquisition, Land | 694 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 0 | |||
Carrying Amount, Land | 6,594 | |||
Carrying Amount, Depreciable Assets | 63,828 | |||
Carrying Amount, Total | 70,422 | |||
Accumulated Depreciation | (966) | |||
Carriage Cove [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 16,716 | |||
Initial Cost to Company, Land | 6,050 | |||
Initial Cost to Company, Depreciable Assets | 21,235 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 1,977 | |||
Carrying Amount, Land | 6,050 | |||
Carrying Amount, Depreciable Assets | 23,212 | |||
Carrying Amount, Total | 29,262 | |||
Accumulated Depreciation | (4,426) | |||
Carrington Pointe [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 0 | |||
Initial Cost to Company, Land | 1,076 | |||
Initial Cost to Company, Depreciable Assets | 3,632 | |||
Cost Capitalized Subsequent to Acquisition, Land | (1) | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 18,984 | |||
Carrying Amount, Land | 1,075 | |||
Carrying Amount, Depreciable Assets | 22,616 | |||
Carrying Amount, Total | 23,691 | |||
Accumulated Depreciation | (7,753) | |||
Castaways [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 20,607 | |||
Initial Cost to Company, Land | 14,320 | |||
Initial Cost to Company, Depreciable Assets | 22,277 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 5,150 | |||
Carrying Amount, Land | 14,320 | |||
Carrying Amount, Depreciable Assets | 27,427 | |||
Carrying Amount, Total | 41,747 | |||
Accumulated Depreciation | (6,131) | |||
Cava Robles RV Resort [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 0 | |||
Initial Cost to Company, Land | 1,396 | |||
Initial Cost to Company, Depreciable Assets | 0 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 0 | |||
Carrying Amount, Land | 1,396 | |||
Carrying Amount, Depreciable Assets | 39,084 | |||
Carrying Amount, Total | 40,480 | |||
Accumulated Depreciation | (2,668) | |||
Cave Creek [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 24,811 | |||
Initial Cost to Company, Land | 2,241 | |||
Initial Cost to Company, Depreciable Assets | 15,343 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 9,338 | |||
Carrying Amount, Land | 2,241 | |||
Carrying Amount, Depreciable Assets | 24,681 | |||
Carrying Amount, Total | 26,922 | |||
Accumulated Depreciation | (9,921) | |||
Cedar Springs [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 0 | |||
Initial Cost to Company, Land | 2,899 | |||
Initial Cost to Company, Depreciable Assets | 10,253 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 22 | |||
Carrying Amount, Land | 2,899 | |||
Carrying Amount, Depreciable Assets | 10,275 | |||
Carrying Amount, Total | 13,174 | |||
Accumulated Depreciation | (171) | |||
Central Park MH & RV Resort [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 0 | |||
Initial Cost to Company, Land | 2,600 | |||
Initial Cost to Company, Depreciable Assets | 10,405 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 3,507 | |||
Carrying Amount, Land | 2,600 | |||
Carrying Amount, Depreciable Assets | 13,912 | |||
Carrying Amount, Total | 16,512 | |||
Accumulated Depreciation | (1,525) | |||
Cherrywood [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 0 | |||
Initial Cost to Company, Land | 662 | |||
Initial Cost to Company, Depreciable Assets | 9,629 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 57 | |||
Carrying Amount, Land | 662 | |||
Carrying Amount, Depreciable Assets | 9,686 | |||
Carrying Amount, Total | 10,348 | |||
Accumulated Depreciation | (160) | |||
Chisholm Point [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 23,200 | |||
Initial Cost to Company, Land | 609 | |||
Initial Cost to Company, Depreciable Assets | 5,286 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 6,131 | |||
Carrying Amount, Land | 609 | |||
Carrying Amount, Depreciable Assets | 11,417 | |||
Carrying Amount, Total | 12,026 | |||
Accumulated Depreciation | (6,327) | |||
Chincoteague [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 0 | |||
Initial Cost to Company, Land | 5,750 | |||
Initial Cost to Company, Depreciable Assets | 13,836 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 0 | |||
Carrying Amount, Land | 5,750 | |||
Carrying Amount, Depreciable Assets | 13,836 | |||
Carrying Amount, Total | 19,586 | |||
Accumulated Depreciation | (273) | |||
Chula Vista [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 0 | |||
Initial Cost to Company, Land | 0 | |||
Initial Cost to Company, Depreciable Assets | 0 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 1,125 | |||
Carrying Amount, Land | 0 | |||
Carrying Amount, Depreciable Assets | 1,125 | |||
Carrying Amount, Total | 1,125 | |||
Accumulated Depreciation | (25) | |||
Cider Mill Crossings [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 0 | |||
Initial Cost to Company, Land | 520 | |||
Initial Cost to Company, Depreciable Assets | 1,568 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 39,810 | |||
Carrying Amount, Land | 520 | |||
Carrying Amount, Depreciable Assets | 41,378 | |||
Carrying Amount, Total | 41,898 | |||
Accumulated Depreciation | (9,046) | |||
Cider Mill Village [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 4,590 | |||
Initial Cost to Company, Land | 250 | |||
Initial Cost to Company, Depreciable Assets | 3,590 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 2,621 | |||
Carrying Amount, Land | 250 | |||
Carrying Amount, Depreciable Assets | 6,211 | |||
Carrying Amount, Total | 6,461 | |||
Accumulated Depreciation | (2,283) | |||
Citrus Hill RV Resort [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 0 | |||
Initial Cost to Company, Land | 1,170 | |||
Initial Cost to Company, Depreciable Assets | 2,422 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 1,486 | |||
Carrying Amount, Land | 1,170 | |||
Carrying Amount, Depreciable Assets | 3,908 | |||
Carrying Amount, Total | 5,078 | |||
Accumulated Depreciation | (431) | |||
Clear Water Mobile [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 12,249 | |||
Initial Cost to Company, Land | 80 | |||
Initial Cost to Company, Depreciable Assets | 1,270 | |||
Cost Capitalized Subsequent to Acquisition, Land | 61 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 6,335 | |||
Carrying Amount, Land | 141 | |||
Carrying Amount, Depreciable Assets | 7,605 | |||
Carrying Amount, Total | 7,746 | |||
Accumulated Depreciation | (4,378) | |||
Club Naples [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 0 | |||
Initial Cost to Company, Land | 5,780 | |||
Initial Cost to Company, Depreciable Assets | 4,952 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 3,139 | |||
Carrying Amount, Land | 5,780 | |||
Carrying Amount, Depreciable Assets | 8,091 | |||
Carrying Amount, Total | 13,871 | |||
Accumulated Depreciation | (2,694) | |||
Club Wildwood [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 22,629 | |||
Initial Cost to Company, Land | 14,206 | |||
Initial Cost to Company, Depreciable Assets | 21,275 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 2,133 | |||
Carrying Amount, Land | 14,206 | |||
Carrying Amount, Depreciable Assets | 23,408 | |||
Carrying Amount, Total | 37,614 | |||
Accumulated Depreciation | (2,690) | |||
Coastal Plantation [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 0 | |||
Initial Cost to Company, Land | 3,264 | |||
Initial Cost to Company, Depreciable Assets | 6,469 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 223 | |||
Carrying Amount, Land | 3,264 | |||
Carrying Amount, Depreciable Assets | 6,692 | |||
Carrying Amount, Total | 9,956 | |||
Accumulated Depreciation | (108) | |||
Costa Vista [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 0 | |||
Initial Cost to Company, Land | 0 | |||
Initial Cost to Company, Depreciable Assets | 0 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 4,777 | |||
Carrying Amount, Land | 0 | |||
Carrying Amount, Depreciable Assets | 4,777 | |||
Carrying Amount, Total | 4,777 | |||
Accumulated Depreciation | 0 | |||
Cobus Green [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 8,864 | |||
Initial Cost to Company, Land | 762 | |||
Initial Cost to Company, Depreciable Assets | 7,037 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 8,002 | |||
Carrying Amount, Land | 762 | |||
Carrying Amount, Depreciable Assets | 15,039 | |||
Carrying Amount, Total | 15,801 | |||
Accumulated Depreciation | (9,274) | |||
Colony In The Wood [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 0 | |||
Initial Cost to Company, Land | 5,650 | |||
Initial Cost to Company, Depreciable Assets | 26,828 | |||
Cost Capitalized Subsequent to Acquisition, Land | 29 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 2,065 | |||
Carrying Amount, Land | 5,679 | |||
Carrying Amount, Depreciable Assets | 28,893 | |||
Carrying Amount, Total | 34,572 | |||
Accumulated Depreciation | (1,426) | |||
Comal Farms [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 0 | |||
Initial Cost to Company, Land | 1,455 | |||
Initial Cost to Company, Depreciable Assets | 1,732 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 9,458 | |||
Carrying Amount, Land | 1,455 | |||
Carrying Amount, Depreciable Assets | 11,190 | |||
Carrying Amount, Total | 12,645 | |||
Accumulated Depreciation | (5,422) | |||
Compass [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 0 | |||
Initial Cost to Company, Land | 4,151 | |||
Initial Cost to Company, Depreciable Assets | 10,480 | |||
Cost Capitalized Subsequent to Acquisition, Land | 2 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 406 | |||
Carrying Amount, Land | 4,153 | |||
Carrying Amount, Depreciable Assets | 10,886 | |||
Carrying Amount, Total | 15,039 | |||
Accumulated Depreciation | (593) | |||
Country Acres [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 4,309 | |||
Initial Cost to Company, Land | 380 | |||
Initial Cost to Company, Depreciable Assets | 3,495 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 3,652 | |||
Carrying Amount, Land | 380 | |||
Carrying Amount, Depreciable Assets | 7,147 | |||
Carrying Amount, Total | 7,527 | |||
Accumulated Depreciation | (4,558) | |||
Country Hills Village [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 5,971 | |||
Initial Cost to Company, Land | 340 | |||
Initial Cost to Company, Depreciable Assets | 3,861 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 543 | |||
Carrying Amount, Land | 340 | |||
Carrying Amount, Depreciable Assets | 4,404 | |||
Carrying Amount, Total | 4,744 | |||
Accumulated Depreciation | (1,208) | |||
Country Lakes [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 0 | |||
Initial Cost to Company, Land | 1,746 | |||
Initial Cost to Company, Depreciable Assets | 5,522 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 2 | |||
Carrying Amount, Land | 1,746 | |||
Carrying Amount, Depreciable Assets | 5,524 | |||
Carrying Amount, Total | 7,270 | |||
Accumulated Depreciation | (92) | |||
Country Meadows Mobile [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 42,427 | |||
Initial Cost to Company, Land | 924 | |||
Initial Cost to Company, Depreciable Assets | 7,583 | |||
Cost Capitalized Subsequent to Acquisition, Land | 296 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 20,185 | |||
Carrying Amount, Land | 1,220 | |||
Carrying Amount, Depreciable Assets | 27,768 | |||
Carrying Amount, Total | 28,988 | |||
Accumulated Depreciation | (17,041) | |||
Country Meadows Village [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 0 | |||
Initial Cost to Company, Land | 550 | |||
Initial Cost to Company, Depreciable Assets | 5,555 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 7,440 | |||
Carrying Amount, Land | 550 | |||
Carrying Amount, Depreciable Assets | 12,995 | |||
Carrying Amount, Total | 13,545 | |||
Accumulated Depreciation | (2,816) | |||
Country Squire MH & RV Resort [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 0 | |||
Initial Cost to Company, Land | 520 | |||
Initial Cost to Company, Depreciable Assets | 1,719 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 2,113 | |||
Carrying Amount, Land | 520 | |||
Carrying Amount, Depreciable Assets | 3,832 | |||
Carrying Amount, Total | 4,352 | |||
Accumulated Depreciation | (433) | |||
Country Village [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 0 | |||
Initial Cost to Company, Land | 22,020 | |||
Initial Cost to Company, Depreciable Assets | 42,615 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 36 | |||
Carrying Amount, Land | 22,020 | |||
Carrying Amount, Depreciable Assets | 42,651 | |||
Carrying Amount, Total | 64,671 | |||
Accumulated Depreciation | (757) | |||
Countryside Estates [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 6,648 | |||
Initial Cost to Company, Land | 320 | |||
Initial Cost to Company, Depreciable Assets | 11,610 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 1,898 | |||
Carrying Amount, Land | 320 | |||
Carrying Amount, Depreciable Assets | 13,508 | |||
Carrying Amount, Total | 13,828 | |||
Accumulated Depreciation | (2,524) | |||
Countryside Village [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 0 | |||
Initial Cost to Company, Land | 430 | |||
Initial Cost to Company, Depreciable Assets | 7,157 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 987 | |||
Carrying Amount, Land | 430 | |||
Carrying Amount, Depreciable Assets | 8,144 | |||
Carrying Amount, Total | 8,574 | |||
Accumulated Depreciation | (1,556) | |||
Countryside Atlanta [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 0 | |||
Initial Cost to Company, Land | 1,274 | |||
Initial Cost to Company, Depreciable Assets | 10,957 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 11,931 | |||
Carrying Amount, Land | 1,274 | |||
Carrying Amount, Depreciable Assets | 22,888 | |||
Carrying Amount, Total | 24,162 | |||
Accumulated Depreciation | (6,998) | |||
Countryside Gwinnett [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 9,241 | |||
Initial Cost to Company, Land | 1,124 | |||
Initial Cost to Company, Depreciable Assets | 9,539 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 1,862 | |||
Carrying Amount, Land | 1,124 | |||
Carrying Amount, Depreciable Assets | 11,401 | |||
Carrying Amount, Total | 12,525 | |||
Accumulated Depreciation | (5,247) | |||
Countryside Lake Lanier [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 27,216 | |||
Initial Cost to Company, Land | 1,916 | |||
Initial Cost to Company, Depreciable Assets | 16,357 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 7,921 | |||
Carrying Amount, Land | 1,916 | |||
Carrying Amount, Depreciable Assets | 24,278 | |||
Carrying Amount, Total | 26,194 | |||
Accumulated Depreciation | (11,963) | |||
Craigleith [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 0 | |||
Initial Cost to Company, Land | 420 | |||
Initial Cost to Company, Depreciable Assets | 705 | |||
Cost Capitalized Subsequent to Acquisition, Land | (10) | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 671 | |||
Carrying Amount, Land | 410 | |||
Carrying Amount, Depreciable Assets | 1,376 | |||
Carrying Amount, Total | 1,786 | |||
Accumulated Depreciation | (118) | |||
Creeks Crossing [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 0 | |||
Initial Cost to Company, Land | 3,484 | |||
Initial Cost to Company, Depreciable Assets | 2 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 0 | |||
Carrying Amount, Land | 3,484 | |||
Carrying Amount, Depreciable Assets | 2 | |||
Carrying Amount, Total | 3,486 | |||
Accumulated Depreciation | 0 | |||
Creekwood Meadows [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 3,124 | |||
Initial Cost to Company, Land | 808 | |||
Initial Cost to Company, Depreciable Assets | 2,043 | |||
Cost Capitalized Subsequent to Acquisition, Land | 404 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 14,561 | |||
Carrying Amount, Land | 1,212 | |||
Carrying Amount, Depreciable Assets | 16,604 | |||
Carrying Amount, Total | 17,816 | |||
Accumulated Depreciation | (9,889) | |||
Crestwood [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 0 | |||
Initial Cost to Company, Land | 1,849 | |||
Initial Cost to Company, Depreciable Assets | 22,367 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 39 | |||
Carrying Amount, Land | 1,849 | |||
Carrying Amount, Depreciable Assets | 22,406 | |||
Carrying Amount, Total | 24,255 | |||
Accumulated Depreciation | (373) | |||
Crossroads [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 0 | |||
Initial Cost to Company, Land | 822 | |||
Initial Cost to Company, Depreciable Assets | 3,675 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 69 | |||
Carrying Amount, Land | 822 | |||
Carrying Amount, Depreciable Assets | 3,744 | |||
Carrying Amount, Total | 4,566 | |||
Accumulated Depreciation | (210) | |||
Cutler Estates [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 14,175 | |||
Initial Cost to Company, Land | 749 | |||
Initial Cost to Company, Depreciable Assets | 6,941 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 3,741 | |||
Carrying Amount, Land | 749 | |||
Carrying Amount, Depreciable Assets | 10,682 | |||
Carrying Amount, Total | 11,431 | |||
Accumulated Depreciation | (6,871) | |||
Cypress Greens [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 7,498 | |||
Initial Cost to Company, Land | 960 | |||
Initial Cost to Company, Depreciable Assets | 17,518 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 2,295 | |||
Carrying Amount, Land | 960 | |||
Carrying Amount, Depreciable Assets | 19,813 | |||
Carrying Amount, Total | 20,773 | |||
Accumulated Depreciation | (3,021) | |||
Daytona Beach RV Resort [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 0 | |||
Initial Cost to Company, Land | 2,300 | |||
Initial Cost to Company, Depreciable Assets | 7,158 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 3,930 | |||
Carrying Amount, Land | 2,300 | |||
Carrying Amount, Depreciable Assets | 11,088 | |||
Carrying Amount, Total | 13,388 | |||
Accumulated Depreciation | (1,266) | |||
Deep Run [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 0 | |||
Initial Cost to Company, Land | 2,020 | |||
Initial Cost to Company, Depreciable Assets | 13,053 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 3 | |||
Carrying Amount, Land | 2,020 | |||
Carrying Amount, Depreciable Assets | 13,056 | |||
Carrying Amount, Total | 15,076 | |||
Accumulated Depreciation | (218) | |||
Deer Lake RV Resort & Campground [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 0 | |||
Initial Cost to Company, Land | 2,830 | |||
Initial Cost to Company, Depreciable Assets | 4,260 | |||
Cost Capitalized Subsequent to Acquisition, Land | (67) | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 666 | |||
Carrying Amount, Land | 2,763 | |||
Carrying Amount, Depreciable Assets | 4,926 | |||
Carrying Amount, Total | 7,689 | |||
Accumulated Depreciation | (590) | |||
Deerfield Run [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 0 | |||
Initial Cost to Company, Land | 990 | |||
Initial Cost to Company, Depreciable Assets | 1,607 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 6,918 | |||
Carrying Amount, Land | 990 | |||
Carrying Amount, Depreciable Assets | 8,525 | |||
Carrying Amount, Total | 9,515 | |||
Accumulated Depreciation | (4,422) | |||
Deerwood [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 38,125 | |||
Initial Cost to Company, Land | 6,920 | |||
Initial Cost to Company, Depreciable Assets | 37,593 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 5,017 | |||
Carrying Amount, Land | 6,920 | |||
Carrying Amount, Depreciable Assets | 42,610 | |||
Carrying Amount, Total | 49,530 | |||
Accumulated Depreciation | (6,856) | |||
Desert Harbor [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 11,222 | |||
Initial Cost to Company, Land | 3,940 | |||
Initial Cost to Company, Depreciable Assets | 14,891 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 350 | |||
Carrying Amount, Land | 3,940 | |||
Carrying Amount, Depreciable Assets | 15,241 | |||
Carrying Amount, Total | 19,181 | |||
Accumulated Depreciation | (2,904) | |||
Driftwood RV Resort [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 17,328 | |||
Initial Cost to Company, Land | 1,450 | |||
Initial Cost to Company, Depreciable Assets | 29,851 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 3,134 | |||
Carrying Amount, Land | 1,450 | |||
Carrying Amount, Depreciable Assets | 32,985 | |||
Carrying Amount, Total | 34,435 | |||
Accumulated Depreciation | (6,962) | |||
Dunedin RV Resort [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 10,051 | |||
Initial Cost to Company, Land | 4,400 | |||
Initial Cost to Company, Depreciable Assets | 16,923 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 2,782 | |||
Carrying Amount, Land | 4,400 | |||
Carrying Amount, Depreciable Assets | 19,705 | |||
Carrying Amount, Total | 24,105 | |||
Accumulated Depreciation | (2,396) | |||
Dutton Mill Village [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 9,096 | |||
Initial Cost to Company, Land | 370 | |||
Initial Cost to Company, Depreciable Assets | 8,997 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 2,035 | |||
Carrying Amount, Land | 370 | |||
Carrying Amount, Depreciable Assets | 11,032 | |||
Carrying Amount, Total | 11,402 | |||
Accumulated Depreciation | (3,302) | |||
Eagle Crest [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 32,194 | |||
Initial Cost to Company, Land | 2,015 | |||
Initial Cost to Company, Depreciable Assets | 150 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 30,738 | |||
Carrying Amount, Land | 2,015 | |||
Carrying Amount, Depreciable Assets | 30,888 | |||
Carrying Amount, Total | 32,903 | |||
Accumulated Depreciation | (16,620) | |||
East Fork [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 0 | |||
Initial Cost to Company, Land | 1,280 | |||
Initial Cost to Company, Depreciable Assets | 6,302 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 18,904 | |||
Carrying Amount, Land | 1,280 | |||
Carrying Amount, Depreciable Assets | 25,206 | |||
Carrying Amount, Total | 26,486 | |||
Accumulated Depreciation | (11,822) | |||
East Village Estates [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 19,058 | |||
Initial Cost to Company, Land | 1,410 | |||
Initial Cost to Company, Depreciable Assets | 25,413 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 5,245 | |||
Carrying Amount, Land | 1,410 | |||
Carrying Amount, Depreciable Assets | 30,658 | |||
Carrying Amount, Total | 32,068 | |||
Accumulated Depreciation | (8,385) | |||
Egelcraft [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 19,195 | |||
Initial Cost to Company, Land | 690 | |||
Initial Cost to Company, Depreciable Assets | 22,596 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 2,713 | |||
Carrying Amount, Land | 690 | |||
Carrying Amount, Depreciable Assets | 25,309 | |||
Carrying Amount, Total | 25,999 | |||
Accumulated Depreciation | (5,026) | |||
Ellenton Gardens RV Resort [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 4,710 | |||
Initial Cost to Company, Land | 2,130 | |||
Initial Cost to Company, Depreciable Assets | 7,755 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 2,660 | |||
Carrying Amount, Land | 2,130 | |||
Carrying Amount, Depreciable Assets | 10,415 | |||
Carrying Amount, Total | 12,545 | |||
Accumulated Depreciation | (1,268) | |||
Emerald Coast [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 15,250 | |||
Initial Cost to Company, Land | 10,330 | |||
Initial Cost to Company, Depreciable Assets | 9,070 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 638 | |||
Carrying Amount, Land | 10,330 | |||
Carrying Amount, Depreciable Assets | 9,708 | |||
Carrying Amount, Total | 20,038 | |||
Accumulated Depreciation | (886) | |||
Fairfield Village [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 10,714 | |||
Initial Cost to Company, Land | 1,160 | |||
Initial Cost to Company, Depreciable Assets | 18,673 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 749 | |||
Carrying Amount, Land | 1,160 | |||
Carrying Amount, Depreciable Assets | 19,422 | |||
Carrying Amount, Total | 20,582 | |||
Accumulated Depreciation | (3,002) | |||
Farmwood Village [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 0 | |||
Initial Cost to Company, Land | 1,232 | |||
Initial Cost to Company, Depreciable Assets | 12,348 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 7 | |||
Carrying Amount, Land | 1,232 | |||
Carrying Amount, Depreciable Assets | 12,355 | |||
Carrying Amount, Total | 13,587 | |||
Accumulated Depreciation | (206) | |||
Fiesta Village [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 0 | |||
Initial Cost to Company, Land | 2,830 | |||
Initial Cost to Company, Depreciable Assets | 4,475 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 1,523 | |||
Carrying Amount, Land | 2,830 | |||
Carrying Amount, Depreciable Assets | 5,998 | |||
Carrying Amount, Total | 8,828 | |||
Accumulated Depreciation | (1,128) | |||
Fisherman's Cove [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 4,784 | |||
Initial Cost to Company, Land | 380 | |||
Initial Cost to Company, Depreciable Assets | 3,438 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 4,395 | |||
Carrying Amount, Land | 380 | |||
Carrying Amount, Depreciable Assets | 7,833 | |||
Carrying Amount, Total | 8,213 | |||
Accumulated Depreciation | (5,276) | |||
Forest Hill [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 0 | |||
Initial Cost to Company, Land | 5,170 | |||
Initial Cost to Company, Depreciable Assets | 10,775 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 17 | |||
Carrying Amount, Land | 5,170 | |||
Carrying Amount, Depreciable Assets | 10,792 | |||
Carrying Amount, Total | 15,962 | |||
Accumulated Depreciation | (180) | |||
Forest Meadows [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 2,508 | |||
Initial Cost to Company, Land | 1,031 | |||
Initial Cost to Company, Depreciable Assets | 2,050 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 754 | |||
Carrying Amount, Land | 1,031 | |||
Carrying Amount, Depreciable Assets | 2,804 | |||
Carrying Amount, Total | 3,835 | |||
Accumulated Depreciation | (1,519) | |||
Forest View [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 0 | |||
Initial Cost to Company, Land | 1,330 | |||
Initial Cost to Company, Depreciable Assets | 22,056 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 1,239 | |||
Carrying Amount, Land | 1,330 | |||
Carrying Amount, Depreciable Assets | 23,295 | |||
Carrying Amount, Total | 24,625 | |||
Accumulated Depreciation | (3,597) | |||
Forth Tatham RV Resort & Campground [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 0 | |||
Initial Cost to Company, Land | 110 | |||
Initial Cost to Company, Depreciable Assets | 760 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 946 | |||
Carrying Amount, Land | 110 | |||
Carrying Amount, Depreciable Assets | 1,706 | |||
Carrying Amount, Total | 1,816 | |||
Accumulated Depreciation | (206) | |||
Fort Whaley [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 0 | |||
Initial Cost to Company, Land | 510 | |||
Initial Cost to Company, Depreciable Assets | 5,194 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 8,817 | |||
Carrying Amount, Land | 510 | |||
Carrying Amount, Depreciable Assets | 14,011 | |||
Carrying Amount, Total | 14,521 | |||
Accumulated Depreciation | (1,479) | |||
Four Seasons [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 3,984 | |||
Initial Cost to Company, Land | 500 | |||
Initial Cost to Company, Depreciable Assets | 4,811 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 3,479 | |||
Carrying Amount, Land | 500 | |||
Carrying Amount, Depreciable Assets | 8,290 | |||
Carrying Amount, Total | 8,790 | |||
Accumulated Depreciation | (4,263) | |||
Frenchtown Villa District [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 29,333 | |||
Initial Cost to Company, Land | 1,450 | |||
Initial Cost to Company, Depreciable Assets | 52,327 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 28,838 | |||
Carrying Amount, Land | 1,450 | |||
Carrying Amount, Depreciable Assets | 81,165 | |||
Carrying Amount, Total | 82,615 | |||
Accumulated Depreciation | (14,657) | |||
Friendly Village of La Habra [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 33,205 | |||
Initial Cost to Company, Land | 26,956 | |||
Initial Cost to Company, Depreciable Assets | 25,202 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 1,403 | |||
Carrying Amount, Land | 26,956 | |||
Carrying Amount, Depreciable Assets | 26,605 | |||
Carrying Amount, Total | 53,561 | |||
Accumulated Depreciation | (3,323) | |||
Friendly Village of Modesto [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 17,244 | |||
Initial Cost to Company, Land | 6,260 | |||
Initial Cost to Company, Depreciable Assets | 20,885 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 1,630 | |||
Carrying Amount, Land | 6,260 | |||
Carrying Amount, Depreciable Assets | 22,515 | |||
Carrying Amount, Total | 28,775 | |||
Accumulated Depreciation | (2,645) | |||
Friendly Village of Simi [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 16,928 | |||
Initial Cost to Company, Land | 14,906 | |||
Initial Cost to Company, Depreciable Assets | 15,986 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 975 | |||
Carrying Amount, Land | 14,906 | |||
Carrying Amount, Depreciable Assets | 16,961 | |||
Carrying Amount, Total | 31,867 | |||
Accumulated Depreciation | (2,062) | |||
Friendly Village of West Covina [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 13,022 | |||
Initial Cost to Company, Land | 14,520 | |||
Initial Cost to Company, Depreciable Assets | 5,221 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 930 | |||
Carrying Amount, Land | 14,520 | |||
Carrying Amount, Depreciable Assets | 6,151 | |||
Carrying Amount, Total | 20,671 | |||
Accumulated Depreciation | (776) | |||
Frontier Town [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 0 | |||
Initial Cost to Company, Land | 18,960 | |||
Initial Cost to Company, Depreciable Assets | 43,166 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 28,633 | |||
Carrying Amount, Land | 18,960 | |||
Carrying Amount, Depreciable Assets | 71,799 | |||
Carrying Amount, Total | 90,759 | |||
Accumulated Depreciation | (8,946) | |||
Glen Ellis [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 3,900 | |||
Initial Cost to Company, Land | 448 | |||
Initial Cost to Company, Depreciable Assets | 5,798 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 1,511 | |||
Carrying Amount, Land | 448 | |||
Carrying Amount, Depreciable Assets | 7,309 | |||
Carrying Amount, Total | 7,757 | |||
Accumulated Depreciation | (104) | |||
Glen Haven RV Resort [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 5,322 | |||
Initial Cost to Company, Land | 1,980 | |||
Initial Cost to Company, Depreciable Assets | 8,373 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 1,454 | |||
Carrying Amount, Land | 1,980 | |||
Carrying Amount, Depreciable Assets | 9,827 | |||
Carrying Amount, Total | 11,807 | |||
Accumulated Depreciation | (1,248) | |||
Glen Laurel [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 0 | |||
Initial Cost to Company, Land | 1,641 | |||
Initial Cost to Company, Depreciable Assets | 453 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 12,562 | |||
Carrying Amount, Land | 1,641 | |||
Carrying Amount, Depreciable Assets | 13,015 | |||
Carrying Amount, Total | 14,656 | |||
Accumulated Depreciation | (7,063) | |||
Goldcoaster [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 13,427 | |||
Initial Cost to Company, Land | 446 | |||
Initial Cost to Company, Depreciable Assets | 4,234 | |||
Cost Capitalized Subsequent to Acquisition, Land | 172 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 6,658 | |||
Carrying Amount, Land | 618 | |||
Carrying Amount, Depreciable Assets | 10,892 | |||
Carrying Amount, Total | 11,510 | |||
Accumulated Depreciation | (5,560) | |||
Grand Bay [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 9,580 | |||
Initial Cost to Company, Land | 3,460 | |||
Initial Cost to Company, Depreciable Assets | 6,314 | |||
Cost Capitalized Subsequent to Acquisition, Land | (3,086) | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 1,466 | |||
Carrying Amount, Land | 374 | |||
Carrying Amount, Depreciable Assets | 7,780 | |||
Carrying Amount, Total | 8,154 | |||
Accumulated Depreciation | (4,127) | |||
Grand Lakes [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 0 | |||
Initial Cost to Company, Land | 5,280 | |||
Initial Cost to Company, Depreciable Assets | 4,501 | |||
Cost Capitalized Subsequent to Acquisition, Land | (1,820) | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 4,923 | |||
Carrying Amount, Land | 3,460 | |||
Carrying Amount, Depreciable Assets | 9,424 | |||
Carrying Amount, Total | 12,884 | |||
Accumulated Depreciation | (1,313) | |||
Grand [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 0 | |||
Initial Cost to Company, Land | 374 | |||
Initial Cost to Company, Depreciable Assets | 3,587 | |||
Cost Capitalized Subsequent to Acquisition, Land | 4,906 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 4,043 | |||
Carrying Amount, Land | 5,280 | |||
Carrying Amount, Depreciable Assets | 7,630 | |||
Carrying Amount, Total | 12,910 | |||
Accumulated Depreciation | (2,174) | |||
Grand Oaks RV Resort & Campground [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 0 | |||
Initial Cost to Company, Land | 970 | |||
Initial Cost to Company, Depreciable Assets | 4,220 | |||
Cost Capitalized Subsequent to Acquisition, Land | (23) | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 2,396 | |||
Carrying Amount, Land | 947 | |||
Carrying Amount, Depreciable Assets | 6,616 | |||
Carrying Amount, Total | 7,563 | |||
Accumulated Depreciation | (618) | |||
Grove Beach [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 0 | |||
Initial Cost to Company, Land | 1,221 | |||
Initial Cost to Company, Depreciable Assets | 10,225 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 22 | |||
Carrying Amount, Land | 1,221 | |||
Carrying Amount, Depreciable Assets | 10,247 | |||
Carrying Amount, Total | 11,468 | |||
Accumulated Depreciation | (170) | |||
Grove Ridge RV Resort [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 3,331 | |||
Initial Cost to Company, Land | 1,290 | |||
Initial Cost to Company, Depreciable Assets | 5,387 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 1,926 | |||
Carrying Amount, Land | 1,290 | |||
Carrying Amount, Depreciable Assets | 7,313 | |||
Carrying Amount, Total | 8,603 | |||
Accumulated Depreciation | (894) | |||
Groves [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 6,108 | |||
Initial Cost to Company, Land | 249 | |||
Initial Cost to Company, Depreciable Assets | 2,396 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 4,215 | |||
Carrying Amount, Land | 249 | |||
Carrying Amount, Depreciable Assets | 6,611 | |||
Carrying Amount, Total | 6,860 | |||
Accumulated Depreciation | (3,179) | |||
Gulfstream Harbor [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 0 | |||
Initial Cost to Company, Land | 14,510 | |||
Initial Cost to Company, Depreciable Assets | 78,930 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 5,464 | |||
Carrying Amount, Land | 14,510 | |||
Carrying Amount, Depreciable Assets | 84,394 | |||
Carrying Amount, Total | 98,904 | |||
Accumulated Depreciation | (13,105) | |||
Gulliver's Lake RV Resort & Campground [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 0 | |||
Initial Cost to Company, Land | 2,950 | |||
Initial Cost to Company, Depreciable Assets | 2,950 | |||
Cost Capitalized Subsequent to Acquisition, Land | (70) | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 1,044 | |||
Carrying Amount, Land | 2,880 | |||
Carrying Amount, Depreciable Assets | 3,994 | |||
Carrying Amount, Total | 6,874 | |||
Accumulated Depreciation | (432) | |||
Gwynn's Island [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 0 | |||
Initial Cost to Company, Land | 760 | |||
Initial Cost to Company, Depreciable Assets | 595 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 1,778 | |||
Carrying Amount, Land | 760 | |||
Carrying Amount, Depreciable Assets | 2,373 | |||
Carrying Amount, Total | 3,133 | |||
Accumulated Depreciation | (690) | |||
Hacienda del Rio [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 0 | |||
Initial Cost to Company, Land | 33,309 | |||
Initial Cost to Company, Depreciable Assets | 80,310 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 437 | |||
Carrying Amount, Land | 33,309 | |||
Carrying Amount, Depreciable Assets | 80,747 | |||
Carrying Amount, Total | 114,056 | |||
Accumulated Depreciation | (1,411) | |||
Hamlin [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 10,720 | |||
Initial Cost to Company, Land | 125 | |||
Initial Cost to Company, Depreciable Assets | 1,675 | |||
Cost Capitalized Subsequent to Acquisition, Land | 536 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 12,949 | |||
Carrying Amount, Land | 661 | |||
Carrying Amount, Depreciable Assets | 14,624 | |||
Carrying Amount, Total | 15,285 | |||
Accumulated Depreciation | (7,220) | |||
Hannah Village [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 0 | |||
Initial Cost to Company, Land | 365 | |||
Initial Cost to Company, Depreciable Assets | 4,705 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 0 | |||
Carrying Amount, Land | 365 | |||
Carrying Amount, Depreciable Assets | 4,705 | |||
Carrying Amount, Total | 5,070 | |||
Accumulated Depreciation | (78) | |||
Hemlocks [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 0 | |||
Initial Cost to Company, Land | 1,016 | |||
Initial Cost to Company, Depreciable Assets | 7,151 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 4 | |||
Carrying Amount, Land | 1,016 | |||
Carrying Amount, Depreciable Assets | 7,155 | |||
Carrying Amount, Total | 8,171 | |||
Accumulated Depreciation | (119) | |||
Heritage [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 13,208 | |||
Initial Cost to Company, Land | 13,200 | |||
Initial Cost to Company, Depreciable Assets | 7,877 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 1,090 | |||
Carrying Amount, Land | 13,200 | |||
Carrying Amount, Depreciable Assets | 8,967 | |||
Carrying Amount, Total | 22,167 | |||
Accumulated Depreciation | (1,115) | |||
Hickory Hills Village [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 0 | |||
Initial Cost to Company, Land | 760 | |||
Initial Cost to Company, Depreciable Assets | 7,697 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 2,441 | |||
Carrying Amount, Land | 760 | |||
Carrying Amount, Depreciable Assets | 10,138 | |||
Carrying Amount, Total | 10,898 | |||
Accumulated Depreciation | (3,357) | |||
Hid'n Pines [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 0 | |||
Initial Cost to Company, Land | 1,956 | |||
Initial Cost to Company, Depreciable Assets | 10,020 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 215 | |||
Carrying Amount, Land | 1,956 | |||
Carrying Amount, Depreciable Assets | 10,235 | |||
Carrying Amount, Total | 12,191 | |||
Accumulated Depreciation | (197) | |||
Hidden Ridge [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 0 | |||
Initial Cost to Company, Land | 440 | |||
Initial Cost to Company, Depreciable Assets | 893 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 3,788 | |||
Carrying Amount, Land | 440 | |||
Carrying Amount, Depreciable Assets | 4,681 | |||
Carrying Amount, Total | 5,121 | |||
Accumulated Depreciation | (1,209) | |||
Hidden River RV Resort [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 0 | |||
Initial Cost to Company, Land | 3,950 | |||
Initial Cost to Company, Depreciable Assets | 6,376 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 2,988 | |||
Carrying Amount, Land | 3,950 | |||
Carrying Amount, Depreciable Assets | 9,364 | |||
Carrying Amount, Total | 13,314 | |||
Accumulated Depreciation | (1,038) | |||
Hidden Valley RV Resort & Campground [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 0 | |||
Initial Cost to Company, Land | 2,610 | |||
Initial Cost to Company, Depreciable Assets | 4,170 | |||
Cost Capitalized Subsequent to Acquisition, Land | (62) | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 1,763 | |||
Carrying Amount, Land | 2,548 | |||
Carrying Amount, Depreciable Assets | 5,933 | |||
Carrying Amount, Total | 8,481 | |||
Accumulated Depreciation | (655) | |||
High Point [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 0 | |||
Initial Cost to Company, Land | 898 | |||
Initial Cost to Company, Depreciable Assets | 7,031 | |||
Cost Capitalized Subsequent to Acquisition, Land | (42) | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 7,715 | |||
Carrying Amount, Land | 856 | |||
Carrying Amount, Depreciable Assets | 14,746 | |||
Carrying Amount, Total | 15,602 | |||
Accumulated Depreciation | (7,216) | |||
Hill Country Cottage and RV Resort [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 0 | |||
Initial Cost to Company, Land | 3,790 | |||
Initial Cost to Company, Depreciable Assets | 27,200 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 3,239 | |||
Carrying Amount, Land | 3,790 | |||
Carrying Amount, Depreciable Assets | 30,439 | |||
Carrying Amount, Total | 34,229 | |||
Accumulated Depreciation | (4,246) | |||
Hillcrest [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 0 | |||
Initial Cost to Company, Land | 10,670 | |||
Initial Cost to Company, Depreciable Assets | 9,607 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 4 | |||
Carrying Amount, Land | 10,670 | |||
Carrying Amount, Depreciable Assets | 9,611 | |||
Carrying Amount, Total | 20,281 | |||
Accumulated Depreciation | (160) | |||
Holiday West Village [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 14,109 | |||
Initial Cost to Company, Land | 340 | |||
Initial Cost to Company, Depreciable Assets | 8,067 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 556 | |||
Carrying Amount, Land | 340 | |||
Carrying Amount, Depreciable Assets | 8,623 | |||
Carrying Amount, Total | 8,963 | |||
Accumulated Depreciation | (2,477) | |||
Holly Forest [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 24,733 | |||
Initial Cost to Company, Land | 920 | |||
Initial Cost to Company, Depreciable Assets | 8,376 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 1,194 | |||
Carrying Amount, Land | 920 | |||
Carrying Amount, Depreciable Assets | 9,570 | |||
Carrying Amount, Total | 10,490 | |||
Accumulated Depreciation | (6,623) | |||
Holly Village/Hawaiian Gardens [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 19,865 | |||
Initial Cost to Company, Land | 1,514 | |||
Initial Cost to Company, Depreciable Assets | 13,596 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 7,455 | |||
Carrying Amount, Land | 1,514 | |||
Carrying Amount, Depreciable Assets | 21,051 | |||
Carrying Amount, Total | 22,565 | |||
Accumulated Depreciation | (9,310) | |||
Homosassa River RV Resort [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 0 | |||
Initial Cost to Company, Land | 1,520 | |||
Initial Cost to Company, Depreciable Assets | 5,020 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 2,693 | |||
Carrying Amount, Land | 1,520 | |||
Carrying Amount, Depreciable Assets | 7,713 | |||
Carrying Amount, Total | 9,233 | |||
Accumulated Depreciation | (882) | |||
Horseshoe Cove RV Resort [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 19,880 | |||
Initial Cost to Company, Land | 9,466 | |||
Initial Cost to Company, Depreciable Assets | 32,612 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 3,387 | |||
Carrying Amount, Land | 9,466 | |||
Carrying Amount, Depreciable Assets | 35,999 | |||
Carrying Amount, Total | 45,465 | |||
Accumulated Depreciation | (4,464) | |||
Hunters Crossing [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 0 | |||
Initial Cost to Company, Land | 430 | |||
Initial Cost to Company, Depreciable Assets | 1,092 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 1,461 | |||
Carrying Amount, Land | 430 | |||
Carrying Amount, Depreciable Assets | 2,553 | |||
Carrying Amount, Total | 2,983 | |||
Accumulated Depreciation | (612) | |||
Hunters Glen [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 0 | |||
Initial Cost to Company, Land | 1,102 | |||
Initial Cost to Company, Depreciable Assets | 11,926 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 16,790 | |||
Carrying Amount, Land | 1,102 | |||
Carrying Amount, Depreciable Assets | 28,716 | |||
Carrying Amount, Total | 29,818 | |||
Accumulated Depreciation | (10,020) | |||
Hyde Park [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 0 | |||
Initial Cost to Company, Land | 6,585 | |||
Initial Cost to Company, Depreciable Assets | 18,256 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 5 | |||
Carrying Amount, Land | 6,585 | |||
Carrying Amount, Depreciable Assets | 18,261 | |||
Carrying Amount, Total | 24,846 | |||
Accumulated Depreciation | (304) | |||
Indian Creek [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 62,296 | |||
Initial Cost to Company, Land | 3,832 | |||
Initial Cost to Company, Depreciable Assets | 34,660 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 12,720 | |||
Carrying Amount, Land | 3,832 | |||
Carrying Amount, Depreciable Assets | 47,380 | |||
Carrying Amount, Total | 51,212 | |||
Accumulated Depreciation | (31,761) | |||
indian Creek (OH) [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 0 | |||
Initial Cost to Company, Land | 420 | |||
Initial Cost to Company, Depreciable Assets | 20,791 | |||
Cost Capitalized Subsequent to Acquisition, Land | (5) | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 8,738 | |||
Carrying Amount, Land | 415 | |||
Carrying Amount, Depreciable Assets | 29,529 | |||
Carrying Amount, Total | 29,944 | |||
Accumulated Depreciation | (6,246) | |||
Indian Wells RV Resort [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 11,534 | |||
Initial Cost to Company, Land | 2,880 | |||
Initial Cost to Company, Depreciable Assets | 19,470 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 4,599 | |||
Carrying Amount, Land | 2,880 | |||
Carrying Amount, Depreciable Assets | 24,069 | |||
Carrying Amount, Total | 26,949 | |||
Accumulated Depreciation | (2,817) | |||
Island Lake [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 11,569 | |||
Initial Cost to Company, Land | 700 | |||
Initial Cost to Company, Depreciable Assets | 6,431 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 1,020 | |||
Carrying Amount, Land | 700 | |||
Carrying Amount, Depreciable Assets | 7,451 | |||
Carrying Amount, Total | 8,151 | |||
Accumulated Depreciation | (5,495) | |||
Jellystone at Birchwood [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 3,821 | |||
Initial Cost to Company, Land | 560 | |||
Initial Cost to Company, Depreciable Assets | 5,527 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 9,540 | |||
Carrying Amount, Land | 560 | |||
Carrying Amount, Depreciable Assets | 15,067 | |||
Carrying Amount, Total | 15,627 | |||
Accumulated Depreciation | (3,513) | |||
Jellystone Park At Gardiner [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 0 | |||
Initial Cost to Company, Land | 873 | |||
Initial Cost to Company, Depreciable Assets | 28,406 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 3,807 | |||
Carrying Amount, Land | 873 | |||
Carrying Amount, Depreciable Assets | 32,213 | |||
Carrying Amount, Total | 33,086 | |||
Accumulated Depreciation | (2,090) | |||
Jellystone Park At Golden Valley [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 0 | |||
Initial Cost to Company, Land | 4,829 | |||
Initial Cost to Company, Depreciable Assets | 4,260 | |||
Cost Capitalized Subsequent to Acquisition, Land | (9) | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 24,740 | |||
Carrying Amount, Land | 4,820 | |||
Carrying Amount, Depreciable Assets | 29,000 | |||
Carrying Amount, Total | 33,820 | |||
Accumulated Depreciation | (1,107) | |||
Jellystone Park At Guadalupe River [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 0 | |||
Initial Cost to Company, Land | 2,519 | |||
Initial Cost to Company, Depreciable Assets | 23,939 | |||
Cost Capitalized Subsequent to Acquisition, Land | (2) | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 2,718 | |||
Carrying Amount, Land | 2,517 | |||
Carrying Amount, Depreciable Assets | 26,657 | |||
Carrying Amount, Total | 29,174 | |||
Accumulated Depreciation | (1,761) | |||
Jellystone Park At Hill Country [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 0 | |||
Initial Cost to Company, Land | 1,991 | |||
Initial Cost to Company, Depreciable Assets | 20,709 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 821 | |||
Carrying Amount, Land | 1,991 | |||
Carrying Amount, Depreciable Assets | 21,530 | |||
Carrying Amount, Total | 23,521 | |||
Accumulated Depreciation | (1,287) | |||
Jellystone Park at Larkspur [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 0 | |||
Initial Cost to Company, Land | 1,880 | |||
Initial Cost to Company, Depreciable Assets | 5,521 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 35,067 | |||
Carrying Amount, Land | 1,880 | |||
Carrying Amount, Depreciable Assets | 40,588 | |||
Carrying Amount, Total | 42,468 | |||
Accumulated Depreciation | (134) | |||
Jellystone Park At Luray [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 0 | |||
Initial Cost to Company, Land | 3,164 | |||
Initial Cost to Company, Depreciable Assets | 29,588 | |||
Cost Capitalized Subsequent to Acquisition, Land | (1) | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 1,058 | |||
Carrying Amount, Land | 3,163 | |||
Carrying Amount, Depreciable Assets | 30,646 | |||
Carrying Amount, Total | 33,809 | |||
Accumulated Depreciation | (1,938) | |||
Jellystone Park At Maryland [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 0 | |||
Initial Cost to Company, Land | 2,096 | |||
Initial Cost to Company, Depreciable Assets | 23,737 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 1,486 | |||
Carrying Amount, Land | 2,096 | |||
Carrying Amount, Depreciable Assets | 25,223 | |||
Carrying Amount, Total | 27,319 | |||
Accumulated Depreciation | (1,655) | |||
Jellystone Park At Memphis [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 2,830 | |||
Initial Cost to Company, Land | 889 | |||
Initial Cost to Company, Depreciable Assets | 6,846 | |||
Cost Capitalized Subsequent to Acquisition, Land | 3 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 132 | |||
Carrying Amount, Land | 892 | |||
Carrying Amount, Depreciable Assets | 6,978 | |||
Carrying Amount, Total | 7,870 | |||
Accumulated Depreciation | (447) | |||
Jellystone Park At Quarryville [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 0 | |||
Initial Cost to Company, Land | 3,882 | |||
Initial Cost to Company, Depreciable Assets | 33,781 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 1,297 | |||
Carrying Amount, Land | 3,882 | |||
Carrying Amount, Depreciable Assets | 35,078 | |||
Carrying Amount, Total | 38,960 | |||
Accumulated Depreciation | (2,197) | |||
Jellystone Park At Tower Park [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 0 | |||
Initial Cost to Company, Land | 2,560 | |||
Initial Cost to Company, Depreciable Assets | 29,819 | |||
Cost Capitalized Subsequent to Acquisition, Land | (1) | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 6,917 | |||
Carrying Amount, Land | 2,559 | |||
Carrying Amount, Depreciable Assets | 36,736 | |||
Carrying Amount, Total | 39,295 | |||
Accumulated Depreciation | (2,139) | |||
Jellystone Park Of Western New York [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 6,537 | |||
Initial Cost to Company, Land | 870 | |||
Initial Cost to Company, Depreciable Assets | 8,884 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 6,912 | |||
Carrying Amount, Land | 870 | |||
Carrying Amount, Depreciable Assets | 15,796 | |||
Carrying Amount, Total | 16,666 | |||
Accumulated Depreciation | (4,306) | |||
Kensington Meadows [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 17,725 | |||
Initial Cost to Company, Land | 250 | |||
Initial Cost to Company, Depreciable Assets | 2,699 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 8,932 | |||
Carrying Amount, Land | 250 | |||
Carrying Amount, Depreciable Assets | 11,631 | |||
Carrying Amount, Total | 11,881 | |||
Accumulated Depreciation | (7,199) | |||
Kimberly Estates [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 0 | |||
Initial Cost to Company, Land | 1,250 | |||
Initial Cost to Company, Depreciable Assets | 6,160 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 11,017 | |||
Carrying Amount, Land | 1,250 | |||
Carrying Amount, Depreciable Assets | 17,177 | |||
Carrying Amount, Total | 18,427 | |||
Accumulated Depreciation | (2,788) | |||
King's Court [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 0 | |||
Initial Cost to Company, Land | 1,473 | |||
Initial Cost to Company, Depreciable Assets | 13,782 | |||
Cost Capitalized Subsequent to Acquisition, Land | 269 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 17,941 | |||
Carrying Amount, Land | 1,742 | |||
Carrying Amount, Depreciable Assets | 31,723 | |||
Carrying Amount, Total | 33,465 | |||
Accumulated Depreciation | (13,441) | |||
King's Lake [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 8,899 | |||
Initial Cost to Company, Land | 280 | |||
Initial Cost to Company, Depreciable Assets | 2,542 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 2,943 | |||
Carrying Amount, Land | 280 | |||
Carrying Amount, Depreciable Assets | 5,485 | |||
Carrying Amount, Total | 5,765 | |||
Accumulated Depreciation | (3,641) | |||
Kings Manor [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 0 | |||
Initial Cost to Company, Land | 2,270 | |||
Initial Cost to Company, Depreciable Assets | 5,578 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 4,985 | |||
Carrying Amount, Land | 2,270 | |||
Carrying Amount, Depreciable Assets | 10,563 | |||
Carrying Amount, Total | 12,833 | |||
Accumulated Depreciation | (1,283) | |||
King's Pointe [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 7,847 | |||
Initial Cost to Company, Land | 510 | |||
Initial Cost to Company, Depreciable Assets | 16,763 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 517 | |||
Carrying Amount, Land | 510 | |||
Carrying Amount, Depreciable Assets | 17,280 | |||
Carrying Amount, Total | 17,790 | |||
Accumulated Depreciation | (2,664) | |||
Kissimmee Gardens [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 0 | |||
Initial Cost to Company, Land | 3,270 | |||
Initial Cost to Company, Depreciable Assets | 14,402 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 1,479 | |||
Carrying Amount, Land | 3,270 | |||
Carrying Amount, Depreciable Assets | 15,881 | |||
Carrying Amount, Total | 19,151 | |||
Accumulated Depreciation | (1,918) | |||
Kissimmee South RV Resort [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 0 | |||
Initial Cost to Company, Land | 3,740 | |||
Initial Cost to Company, Depreciable Assets | 6,819 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 4,329 | |||
Carrying Amount, Land | 3,740 | |||
Carrying Amount, Depreciable Assets | 11,148 | |||
Carrying Amount, Total | 14,888 | |||
Accumulated Depreciation | (1,195) | |||
Knollwood Estates [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 2,418 | |||
Initial Cost to Company, Land | 400 | |||
Initial Cost to Company, Depreciable Assets | 4,061 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 3,472 | |||
Carrying Amount, Land | 400 | |||
Carrying Amount, Depreciable Assets | 7,533 | |||
Carrying Amount, Total | 7,933 | |||
Accumulated Depreciation | (4,115) | |||
La Casa Blanca [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 7,758 | |||
Initial Cost to Company, Land | 4,370 | |||
Initial Cost to Company, Depreciable Assets | 14,142 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 616 | |||
Carrying Amount, Land | 4,370 | |||
Carrying Amount, Depreciable Assets | 14,758 | |||
Carrying Amount, Total | 19,128 | |||
Accumulated Depreciation | (2,821) | |||
La Costa Village [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 51,088 | |||
Initial Cost to Company, Land | 3,640 | |||
Initial Cost to Company, Depreciable Assets | 62,315 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 2,025 | |||
Carrying Amount, Land | 3,640 | |||
Carrying Amount, Depreciable Assets | 64,340 | |||
Carrying Amount, Total | 67,980 | |||
Accumulated Depreciation | (9,854) | |||
La Hacienda RV Resort [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 0 | |||
Initial Cost to Company, Land | 3,670 | |||
Initial Cost to Company, Depreciable Assets | 22,225 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 965 | |||
Carrying Amount, Land | 3,670 | |||
Carrying Amount, Depreciable Assets | 23,190 | |||
Carrying Amount, Total | 26,860 | |||
Accumulated Depreciation | (4,396) | |||
Lafayette Place [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 2,069 | |||
Initial Cost to Company, Land | 669 | |||
Initial Cost to Company, Depreciable Assets | 5,979 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 7,864 | |||
Carrying Amount, Land | 669 | |||
Carrying Amount, Depreciable Assets | 13,843 | |||
Carrying Amount, Total | 14,512 | |||
Accumulated Depreciation | (8,178) | |||
Lafontaine RV Resort & Campground [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 0 | |||
Initial Cost to Company, Land | 1,290 | |||
Initial Cost to Company, Depreciable Assets | 2,075 | |||
Cost Capitalized Subsequent to Acquisition, Land | (31) | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 2,561 | |||
Carrying Amount, Land | 1,259 | |||
Carrying Amount, Depreciable Assets | 4,636 | |||
Carrying Amount, Total | 5,895 | |||
Accumulated Depreciation | (386) | |||
Lake Avenue RV Resort & Campground [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 0 | |||
Initial Cost to Company, Land | 670 | |||
Initial Cost to Company, Depreciable Assets | 1,290 | |||
Cost Capitalized Subsequent to Acquisition, Land | (16) | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 725 | |||
Carrying Amount, Land | 654 | |||
Carrying Amount, Depreciable Assets | 2,015 | |||
Carrying Amount, Total | 2,669 | |||
Accumulated Depreciation | (242) | |||
Lake In Wood [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 10,066 | |||
Initial Cost to Company, Land | 7,360 | |||
Initial Cost to Company, Depreciable Assets | 7,097 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 2,834 | |||
Carrying Amount, Land | 7,360 | |||
Carrying Amount, Depreciable Assets | 9,931 | |||
Carrying Amount, Total | 17,291 | |||
Accumulated Depreciation | (2,703) | |||
Lake Josephine RV Resort [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 0 | |||
Initial Cost to Company, Land | 490 | |||
Initial Cost to Company, Depreciable Assets | 2,830 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 1,025 | |||
Carrying Amount, Land | 490 | |||
Carrying Amount, Depreciable Assets | 3,855 | |||
Carrying Amount, Total | 4,345 | |||
Accumulated Depreciation | (310) | |||
Lake Juliana [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 7,935 | |||
Initial Cost to Company, Land | 335 | |||
Initial Cost to Company, Depreciable Assets | 3,048 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 1,880 | |||
Carrying Amount, Land | 335 | |||
Carrying Amount, Depreciable Assets | 4,928 | |||
Carrying Amount, Total | 5,263 | |||
Accumulated Depreciation | (3,327) | |||
Lake Pointe Village [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 18,211 | |||
Initial Cost to Company, Land | 480 | |||
Initial Cost to Company, Depreciable Assets | 29,795 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 516 | |||
Carrying Amount, Land | 480 | |||
Carrying Amount, Depreciable Assets | 30,311 | |||
Carrying Amount, Total | 30,791 | |||
Accumulated Depreciation | (4,642) | |||
Lake Rudolph RV Resort & Campground [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 16,788 | |||
Initial Cost to Company, Land | 2,340 | |||
Initial Cost to Company, Depreciable Assets | 28,113 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 9,197 | |||
Carrying Amount, Land | 2,340 | |||
Carrying Amount, Depreciable Assets | 37,310 | |||
Carrying Amount, Total | 39,650 | |||
Accumulated Depreciation | (9,933) | |||
Lake San Marino [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 9,371 | |||
Initial Cost to Company, Land | 650 | |||
Initial Cost to Company, Depreciable Assets | 5,760 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 5,134 | |||
Carrying Amount, Land | 650 | |||
Carrying Amount, Depreciable Assets | 10,894 | |||
Carrying Amount, Total | 11,544 | |||
Accumulated Depreciation | (6,033) | |||
Lakefront [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 26,751 | |||
Initial Cost to Company, Land | 21,556 | |||
Initial Cost to Company, Depreciable Assets | 17,440 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 1,078 | |||
Carrying Amount, Land | 21,556 | |||
Carrying Amount, Depreciable Assets | 18,518 | |||
Carrying Amount, Total | 40,074 | |||
Accumulated Depreciation | (2,273) | |||
Lakeland RV Resort [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 0 | |||
Initial Cost to Company, Land | 1,730 | |||
Initial Cost to Company, Depreciable Assets | 5,524 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 2,889 | |||
Carrying Amount, Land | 1,730 | |||
Carrying Amount, Depreciable Assets | 8,413 | |||
Carrying Amount, Total | 10,143 | |||
Accumulated Depreciation | (924) | |||
Lakeshore Landings [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 13,395 | |||
Initial Cost to Company, Land | 2,570 | |||
Initial Cost to Company, Depreciable Assets | 19,481 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 1,395 | |||
Carrying Amount, Land | 2,570 | |||
Carrying Amount, Depreciable Assets | 20,876 | |||
Carrying Amount, Total | 23,446 | |||
Accumulated Depreciation | (3,987) | |||
Lakeshore Villas [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 0 | |||
Initial Cost to Company, Land | 3,080 | |||
Initial Cost to Company, Depreciable Assets | 18,983 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 1,085 | |||
Carrying Amount, Land | 3,080 | |||
Carrying Amount, Depreciable Assets | 20,068 | |||
Carrying Amount, Total | 23,148 | |||
Accumulated Depreciation | (3,065) | |||
Lakeside [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 0 | |||
Initial Cost to Company, Land | 1,278 | |||
Initial Cost to Company, Depreciable Assets | 3,445 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 13 | |||
Carrying Amount, Land | 1,278 | |||
Carrying Amount, Depreciable Assets | 3,458 | |||
Carrying Amount, Total | 4,736 | |||
Accumulated Depreciation | (57) | |||
Lakeside Crossing [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 13,056 | |||
Initial Cost to Company, Land | 3,520 | |||
Initial Cost to Company, Depreciable Assets | 31,615 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 13,044 | |||
Carrying Amount, Land | 3,520 | |||
Carrying Amount, Depreciable Assets | 44,659 | |||
Carrying Amount, Total | 48,179 | |||
Accumulated Depreciation | (5,531) | |||
Lakeview [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 0 | |||
Initial Cost to Company, Land | 1,156 | |||
Initial Cost to Company, Depreciable Assets | 10,903 | |||
Cost Capitalized Subsequent to Acquisition, Land | (1) | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 7,594 | |||
Carrying Amount, Land | 1,155 | |||
Carrying Amount, Depreciable Assets | 18,497 | |||
Carrying Amount, Total | 19,652 | |||
Accumulated Depreciation | (8,868) | |||
Lakeview CT [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 0 | |||
Initial Cost to Company, Land | 2,545 | |||
Initial Cost to Company, Depreciable Assets | 8,884 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 34 | |||
Carrying Amount, Land | 2,545 | |||
Carrying Amount, Depreciable Assets | 8,918 | |||
Carrying Amount, Total | 11,463 | |||
Accumulated Depreciation | (148) | |||
Lamplighter [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 7,276 | |||
Initial Cost to Company, Land | 1,330 | |||
Initial Cost to Company, Depreciable Assets | 12,846 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 961 | |||
Carrying Amount, Land | 1,330 | |||
Carrying Amount, Depreciable Assets | 13,807 | |||
Carrying Amount, Total | 15,137 | |||
Accumulated Depreciation | (2,098) | |||
Laurel Heights [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 0 | |||
Initial Cost to Company, Land | 1,678 | |||
Initial Cost to Company, Depreciable Assets | 693 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 0 | |||
Carrying Amount, Land | 1,678 | |||
Carrying Amount, Depreciable Assets | 693 | |||
Carrying Amount, Total | 2,371 | |||
Accumulated Depreciation | (12) | |||
Lazy J Ranch [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 0 | |||
Initial Cost to Company, Land | 7,100 | |||
Initial Cost to Company, Depreciable Assets | 6,838 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 134 | |||
Carrying Amount, Land | 7,100 | |||
Carrying Amount, Depreciable Assets | 6,972 | |||
Carrying Amount, Total | 14,072 | |||
Accumulated Depreciation | (628) | |||
Leaf Verde RV Resort [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 0 | |||
Initial Cost to Company, Land | 3,417 | |||
Initial Cost to Company, Depreciable Assets | 8,437 | |||
Cost Capitalized Subsequent to Acquisition, Land | 12 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 534 | |||
Carrying Amount, Land | 3,429 | |||
Carrying Amount, Depreciable Assets | 8,971 | |||
Carrying Amount, Total | 12,400 | |||
Accumulated Depreciation | (475) | |||
Leisure Point Resort [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 0 | |||
Initial Cost to Company, Land | 3,628 | |||
Initial Cost to Company, Depreciable Assets | 41,291 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 17 | |||
Carrying Amount, Land | 3,628 | |||
Carrying Amount, Depreciable Assets | 41,308 | |||
Carrying Amount, Total | 44,936 | |||
Accumulated Depreciation | (713) | |||
Leisure Village [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 0 | |||
Initial Cost to Company, Land | 360 | |||
Initial Cost to Company, Depreciable Assets | 8,219 | |||
Cost Capitalized Subsequent to Acquisition, Land | 113 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 2,138 | |||
Carrying Amount, Land | 473 | |||
Carrying Amount, Depreciable Assets | 10,357 | |||
Carrying Amount, Total | 10,830 | |||
Accumulated Depreciation | (2,593) | |||
Lemon Wood [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 19,434 | |||
Initial Cost to Company, Land | 19,540 | |||
Initial Cost to Company, Depreciable Assets | 6,918 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 1,162 | |||
Carrying Amount, Land | 19,540 | |||
Carrying Amount, Depreciable Assets | 8,080 | |||
Carrying Amount, Total | 27,620 | |||
Accumulated Depreciation | (990) | |||
Liberty Farms [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 0 | |||
Initial Cost to Company, Land | 66 | |||
Initial Cost to Company, Depreciable Assets | 1,201 | |||
Cost Capitalized Subsequent to Acquisition, Land | 116 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 4,168 | |||
Carrying Amount, Land | 182 | |||
Carrying Amount, Depreciable Assets | 5,369 | |||
Carrying Amount, Total | 5,551 | |||
Accumulated Depreciation | (2,936) | |||
Lincoln Estates [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 0 | |||
Initial Cost to Company, Land | 455 | |||
Initial Cost to Company, Depreciable Assets | 4,201 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 2,148 | |||
Carrying Amount, Land | 455 | |||
Carrying Amount, Depreciable Assets | 6,349 | |||
Carrying Amount, Total | 6,804 | |||
Accumulated Depreciation | (3,910) | |||
Long Beach RV Resort & Campground [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 0 | |||
Initial Cost to Company, Land | 710 | |||
Initial Cost to Company, Depreciable Assets | 3,414 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 1,268 | |||
Carrying Amount, Land | 710 | |||
Carrying Amount, Depreciable Assets | 4,682 | |||
Carrying Amount, Total | 5,392 | |||
Accumulated Depreciation | (548) | |||
Majestic Oaks RV Resort [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 4,465 | |||
Initial Cost to Company, Land | 3,940 | |||
Initial Cost to Company, Depreciable Assets | 4,725 | |||
Cost Capitalized Subsequent to Acquisition, Land | 28 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 1,972 | |||
Carrying Amount, Land | 3,968 | |||
Carrying Amount, Depreciable Assets | 6,697 | |||
Carrying Amount, Total | 10,665 | |||
Accumulated Depreciation | (867) | |||
Maple Brook [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 41,935 | |||
Initial Cost to Company, Land | 8,460 | |||
Initial Cost to Company, Depreciable Assets | 48,865 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 642 | |||
Carrying Amount, Land | 8,460 | |||
Carrying Amount, Depreciable Assets | 49,507 | |||
Carrying Amount, Total | 57,967 | |||
Accumulated Depreciation | (9,375) | |||
Maplewood Manor [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 7,884 | |||
Initial Cost to Company, Land | 1,770 | |||
Initial Cost to Company, Depreciable Assets | 12,982 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 1,798 | |||
Carrying Amount, Land | 1,770 | |||
Carrying Amount, Depreciable Assets | 14,780 | |||
Carrying Amount, Total | 16,550 | |||
Accumulated Depreciation | (2,747) | |||
Marco Naples RV Resort [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 0 | |||
Initial Cost to Company, Land | 2,790 | |||
Initial Cost to Company, Depreciable Assets | 10,458 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 3,543 | |||
Carrying Amount, Land | 2,790 | |||
Carrying Amount, Depreciable Assets | 14,001 | |||
Carrying Amount, Total | 16,791 | |||
Accumulated Depreciation | (1,601) | |||
Marina Cove [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 0 | |||
Initial Cost to Company, Land | 262 | |||
Initial Cost to Company, Depreciable Assets | 365 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 0 | |||
Carrying Amount, Land | 262 | |||
Carrying Amount, Depreciable Assets | 365 | |||
Carrying Amount, Total | 627 | |||
Accumulated Depreciation | (6) | |||
Massey's Landing [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 0 | |||
Initial Cost to Company, Land | 2,755 | |||
Initial Cost to Company, Depreciable Assets | 17,948 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 16,507 | |||
Carrying Amount, Land | 2,755 | |||
Carrying Amount, Depreciable Assets | 34,455 | |||
Carrying Amount, Total | 37,210 | |||
Accumulated Depreciation | (321) | |||
Meadow Lake Estates [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 0 | |||
Initial Cost to Company, Land | 1,188 | |||
Initial Cost to Company, Depreciable Assets | 11,498 | |||
Cost Capitalized Subsequent to Acquisition, Land | 127 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 7,899 | |||
Carrying Amount, Land | 1,315 | |||
Carrying Amount, Depreciable Assets | 19,397 | |||
Carrying Amount, Total | 20,712 | |||
Accumulated Depreciation | (14,011) | |||
Meadowbrook [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 0 | |||
Initial Cost to Company, Land | 1,310 | |||
Initial Cost to Company, Depreciable Assets | 6,570 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 14,017 | |||
Carrying Amount, Land | 1,310 | |||
Carrying Amount, Depreciable Assets | 20,587 | |||
Carrying Amount, Total | 21,897 | |||
Accumulated Depreciation | (10,131) | |||
Meadowbrook Estates [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 13,050 | |||
Initial Cost to Company, Land | 431 | |||
Initial Cost to Company, Depreciable Assets | 3,320 | |||
Cost Capitalized Subsequent to Acquisition, Land | 379 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 15,646 | |||
Carrying Amount, Land | 810 | |||
Carrying Amount, Depreciable Assets | 18,966 | |||
Carrying Amount, Total | 19,776 | |||
Accumulated Depreciation | (11,101) | |||
Meadowbrook Village [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 11,738 | |||
Initial Cost to Company, Land | 519 | |||
Initial Cost to Company, Depreciable Assets | 4,728 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 1,209 | |||
Carrying Amount, Land | 519 | |||
Carrying Amount, Depreciable Assets | 5,937 | |||
Carrying Amount, Total | 6,456 | |||
Accumulated Depreciation | (4,499) | |||
Meadowlands of Gibraltar [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 5,087 | |||
Initial Cost to Company, Land | 640 | |||
Initial Cost to Company, Depreciable Assets | 7,673 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 4,739 | |||
Carrying Amount, Land | 640 | |||
Carrying Amount, Depreciable Assets | 12,412 | |||
Carrying Amount, Total | 13,052 | |||
Accumulated Depreciation | (2,353) | |||
Merrymeeting [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 0 | |||
Initial Cost to Company, Land | 250 | |||
Initial Cost to Company, Depreciable Assets | 1,020 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 1,147 | |||
Carrying Amount, Land | 250 | |||
Carrying Amount, Depreciable Assets | 2,167 | |||
Carrying Amount, Total | 2,417 | |||
Accumulated Depreciation | (432) | |||
Mi-Te-Jo Campground [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 0 | |||
Initial Cost to Company, Land | 1,416 | |||
Initial Cost to Company, Depreciable Assets | 7,580 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 1,594 | |||
Carrying Amount, Land | 1,416 | |||
Carrying Amount, Depreciable Assets | 9,174 | |||
Carrying Amount, Total | 10,590 | |||
Accumulated Depreciation | (599) | |||
Mill Creek RV Resort [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 0 | |||
Initial Cost to Company, Land | 1,400 | |||
Initial Cost to Company, Depreciable Assets | 4,839 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 3,815 | |||
Carrying Amount, Land | 1,400 | |||
Carrying Amount, Depreciable Assets | 8,654 | |||
Carrying Amount, Total | 10,054 | |||
Accumulated Depreciation | (975) | |||
Millwood [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 0 | |||
Initial Cost to Company, Land | 2,425 | |||
Initial Cost to Company, Depreciable Assets | 8 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 0 | |||
Carrying Amount, Land | 2,425 | |||
Carrying Amount, Depreciable Assets | 8 | |||
Carrying Amount, Total | 2,433 | |||
Accumulated Depreciation | 0 | |||
Moab Valley [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 0 | |||
Initial Cost to Company, Land | 3,693 | |||
Initial Cost to Company, Depreciable Assets | 8,732 | |||
Cost Capitalized Subsequent to Acquisition, Land | 1 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 526 | |||
Carrying Amount, Land | 3,694 | |||
Carrying Amount, Depreciable Assets | 9,258 | |||
Carrying Amount, Total | 12,952 | |||
Accumulated Depreciation | (542) | |||
Mountain View [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 10,709 | |||
Initial Cost to Company, Land | 5,490 | |||
Initial Cost to Company, Depreciable Assets | 12,325 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 451 | |||
Carrying Amount, Land | 5,490 | |||
Carrying Amount, Depreciable Assets | 12,776 | |||
Carrying Amount, Total | 18,266 | |||
Accumulated Depreciation | (2,456) | |||
Napa Valley [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 19,067 | |||
Initial Cost to Company, Land | 17,740 | |||
Initial Cost to Company, Depreciable Assets | 11,675 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 1,024 | |||
Carrying Amount, Land | 17,740 | |||
Carrying Amount, Depreciable Assets | 12,699 | |||
Carrying Amount, Total | 30,439 | |||
Accumulated Depreciation | (1,566) | |||
Naples RV Resort [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 0 | |||
Initial Cost to Company, Land | 3,640 | |||
Initial Cost to Company, Depreciable Assets | 2,020 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 2,223 | |||
Carrying Amount, Land | 3,640 | |||
Carrying Amount, Depreciable Assets | 4,243 | |||
Carrying Amount, Total | 7,883 | |||
Accumulated Depreciation | (1,257) | |||
New England Village [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 0 | |||
Initial Cost to Company, Land | 4,188 | |||
Initial Cost to Company, Depreciable Assets | 1,444 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 42 | |||
Carrying Amount, Land | 4,188 | |||
Carrying Amount, Depreciable Assets | 1,486 | |||
Carrying Amount, Total | 5,674 | |||
Accumulated Depreciation | (24) | |||
New Point RV Resort [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 0 | |||
Initial Cost to Company, Land | 1,550 | |||
Initial Cost to Company, Depreciable Assets | 5,259 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 4,315 | |||
Carrying Amount, Land | 1,550 | |||
Carrying Amount, Depreciable Assets | 9,574 | |||
Carrying Amount, Total | 11,124 | |||
Accumulated Depreciation | (2,602) | |||
New Ranch [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 0 | |||
Initial Cost to Company, Land | 2,270 | |||
Initial Cost to Company, Depreciable Assets | 2,723 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 1,486 | |||
Carrying Amount, Land | 2,270 | |||
Carrying Amount, Depreciable Assets | 4,209 | |||
Carrying Amount, Total | 6,479 | |||
Accumulated Depreciation | (431) | |||
North Lake Estates [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 0 | |||
Initial Cost to Company, Land | 4,150 | |||
Initial Cost to Company, Depreciable Assets | 3,486 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 2,014 | |||
Carrying Amount, Land | 4,150 | |||
Carrying Amount, Depreciable Assets | 5,500 | |||
Carrying Amount, Total | 9,650 | |||
Accumulated Depreciation | (1,880) | |||
North Point Estates [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 0 | |||
Initial Cost to Company, Land | 1,582 | |||
Initial Cost to Company, Depreciable Assets | 3,027 | |||
Cost Capitalized Subsequent to Acquisition, Land | 1 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 4,065 | |||
Carrying Amount, Land | 1,583 | |||
Carrying Amount, Depreciable Assets | 7,092 | |||
Carrying Amount, Total | 8,675 | |||
Accumulated Depreciation | (3,778) | |||
Northville Crossing [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 17,546 | |||
Initial Cost to Company, Land | 1,236 | |||
Initial Cost to Company, Depreciable Assets | 29,564 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 7,235 | |||
Carrying Amount, Land | 1,236 | |||
Carrying Amount, Depreciable Assets | 36,799 | |||
Carrying Amount, Total | 38,035 | |||
Accumulated Depreciation | (11,335) | |||
Oak Creek [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 8,953 | |||
Initial Cost to Company, Land | 4,760 | |||
Initial Cost to Company, Depreciable Assets | 11,185 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 1,643 | |||
Carrying Amount, Land | 4,760 | |||
Carrying Amount, Depreciable Assets | 12,828 | |||
Carrying Amount, Total | 17,588 | |||
Accumulated Depreciation | (2,441) | |||
Oak Crest [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 21,917 | |||
Initial Cost to Company, Land | 4,311 | |||
Initial Cost to Company, Depreciable Assets | 12,611 | |||
Cost Capitalized Subsequent to Acquisition, Land | 4,365 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 15,949 | |||
Carrying Amount, Land | 8,676 | |||
Carrying Amount, Depreciable Assets | 28,560 | |||
Carrying Amount, Total | 37,236 | |||
Accumulated Depreciation | (9,158) | |||
Oak Grove [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 0 | |||
Initial Cost to Company, Land | 1,004 | |||
Initial Cost to Company, Depreciable Assets | 1,660 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 1 | |||
Carrying Amount, Land | 1,004 | |||
Carrying Amount, Depreciable Assets | 1,661 | |||
Carrying Amount, Total | 2,665 | |||
Accumulated Depreciation | (28) | |||
Oak Island Village [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 0 | |||
Initial Cost to Company, Land | 320 | |||
Initial Cost to Company, Depreciable Assets | 6,843 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 3,112 | |||
Carrying Amount, Land | 320 | |||
Carrying Amount, Depreciable Assets | 9,955 | |||
Carrying Amount, Total | 10,275 | |||
Accumulated Depreciation | (3,061) | |||
Oak Ridge [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 30,121 | |||
Initial Cost to Company, Land | 1,090 | |||
Initial Cost to Company, Depreciable Assets | 36,941 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 3,762 | |||
Carrying Amount, Land | 1,090 | |||
Carrying Amount, Depreciable Assets | 40,703 | |||
Carrying Amount, Total | 41,793 | |||
Accumulated Depreciation | (7,846) | |||
Oakview Estates [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 0 | |||
Initial Cost to Company, Land | 850 | |||
Initial Cost to Company, Depreciable Assets | 3,881 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 1,470 | |||
Carrying Amount, Land | 850 | |||
Carrying Amount, Depreciable Assets | 5,351 | |||
Carrying Amount, Total | 6,201 | |||
Accumulated Depreciation | (613) | |||
Oakwood Village [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 31,451 | |||
Initial Cost to Company, Land | 1,964 | |||
Initial Cost to Company, Depreciable Assets | 6,401 | |||
Cost Capitalized Subsequent to Acquisition, Land | (1) | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 13,880 | |||
Carrying Amount, Land | 1,963 | |||
Carrying Amount, Depreciable Assets | 20,281 | |||
Carrying Amount, Total | 22,244 | |||
Accumulated Depreciation | (12,178) | |||
Ocean Breeze Jensen Beach [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 0 | |||
Initial Cost to Company, Land | 19,026 | |||
Initial Cost to Company, Depreciable Assets | 13,862 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 27,223 | |||
Carrying Amount, Land | 19,026 | |||
Carrying Amount, Depreciable Assets | 41,085 | |||
Carrying Amount, Total | 60,111 | |||
Accumulated Depreciation | (3,574) | |||
Ocean Breeze [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 0 | |||
Initial Cost to Company, Land | 2,330 | |||
Initial Cost to Company, Depreciable Assets | 1,770 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 4,406 | |||
Carrying Amount, Land | 2,330 | |||
Carrying Amount, Depreciable Assets | 6,176 | |||
Carrying Amount, Total | 8,506 | |||
Accumulated Depreciation | (78) | |||
Ocean Pine [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 0 | |||
Initial Cost to Company, Land | 7,623 | |||
Initial Cost to Company, Depreciable Assets | 35,333 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 1 | |||
Carrying Amount, Land | 7,623 | |||
Carrying Amount, Depreciable Assets | 35,334 | |||
Carrying Amount, Total | 42,957 | |||
Accumulated Depreciation | (735) | |||
Ocean West [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 4,592 | |||
Initial Cost to Company, Land | 5,040 | |||
Initial Cost to Company, Depreciable Assets | 4,413 | |||
Cost Capitalized Subsequent to Acquisition, Land | 349 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 509 | |||
Carrying Amount, Land | 5,389 | |||
Carrying Amount, Depreciable Assets | 4,922 | |||
Carrying Amount, Total | 10,311 | |||
Accumulated Depreciation | (407) | |||
Oceanside [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 0 | |||
Initial Cost to Company, Land | 2,718 | |||
Initial Cost to Company, Depreciable Assets | 3,244 | |||
Cost Capitalized Subsequent to Acquisition, Land | 1 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 986 | |||
Carrying Amount, Land | 2,719 | |||
Carrying Amount, Depreciable Assets | 4,230 | |||
Carrying Amount, Total | 6,949 | |||
Accumulated Depreciation | (243) | |||
Orange City [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 0 | |||
Initial Cost to Company, Land | 920 | |||
Initial Cost to Company, Depreciable Assets | 5,540 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 3,913 | |||
Carrying Amount, Land | 920 | |||
Carrying Amount, Depreciable Assets | 9,453 | |||
Carrying Amount, Total | 10,373 | |||
Accumulated Depreciation | (2,356) | |||
Orange Tree [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 10,373 | |||
Initial Cost to Company, Land | 283 | |||
Initial Cost to Company, Depreciable Assets | 2,530 | |||
Cost Capitalized Subsequent to Acquisition, Land | 15 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 1,300 | |||
Carrying Amount, Land | 298 | |||
Carrying Amount, Depreciable Assets | 3,830 | |||
Carrying Amount, Total | 4,128 | |||
Accumulated Depreciation | (2,764) | |||
Orchard Lake [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 0 | |||
Initial Cost to Company, Land | 395 | |||
Initial Cost to Company, Depreciable Assets | 4,025 | |||
Cost Capitalized Subsequent to Acquisition, Land | (15) | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 2,544 | |||
Carrying Amount, Land | 380 | |||
Carrying Amount, Depreciable Assets | 6,569 | |||
Carrying Amount, Total | 6,949 | |||
Accumulated Depreciation | (3,307) | |||
Paddock Park South [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 0 | |||
Initial Cost to Company, Land | 630 | |||
Initial Cost to Company, Depreciable Assets | 6,601 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 1,544 | |||
Carrying Amount, Land | 630 | |||
Carrying Amount, Depreciable Assets | 8,145 | |||
Carrying Amount, Total | 8,775 | |||
Accumulated Depreciation | (936) | |||
Palm Creek [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 96,555 | |||
Initial Cost to Company, Land | 11,836 | |||
Initial Cost to Company, Depreciable Assets | 76,143 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 24,577 | |||
Carrying Amount, Land | 11,836 | |||
Carrying Amount, Depreciable Assets | 100,720 | |||
Carrying Amount, Total | 112,556 | |||
Accumulated Depreciation | (27,933) | |||
Palm Key Village [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 15,900 | |||
Initial Cost to Company, Land | 3,840 | |||
Initial Cost to Company, Depreciable Assets | 15,661 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 811 | |||
Carrying Amount, Land | 3,840 | |||
Carrying Amount, Depreciable Assets | 16,472 | |||
Carrying Amount, Total | 20,312 | |||
Accumulated Depreciation | (2,602) | |||
Palm Village [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 0 | |||
Initial Cost to Company, Land | 2,970 | |||
Initial Cost to Company, Depreciable Assets | 2,849 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 1,716 | |||
Carrying Amount, Land | 2,970 | |||
Carrying Amount, Depreciable Assets | 4,565 | |||
Carrying Amount, Total | 7,535 | |||
Accumulated Depreciation | (485) | |||
Palos Verdes Shores MH & Golf Community [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 25,446 | |||
Initial Cost to Company, Land | 0 | |||
Initial Cost to Company, Depreciable Assets | 21,815 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 2,221 | |||
Carrying Amount, Land | 0 | |||
Carrying Amount, Depreciable Assets | 24,036 | |||
Carrying Amount, Total | 24,036 | |||
Accumulated Depreciation | (2,818) | |||
Pandion Ridge [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 0 | |||
Initial Cost to Company, Land | 12,719 | |||
Initial Cost to Company, Depreciable Assets | 7,515 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 0 | |||
Carrying Amount, Land | 12,719 | |||
Carrying Amount, Depreciable Assets | 7,515 | |||
Carrying Amount, Total | 20,234 | |||
Accumulated Depreciation | (146) | |||
Park Place [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 17,650 | |||
Initial Cost to Company, Land | 1,360 | |||
Initial Cost to Company, Depreciable Assets | 48,678 | |||
Cost Capitalized Subsequent to Acquisition, Land | 67 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 3,037 | |||
Carrying Amount, Land | 1,427 | |||
Carrying Amount, Depreciable Assets | 51,715 | |||
Carrying Amount, Total | 53,142 | |||
Accumulated Depreciation | (7,747) | |||
Park Royale [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 15,722 | |||
Initial Cost to Company, Land | 670 | |||
Initial Cost to Company, Depreciable Assets | 29,046 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 384 | |||
Carrying Amount, Land | 670 | |||
Carrying Amount, Depreciable Assets | 29,430 | |||
Carrying Amount, Total | 30,100 | |||
Accumulated Depreciation | (4,532) | |||
Parkside Village [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 0 | |||
Initial Cost to Company, Land | 550 | |||
Initial Cost to Company, Depreciable Assets | 10,402 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 307 | |||
Carrying Amount, Land | 550 | |||
Carrying Amount, Depreciable Assets | 10,709 | |||
Carrying Amount, Total | 11,259 | |||
Accumulated Depreciation | (2,021) | |||
Pebble Creek [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 0 | |||
Initial Cost to Company, Land | 1,030 | |||
Initial Cost to Company, Depreciable Assets | 5,074 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 11,486 | |||
Carrying Amount, Land | 1,030 | |||
Carrying Amount, Depreciable Assets | 16,560 | |||
Carrying Amount, Total | 17,590 | |||
Accumulated Depreciation | (7,161) | |||
Pecan Branch [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 0 | |||
Initial Cost to Company, Land | 1,379 | |||
Initial Cost to Company, Depreciable Assets | 0 | |||
Cost Capitalized Subsequent to Acquisition, Land | 235 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 0 | |||
Carrying Amount, Land | 1,614 | |||
Carrying Amount, Depreciable Assets | 18,016 | |||
Carrying Amount, Total | 19,630 | |||
Accumulated Depreciation | (2,970) | |||
Pecan Park [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 0 | |||
Initial Cost to Company, Land | 2,000 | |||
Initial Cost to Company, Depreciable Assets | 5,000 | |||
Cost Capitalized Subsequent to Acquisition, Land | 1,420 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 5,872 | |||
Carrying Amount, Land | 3,420 | |||
Carrying Amount, Depreciable Assets | 10,872 | |||
Carrying Amount, Total | 14,292 | |||
Accumulated Depreciation | (813) | |||
Pelican Bay [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 6,580 | |||
Initial Cost to Company, Land | 470 | |||
Initial Cost to Company, Depreciable Assets | 10,543 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 1,753 | |||
Carrying Amount, Land | 470 | |||
Carrying Amount, Depreciable Assets | 12,296 | |||
Carrying Amount, Total | 12,766 | |||
Accumulated Depreciation | (1,896) | |||
Pelican Bay Resort & Marina [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 0 | |||
Initial Cost to Company, Land | 4,760 | |||
Initial Cost to Company, Depreciable Assets | 4,742 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 1,658 | |||
Carrying Amount, Land | 4,760 | |||
Carrying Amount, Depreciable Assets | 6,400 | |||
Carrying Amount, Total | 11,160 | |||
Accumulated Depreciation | (877) | |||
Pembroke Downs [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 10,905 | |||
Initial Cost to Company, Land | 9,560 | |||
Initial Cost to Company, Depreciable Assets | 7,269 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 791 | |||
Carrying Amount, Land | 9,560 | |||
Carrying Amount, Depreciable Assets | 8,060 | |||
Carrying Amount, Total | 17,620 | |||
Accumulated Depreciation | (927) | |||
Peter's Pond RV Resort [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 0 | |||
Initial Cost to Company, Land | 4,700 | |||
Initial Cost to Company, Depreciable Assets | 22,840 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 4,056 | |||
Carrying Amount, Land | 4,700 | |||
Carrying Amount, Depreciable Assets | 26,896 | |||
Carrying Amount, Total | 31,596 | |||
Accumulated Depreciation | (7,513) | |||
Petoskey KOA [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 0 | |||
Initial Cost to Company, Land | 214 | |||
Initial Cost to Company, Depreciable Assets | 8,676 | |||
Cost Capitalized Subsequent to Acquisition, Land | 652 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 929 | |||
Carrying Amount, Land | 866 | |||
Carrying Amount, Depreciable Assets | 9,605 | |||
Carrying Amount, Total | 10,471 | |||
Accumulated Depreciation | (507) | |||
Petoskey RV Resort [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 0 | |||
Initial Cost to Company, Land | 230 | |||
Initial Cost to Company, Depreciable Assets | 3,270 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 4,439 | |||
Carrying Amount, Land | 230 | |||
Carrying Amount, Depreciable Assets | 7,709 | |||
Carrying Amount, Total | 7,939 | |||
Accumulated Depreciation | (846) | |||
Pheasant Ridge [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 20,833 | |||
Initial Cost to Company, Land | 2,044 | |||
Initial Cost to Company, Depreciable Assets | 19,279 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 1,083 | |||
Carrying Amount, Land | 2,044 | |||
Carrying Amount, Depreciable Assets | 20,362 | |||
Carrying Amount, Total | 22,406 | |||
Accumulated Depreciation | (11,475) | |||
Pickerel Park RV Resort & Campground [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 0 | |||
Initial Cost to Company, Land | 900 | |||
Initial Cost to Company, Depreciable Assets | 2,125 | |||
Cost Capitalized Subsequent to Acquisition, Land | (21) | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 2,010 | |||
Carrying Amount, Land | 879 | |||
Carrying Amount, Depreciable Assets | 4,135 | |||
Carrying Amount, Total | 5,014 | |||
Accumulated Depreciation | (406) | |||
Pin Oak Parc [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 0 | |||
Initial Cost to Company, Land | 1,038 | |||
Initial Cost to Company, Depreciable Assets | 3,250 | |||
Cost Capitalized Subsequent to Acquisition, Land | 467 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 16,211 | |||
Carrying Amount, Land | 1,505 | |||
Carrying Amount, Depreciable Assets | 19,461 | |||
Carrying Amount, Total | 20,966 | |||
Accumulated Depreciation | (9,676) | |||
Pine Hills [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 2,616 | |||
Initial Cost to Company, Land | 72 | |||
Initial Cost to Company, Depreciable Assets | 544 | |||
Cost Capitalized Subsequent to Acquisition, Land | 60 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 3,473 | |||
Carrying Amount, Land | 132 | |||
Carrying Amount, Depreciable Assets | 4,017 | |||
Carrying Amount, Total | 4,149 | |||
Accumulated Depreciation | (2,415) | |||
Pine Ridge [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 11,802 | |||
Initial Cost to Company, Land | 405 | |||
Initial Cost to Company, Depreciable Assets | 2,397 | |||
Cost Capitalized Subsequent to Acquisition, Land | 1 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 22,207 | |||
Carrying Amount, Land | 406 | |||
Carrying Amount, Depreciable Assets | 24,604 | |||
Carrying Amount, Total | 25,010 | |||
Accumulated Depreciation | (5,299) | |||
Pine Trace [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 0 | |||
Initial Cost to Company, Land | 2,907 | |||
Initial Cost to Company, Depreciable Assets | 17,169 | |||
Cost Capitalized Subsequent to Acquisition, Land | (212) | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 15,896 | |||
Carrying Amount, Land | 2,695 | |||
Carrying Amount, Depreciable Assets | 33,065 | |||
Carrying Amount, Total | 35,760 | |||
Accumulated Depreciation | (14,406) | |||
Pinebrook Village [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 0 | |||
Initial Cost to Company, Land | 130 | |||
Initial Cost to Company, Depreciable Assets | 5,692 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 1,443 | |||
Carrying Amount, Land | 130 | |||
Carrying Amount, Depreciable Assets | 7,135 | |||
Carrying Amount, Total | 7,265 | |||
Accumulated Depreciation | (2,358) | |||
Pismo Dunes [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 19,725 | |||
Initial Cost to Company, Land | 11,070 | |||
Initial Cost to Company, Depreciable Assets | 10,190 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 1,101 | |||
Carrying Amount, Land | 11,070 | |||
Carrying Amount, Depreciable Assets | 11,291 | |||
Carrying Amount, Total | 22,361 | |||
Accumulated Depreciation | (964) | |||
Plantation Landings [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 12,314 | |||
Initial Cost to Company, Land | 3,070 | |||
Initial Cost to Company, Depreciable Assets | 30,973 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 2,419 | |||
Carrying Amount, Land | 3,070 | |||
Carrying Amount, Depreciable Assets | 33,392 | |||
Carrying Amount, Total | 36,462 | |||
Accumulated Depreciation | (5,048) | |||
Pleasant Lake RV Resort [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 12,625 | |||
Initial Cost to Company, Land | 5,220 | |||
Initial Cost to Company, Depreciable Assets | 20,403 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 3,592 | |||
Carrying Amount, Land | 5,220 | |||
Carrying Amount, Depreciable Assets | 23,995 | |||
Carrying Amount, Total | 29,215 | |||
Accumulated Depreciation | (2,898) | |||
Pony Express [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 0 | |||
Initial Cost to Company, Land | 3,429 | |||
Initial Cost to Company, Depreciable Assets | 4,643 | |||
Cost Capitalized Subsequent to Acquisition, Land | 1 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 66 | |||
Carrying Amount, Land | 3,430 | |||
Carrying Amount, Depreciable Assets | 4,709 | |||
Carrying Amount, Total | 8,139 | |||
Accumulated Depreciation | (347) | |||
Presidential [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 23,007 | |||
Initial Cost to Company, Land | 680 | |||
Initial Cost to Company, Depreciable Assets | 6,314 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 5,755 | |||
Carrying Amount, Land | 680 | |||
Carrying Amount, Depreciable Assets | 12,069 | |||
Carrying Amount, Total | 12,749 | |||
Accumulated Depreciation | (7,522) | |||
RainbowRV [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 4,508 | |||
Initial Cost to Company, Land | 1,890 | |||
Initial Cost to Company, Depreciable Assets | 5,682 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 4,461 | |||
Carrying Amount, Land | 1,890 | |||
Carrying Amount, Depreciable Assets | 10,143 | |||
Carrying Amount, Total | 12,033 | |||
Accumulated Depreciation | (2,905) | |||
Rainbow Village of Largo [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 9,070 | |||
Initial Cost to Company, Land | 4,420 | |||
Initial Cost to Company, Depreciable Assets | 12,529 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 3,431 | |||
Carrying Amount, Land | 4,420 | |||
Carrying Amount, Depreciable Assets | 15,960 | |||
Carrying Amount, Total | 20,380 | |||
Accumulated Depreciation | (2,005) | |||
Rainbow Village of Zepyrhills [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 9,200 | |||
Initial Cost to Company, Land | 1,800 | |||
Initial Cost to Company, Depreciable Assets | 9,884 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 2,179 | |||
Carrying Amount, Land | 1,800 | |||
Carrying Amount, Depreciable Assets | 12,063 | |||
Carrying Amount, Total | 13,863 | |||
Accumulated Depreciation | (1,464) | |||
Rancho Alipaz [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 12,915 | |||
Initial Cost to Company, Land | 0 | |||
Initial Cost to Company, Depreciable Assets | 2,856 | |||
Cost Capitalized Subsequent to Acquisition, Land | 16,168 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 891 | |||
Carrying Amount, Land | 16,168 | |||
Carrying Amount, Depreciable Assets | 3,747 | |||
Carrying Amount, Total | 19,915 | |||
Accumulated Depreciation | (443) | |||
Rancho Caballero [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 15,626 | |||
Initial Cost to Company, Land | 16,560 | |||
Initial Cost to Company, Depreciable Assets | 12,446 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 1,213 | |||
Carrying Amount, Land | 16,560 | |||
Carrying Amount, Depreciable Assets | 13,659 | |||
Carrying Amount, Total | 30,219 | |||
Accumulated Depreciation | (1,588) | |||
Rancho Mirage [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 12,291 | |||
Initial Cost to Company, Land | 7,510 | |||
Initial Cost to Company, Depreciable Assets | 22,238 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 947 | |||
Carrying Amount, Land | 7,510 | |||
Carrying Amount, Depreciable Assets | 23,185 | |||
Carrying Amount, Total | 30,695 | |||
Accumulated Depreciation | (4,340) | |||
Red Oaks RV Resort [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 0 | |||
Initial Cost to Company, Land | 5,180 | |||
Initial Cost to Company, Depreciable Assets | 20,499 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 5,555 | |||
Carrying Amount, Land | 5,180 | |||
Carrying Amount, Depreciable Assets | 26,054 | |||
Carrying Amount, Total | 31,234 | |||
Accumulated Depreciation | (3,140) | |||
Regency Heights [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 27,525 | |||
Initial Cost to Company, Land | 11,330 | |||
Initial Cost to Company, Depreciable Assets | 15,734 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 2,402 | |||
Carrying Amount, Land | 11,330 | |||
Carrying Amount, Depreciable Assets | 18,136 | |||
Carrying Amount, Total | 29,466 | |||
Accumulated Depreciation | (2,035) | |||
Reserve at Fox Creek [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 15,848 | |||
Initial Cost to Company, Land | 1,950 | |||
Initial Cost to Company, Depreciable Assets | 20,074 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 1,386 | |||
Carrying Amount, Land | 1,950 | |||
Carrying Amount, Depreciable Assets | 21,460 | |||
Carrying Amount, Total | 23,410 | |||
Accumulated Depreciation | (4,033) | |||
Reunion Lake [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 0 | |||
Initial Cost to Company, Land | 7,726 | |||
Initial Cost to Company, Depreciable Assets | 16,146 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 136 | |||
Carrying Amount, Land | 7,726 | |||
Carrying Amount, Depreciable Assets | 16,282 | |||
Carrying Amount, Total | 24,008 | |||
Accumulated Depreciation | (302) | |||
Richmond [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 1,510 | |||
Initial Cost to Company, Land | 501 | |||
Initial Cost to Company, Depreciable Assets | 2,040 | |||
Cost Capitalized Subsequent to Acquisition, Land | (31) | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 3,482 | |||
Carrying Amount, Land | 470 | |||
Carrying Amount, Depreciable Assets | 5,522 | |||
Carrying Amount, Total | 5,992 | |||
Accumulated Depreciation | (2,743) | |||
Riptide RV Resort & Marina [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 0 | |||
Initial Cost to Company, Land | 2,440 | |||
Initial Cost to Company, Depreciable Assets | 991 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 1,748 | |||
Carrying Amount, Land | 2,440 | |||
Carrying Amount, Depreciable Assets | 2,739 | |||
Carrying Amount, Total | 5,179 | |||
Accumulated Depreciation | (327) | |||
River Haven [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 0 | |||
Initial Cost to Company, Land | 1,800 | |||
Initial Cost to Company, Depreciable Assets | 16,967 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 15,766 | |||
Carrying Amount, Land | 1,800 | |||
Carrying Amount, Depreciable Assets | 32,733 | |||
Carrying Amount, Total | 34,533 | |||
Accumulated Depreciation | (14,666) | |||
River Pines [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 0 | |||
Initial Cost to Company, Land | 2,739 | |||
Initial Cost to Company, Depreciable Assets | 37,802 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 6 | |||
Carrying Amount, Land | 2,739 | |||
Carrying Amount, Depreciable Assets | 37,808 | |||
Carrying Amount, Total | 40,547 | |||
Accumulated Depreciation | (630) | |||
River Plantation [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 0 | |||
Initial Cost to Company, Land | 3,730 | |||
Initial Cost to Company, Depreciable Assets | 19,736 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 225 | |||
Carrying Amount, Land | 3,730 | |||
Carrying Amount, Depreciable Assets | 19,961 | |||
Carrying Amount, Total | 23,691 | |||
Accumulated Depreciation | (366) | |||
River Ranch [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 0 | |||
Initial Cost to Company, Land | 4,690 | |||
Initial Cost to Company, Depreciable Assets | 843 | |||
Cost Capitalized Subsequent to Acquisition, Land | 182 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 41,585 | |||
Carrying Amount, Land | 4,872 | |||
Carrying Amount, Depreciable Assets | 42,428 | |||
Carrying Amount, Total | 47,300 | |||
Accumulated Depreciation | (12,285) | |||
River Ridge [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 8,745 | |||
Initial Cost to Company, Land | 3,201 | |||
Initial Cost to Company, Depreciable Assets | 15,090 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 8,023 | |||
Carrying Amount, Land | 3,201 | |||
Carrying Amount, Depreciable Assets | 23,113 | |||
Carrying Amount, Total | 26,314 | |||
Accumulated Depreciation | (12,035) | |||
River Run Ranch [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 0 | |||
Initial Cost to Company, Land | 8,642 | |||
Initial Cost to Company, Depreciable Assets | 0 | |||
Cost Capitalized Subsequent to Acquisition, Land | 130 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 0 | |||
Carrying Amount, Land | 8,772 | |||
Carrying Amount, Depreciable Assets | 82,667 | |||
Carrying Amount, Total | 91,439 | |||
Accumulated Depreciation | (798) | |||
Riverside Club [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 39,768 | |||
Initial Cost to Company, Land | 1,600 | |||
Initial Cost to Company, Depreciable Assets | 66,207 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 7,688 | |||
Carrying Amount, Land | 1,600 | |||
Carrying Amount, Depreciable Assets | 73,895 | |||
Carrying Amount, Total | 75,495 | |||
Accumulated Depreciation | (10,799) | |||
Rock Crusher Canyon RV Park [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 0 | |||
Initial Cost to Company, Land | 420 | |||
Initial Cost to Company, Depreciable Assets | 5,542 | |||
Cost Capitalized Subsequent to Acquisition, Land | 168 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 4,046 | |||
Carrying Amount, Land | 588 | |||
Carrying Amount, Depreciable Assets | 9,588 | |||
Carrying Amount, Total | 10,176 | |||
Accumulated Depreciation | (1,394) | |||
Rolling Hills [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 0 | |||
Initial Cost to Company, Land | 3,960 | |||
Initial Cost to Company, Depreciable Assets | 3,755 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 8 | |||
Carrying Amount, Land | 3,960 | |||
Carrying Amount, Depreciable Assets | 3,763 | |||
Carrying Amount, Total | 7,723 | |||
Accumulated Depreciation | (63) | |||
Roxbury [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 0 | |||
Initial Cost to Company, Land | 1,057 | |||
Initial Cost to Company, Depreciable Assets | 9,870 | |||
Cost Capitalized Subsequent to Acquisition, Land | 1 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 4,643 | |||
Carrying Amount, Land | 1,058 | |||
Carrying Amount, Depreciable Assets | 14,513 | |||
Carrying Amount, Total | 15,571 | |||
Accumulated Depreciation | (7,647) | |||
Royal Country [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 58,500 | |||
Initial Cost to Company, Land | 2,290 | |||
Initial Cost to Company, Depreciable Assets | 20,758 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 2,999 | |||
Carrying Amount, Land | 2,290 | |||
Carrying Amount, Depreciable Assets | 23,757 | |||
Carrying Amount, Total | 26,047 | |||
Accumulated Depreciation | (18,859) | |||
Royal Palm Village [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 11,305 | |||
Initial Cost to Company, Land | 1,730 | |||
Initial Cost to Company, Depreciable Assets | 27,446 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 3,559 | |||
Carrying Amount, Land | 1,730 | |||
Carrying Amount, Depreciable Assets | 31,005 | |||
Carrying Amount, Total | 32,735 | |||
Accumulated Depreciation | (4,788) | |||
Royal Palms MH & RV Resort [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 0 | |||
Initial Cost to Company, Land | 0 | |||
Initial Cost to Company, Depreciable Assets | 21,660 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 2,184 | |||
Carrying Amount, Land | 0 | |||
Carrying Amount, Depreciable Assets | 23,844 | |||
Carrying Amount, Total | 23,844 | |||
Accumulated Depreciation | (2,753) | |||
Rudgate Clinton [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 25,221 | |||
Initial Cost to Company, Land | 1,090 | |||
Initial Cost to Company, Depreciable Assets | 23,664 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 9,213 | |||
Carrying Amount, Land | 1,090 | |||
Carrying Amount, Depreciable Assets | 32,877 | |||
Carrying Amount, Total | 33,967 | |||
Accumulated Depreciation | (9,065) | |||
Rudgate Manor [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 15,091 | |||
Initial Cost to Company, Land | 1,440 | |||
Initial Cost to Company, Depreciable Assets | 31,110 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 12,629 | |||
Carrying Amount, Land | 1,440 | |||
Carrying Amount, Depreciable Assets | 43,739 | |||
Carrying Amount, Total | 45,179 | |||
Accumulated Depreciation | (11,860) | |||
Saco RV Resort [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 0 | |||
Initial Cost to Company, Land | 790 | |||
Initial Cost to Company, Depreciable Assets | 3,576 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 5,404 | |||
Carrying Amount, Land | 790 | |||
Carrying Amount, Depreciable Assets | 8,980 | |||
Carrying Amount, Total | 9,770 | |||
Accumulated Depreciation | (2,010) | |||
Saddle Oak Club [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 19,894 | |||
Initial Cost to Company, Land | 730 | |||
Initial Cost to Company, Depreciable Assets | 6,743 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 1,778 | |||
Carrying Amount, Land | 730 | |||
Carrying Amount, Depreciable Assets | 8,521 | |||
Carrying Amount, Total | 9,251 | |||
Accumulated Depreciation | (6,322) | |||
Saddlebrook [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 0 | |||
Initial Cost to Company, Land | 1,703 | |||
Initial Cost to Company, Depreciable Assets | 11,843 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 26,740 | |||
Carrying Amount, Land | 1,703 | |||
Carrying Amount, Depreciable Assets | 38,583 | |||
Carrying Amount, Total | 40,286 | |||
Accumulated Depreciation | (12,744) | |||
San Pedro RV Resort & Marina [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 0 | |||
Initial Cost to Company, Land | 3,110 | |||
Initial Cost to Company, Depreciable Assets | 2,416 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | (1,146) | |||
Carrying Amount, Land | 3,110 | |||
Carrying Amount, Depreciable Assets | 1,270 | |||
Carrying Amount, Total | 4,380 | |||
Accumulated Depreciation | (1) | |||
Sandy Lake MH & RV Resort [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 0 | |||
Initial Cost to Company, Land | 730 | |||
Initial Cost to Company, Depreciable Assets | 17,837 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 1,605 | |||
Carrying Amount, Land | 730 | |||
Carrying Amount, Depreciable Assets | 19,442 | |||
Carrying Amount, Total | 20,172 | |||
Accumulated Depreciation | (2,319) | |||
Saralake Estates [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 0 | |||
Initial Cost to Company, Land | 6,540 | |||
Initial Cost to Company, Depreciable Assets | 11,403 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 1,218 | |||
Carrying Amount, Land | 6,540 | |||
Carrying Amount, Depreciable Assets | 12,621 | |||
Carrying Amount, Total | 19,161 | |||
Accumulated Depreciation | (1,519) | |||
Savanna Club [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 67,035 | |||
Initial Cost to Company, Land | 12,810 | |||
Initial Cost to Company, Depreciable Assets | 79,887 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 373 | |||
Carrying Amount, Land | 12,810 | |||
Carrying Amount, Depreciable Assets | 80,260 | |||
Carrying Amount, Total | 93,070 | |||
Accumulated Depreciation | (12,418) | |||
Scio Farms [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 56,802 | |||
Initial Cost to Company, Land | 2,300 | |||
Initial Cost to Company, Depreciable Assets | 22,659 | |||
Cost Capitalized Subsequent to Acquisition, Land | (11) | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 15,698 | |||
Carrying Amount, Land | 2,289 | |||
Carrying Amount, Depreciable Assets | 38,357 | |||
Carrying Amount, Total | 40,646 | |||
Accumulated Depreciation | (25,128) | |||
Sea Air [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 0 | |||
Initial Cost to Company, Land | 1,207 | |||
Initial Cost to Company, Depreciable Assets | 10,179 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 2,586 | |||
Carrying Amount, Land | 1,207 | |||
Carrying Amount, Depreciable Assets | 12,765 | |||
Carrying Amount, Total | 13,972 | |||
Accumulated Depreciation | (7,032) | |||
Sea Breeze Resort [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 0 | |||
Initial Cost to Company, Land | 7,390 | |||
Initial Cost to Company, Depreciable Assets | 4,616 | |||
Cost Capitalized Subsequent to Acquisition, Land | 2,312 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | (2,426) | |||
Carrying Amount, Land | 9,702 | |||
Carrying Amount, Depreciable Assets | 2,190 | |||
Carrying Amount, Total | 11,892 | |||
Accumulated Depreciation | (3) | |||
Seaport RV Resort [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 0 | |||
Initial Cost to Company, Land | 120 | |||
Initial Cost to Company, Depreciable Assets | 290 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 2,497 | |||
Carrying Amount, Land | 120 | |||
Carrying Amount, Depreciable Assets | 2,787 | |||
Carrying Amount, Total | 2,907 | |||
Accumulated Depreciation | (1,252) | |||
Seashore RV Resort [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 15,515 | |||
Initial Cost to Company, Land | 1,030 | |||
Initial Cost to Company, Depreciable Assets | 23,228 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 2,951 | |||
Carrying Amount, Land | 1,030 | |||
Carrying Amount, Depreciable Assets | 26,179 | |||
Carrying Amount, Total | 27,209 | |||
Accumulated Depreciation | (5,486) | |||
Serendipity [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 10,142 | |||
Initial Cost to Company, Land | 1,160 | |||
Initial Cost to Company, Depreciable Assets | 23,522 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 3,404 | |||
Carrying Amount, Land | 1,160 | |||
Carrying Amount, Depreciable Assets | 26,926 | |||
Carrying Amount, Total | 28,086 | |||
Accumulated Depreciation | (4,289) | |||
Settlers Rest RV Resort [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 0 | |||
Initial Cost to Company, Land | 1,760 | |||
Initial Cost to Company, Depreciable Assets | 7,685 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 1,864 | |||
Carrying Amount, Land | 1,760 | |||
Carrying Amount, Depreciable Assets | 9,549 | |||
Carrying Amount, Total | 11,309 | |||
Accumulated Depreciation | (1,141) | |||
Shadow Wood Village [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 0 | |||
Initial Cost to Company, Land | 4,520 | |||
Initial Cost to Company, Depreciable Assets | 3,898 | |||
Cost Capitalized Subsequent to Acquisition, Land | 664 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 4,103 | |||
Carrying Amount, Land | 5,184 | |||
Carrying Amount, Depreciable Assets | 8,001 | |||
Carrying Amount, Total | 13,185 | |||
Accumulated Depreciation | (625) | |||
Shady Pines MH & RV Resort [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 0 | |||
Initial Cost to Company, Land | 1,060 | |||
Initial Cost to Company, Depreciable Assets | 3,768 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 1,329 | |||
Carrying Amount, Land | 1,060 | |||
Carrying Amount, Depreciable Assets | 5,097 | |||
Carrying Amount, Total | 6,157 | |||
Accumulated Depreciation | (610) | |||
Shady Road Villas [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 0 | |||
Initial Cost to Company, Land | 450 | |||
Initial Cost to Company, Depreciable Assets | 2,819 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 1,887 | |||
Carrying Amount, Land | 450 | |||
Carrying Amount, Depreciable Assets | 4,706 | |||
Carrying Amount, Total | 5,156 | |||
Accumulated Depreciation | (499) | |||
Sheffield [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 0 | |||
Initial Cost to Company, Land | 778 | |||
Initial Cost to Company, Depreciable Assets | 7,165 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 2,204 | |||
Carrying Amount, Land | 778 | |||
Carrying Amount, Depreciable Assets | 9,369 | |||
Carrying Amount, Total | 10,147 | |||
Accumulated Depreciation | (4,474) | |||
Shelby Forest [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 0 | |||
Initial Cost to Company, Land | 4,050 | |||
Initial Cost to Company, Depreciable Assets | 42,362 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 87 | |||
Carrying Amount, Land | 4,050 | |||
Carrying Amount, Depreciable Assets | 42,449 | |||
Carrying Amount, Total | 46,499 | |||
Accumulated Depreciation | (895) | |||
Shelby West [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 0 | |||
Initial Cost to Company, Land | 5,676 | |||
Initial Cost to Company, Depreciable Assets | 38,933 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 7 | |||
Carrying Amount, Land | 5,676 | |||
Carrying Amount, Depreciable Assets | 38,940 | |||
Carrying Amount, Total | 44,616 | |||
Accumulated Depreciation | (714) | |||
Shell Creek RV Resort & Marina [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 6,423 | |||
Initial Cost to Company, Land | 2,200 | |||
Initial Cost to Company, Depreciable Assets | 9,662 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 2,455 | |||
Carrying Amount, Land | 2,200 | |||
Carrying Amount, Depreciable Assets | 12,117 | |||
Carrying Amount, Total | 14,317 | |||
Accumulated Depreciation | (1,366) | |||
Sherkston Shores Beach Resort & Campground [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 0 | |||
Initial Cost to Company, Land | 22,750 | |||
Initial Cost to Company, Depreciable Assets | 97,164 | |||
Cost Capitalized Subsequent to Acquisition, Land | (110) | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 8,899 | |||
Carrying Amount, Land | 22,640 | |||
Carrying Amount, Depreciable Assets | 106,063 | |||
Carrying Amount, Total | 128,703 | |||
Accumulated Depreciation | (12,728) | |||
Siesta Bay [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 30,733 | |||
Initial Cost to Company, Land | 2,051 | |||
Initial Cost to Company, Depreciable Assets | 18,549 | |||
Cost Capitalized Subsequent to Acquisition, Land | 5 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 5,041 | |||
Carrying Amount, Land | 2,056 | |||
Carrying Amount, Depreciable Assets | 23,590 | |||
Carrying Amount, Total | 25,646 | |||
Accumulated Depreciation | (16,378) | |||
Silver Birches RV Resort & Campground [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 0 | |||
Initial Cost to Company, Land | 880 | |||
Initial Cost to Company, Depreciable Assets | 1,540 | |||
Cost Capitalized Subsequent to Acquisition, Land | (21) | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 516 | |||
Carrying Amount, Land | 859 | |||
Carrying Amount, Depreciable Assets | 2,056 | |||
Carrying Amount, Total | 2,915 | |||
Accumulated Depreciation | (259) | |||
Silver Creek [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 0 | |||
Initial Cost to Company, Land | 605 | |||
Initial Cost to Company, Depreciable Assets | 7,014 | |||
Cost Capitalized Subsequent to Acquisition, Land | 3 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 1,062 | |||
Carrying Amount, Land | 608 | |||
Carrying Amount, Depreciable Assets | 8,076 | |||
Carrying Amount, Total | 8,684 | |||
Accumulated Depreciation | (448) | |||
Silver Springs [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 6,938 | |||
Initial Cost to Company, Land | 861 | |||
Initial Cost to Company, Depreciable Assets | 16,595 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 3,521 | |||
Carrying Amount, Land | 861 | |||
Carrying Amount, Depreciable Assets | 20,116 | |||
Carrying Amount, Total | 20,977 | |||
Accumulated Depreciation | (5,954) | |||
Sky Harbor [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 13,705 | |||
Initial Cost to Company, Land | 2,318 | |||
Initial Cost to Company, Depreciable Assets | 24,253 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 6,058 | |||
Carrying Amount, Land | 2,318 | |||
Carrying Amount, Depreciable Assets | 30,311 | |||
Carrying Amount, Total | 32,629 | |||
Accumulated Depreciation | (5,427) | |||
Skyline [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 9,882 | |||
Initial Cost to Company, Land | 2,260 | |||
Initial Cost to Company, Depreciable Assets | 12,120 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 759 | |||
Carrying Amount, Land | 2,260 | |||
Carrying Amount, Depreciable Assets | 12,879 | |||
Carrying Amount, Total | 15,139 | |||
Accumulated Depreciation | (2,490) | |||
Slickrock RV Resort & Campground [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 0 | |||
Initial Cost to Company, Land | 0 | |||
Initial Cost to Company, Depreciable Assets | 0 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 8,515 | |||
Carrying Amount, Land | 0 | |||
Carrying Amount, Depreciable Assets | 8,515 | |||
Carrying Amount, Total | 8,515 | |||
Accumulated Depreciation | 0 | |||
Smith Creek Crossing [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 0 | |||
Initial Cost to Company, Land | 1,395 | |||
Initial Cost to Company, Depreciable Assets | 0 | |||
Cost Capitalized Subsequent to Acquisition, Land | 20 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 0 | |||
Carrying Amount, Land | 1,415 | |||
Carrying Amount, Depreciable Assets | 11,986 | |||
Carrying Amount, Total | 13,401 | |||
Accumulated Depreciation | (1) | |||
Southern Charm RV Resort [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 11,767 | |||
Initial Cost to Company, Land | 4,940 | |||
Initial Cost to Company, Depreciable Assets | 17,366 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 2,691 | |||
Carrying Amount, Land | 4,940 | |||
Carrying Amount, Depreciable Assets | 20,057 | |||
Carrying Amount, Total | 24,997 | |||
Accumulated Depreciation | (2,482) | |||
Southern Hills [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 7,576 | |||
Initial Cost to Company, Land | 360 | |||
Initial Cost to Company, Depreciable Assets | 12,723 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 12,551 | |||
Carrying Amount, Land | 360 | |||
Carrying Amount, Depreciable Assets | 25,274 | |||
Carrying Amount, Total | 25,634 | |||
Accumulated Depreciation | (4,739) | |||
Southern Palms [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 0 | |||
Initial Cost to Company, Land | 2,351 | |||
Initial Cost to Company, Depreciable Assets | 9,441 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 15 | |||
Carrying Amount, Land | 2,351 | |||
Carrying Amount, Depreciable Assets | 9,456 | |||
Carrying Amount, Total | 11,807 | |||
Accumulated Depreciation | (597) | |||
Southern Pines [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 0 | |||
Initial Cost to Company, Land | 1,710 | |||
Initial Cost to Company, Depreciable Assets | 3,337 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 1,323 | |||
Carrying Amount, Land | 1,710 | |||
Carrying Amount, Depreciable Assets | 4,660 | |||
Carrying Amount, Total | 6,370 | |||
Accumulated Depreciation | (570) | |||
Southfork [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 6,894 | |||
Initial Cost to Company, Land | 1,000 | |||
Initial Cost to Company, Depreciable Assets | 9,011 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 9,350 | |||
Carrying Amount, Land | 1,000 | |||
Carrying Amount, Depreciable Assets | 18,361 | |||
Carrying Amount, Total | 19,361 | |||
Accumulated Depreciation | (9,230) | |||
Southport Springs [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 34,500 | |||
Initial Cost to Company, Land | 15,060 | |||
Initial Cost to Company, Depreciable Assets | 17,229 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 3,551 | |||
Carrying Amount, Land | 15,060 | |||
Carrying Amount, Depreciable Assets | 20,780 | |||
Carrying Amount, Total | 35,840 | |||
Accumulated Depreciation | (3,110) | |||
Southside Landing [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 0 | |||
Initial Cost to Company, Land | 1,004 | |||
Initial Cost to Company, Depreciable Assets | 2,535 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 6 | |||
Carrying Amount, Land | 1,004 | |||
Carrying Amount, Depreciable Assets | 2,541 | |||
Carrying Amount, Total | 3,545 | |||
Accumulated Depreciation | (42) | |||
Southwood Village [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 0 | |||
Initial Cost to Company, Land | 300 | |||
Initial Cost to Company, Depreciable Assets | 11,517 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 1,876 | |||
Carrying Amount, Land | 300 | |||
Carrying Amount, Depreciable Assets | 13,393 | |||
Carrying Amount, Total | 13,693 | |||
Accumulated Depreciation | (3,870) | |||
Spanish Main MH & RV Resort [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 0 | |||
Initial Cost to Company, Land | 2,390 | |||
Initial Cost to Company, Depreciable Assets | 8,159 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 4,663 | |||
Carrying Amount, Land | 2,390 | |||
Carrying Amount, Depreciable Assets | 12,822 | |||
Carrying Amount, Total | 15,212 | |||
Accumulated Depreciation | (1,320) | |||
St. Clair Place [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 1,647 | |||
Initial Cost to Company, Land | 501 | |||
Initial Cost to Company, Depreciable Assets | 2,029 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 2,376 | |||
Carrying Amount, Land | 501 | |||
Carrying Amount, Depreciable Assets | 4,405 | |||
Carrying Amount, Total | 4,906 | |||
Accumulated Depreciation | (2,313) | |||
Stratford/Lake Winnipesaukee South KOA [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 0 | |||
Initial Cost to Company, Land | 0 | |||
Initial Cost to Company, Depreciable Assets | 0 | |||
Cost Capitalized Subsequent to Acquisition, Land | 304 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 2,943 | |||
Carrying Amount, Land | 304 | |||
Carrying Amount, Depreciable Assets | 2,943 | |||
Carrying Amount, Total | 3,247 | |||
Accumulated Depreciation | (52) | |||
Stonebridge, Richfield Township, MI [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 0 | |||
Initial Cost to Company, Land | 2,044 | |||
Initial Cost to Company, Depreciable Assets | 0 | |||
Cost Capitalized Subsequent to Acquisition, Land | 246 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 0 | |||
Carrying Amount, Land | 2,290 | |||
Carrying Amount, Depreciable Assets | 2,231 | |||
Carrying Amount, Total | 4,521 | |||
Accumulated Depreciation | (61) | |||
Stonebridge, San Antonio, TX [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 0 | |||
Initial Cost to Company, Land | 2,515 | |||
Initial Cost to Company, Depreciable Assets | 2,096 | |||
Cost Capitalized Subsequent to Acquisition, Land | (615) | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 6,332 | |||
Carrying Amount, Land | 1,900 | |||
Carrying Amount, Depreciable Assets | 8,428 | |||
Carrying Amount, Total | 10,328 | |||
Accumulated Depreciation | (4,690) | |||
Stonebrook [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 0 | |||
Initial Cost to Company, Land | 650 | |||
Initial Cost to Company, Depreciable Assets | 14,063 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 1,006 | |||
Carrying Amount, Land | 650 | |||
Carrying Amount, Depreciable Assets | 15,069 | |||
Carrying Amount, Total | 15,719 | |||
Accumulated Depreciation | (2,254) | |||
Summit Ridge [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 0 | |||
Initial Cost to Company, Land | 2,615 | |||
Initial Cost to Company, Depreciable Assets | 2,092 | |||
Cost Capitalized Subsequent to Acquisition, Land | (883) | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 21,067 | |||
Carrying Amount, Land | 1,732 | |||
Carrying Amount, Depreciable Assets | 23,159 | |||
Carrying Amount, Total | 24,891 | |||
Accumulated Depreciation | (9,639) | |||
Sun-N-Fun RV Resort [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 74,567 | |||
Initial Cost to Company, Land | 50,952 | |||
Initial Cost to Company, Depreciable Assets | 117,457 | |||
Cost Capitalized Subsequent to Acquisition, Land | (138) | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 8,517 | |||
Carrying Amount, Land | 50,814 | |||
Carrying Amount, Depreciable Assets | 125,974 | |||
Carrying Amount, Total | 176,788 | |||
Accumulated Depreciation | (16,768) | |||
Sun Valley [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 12,244 | |||
Initial Cost to Company, Land | 2,750 | |||
Initial Cost to Company, Depreciable Assets | 18,408 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 1,933 | |||
Carrying Amount, Land | 2,750 | |||
Carrying Amount, Depreciable Assets | 20,341 | |||
Carrying Amount, Total | 23,091 | |||
Accumulated Depreciation | (3,776) | |||
Sun Villa [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 24,565 | |||
Initial Cost to Company, Land | 2,385 | |||
Initial Cost to Company, Depreciable Assets | 11,773 | |||
Cost Capitalized Subsequent to Acquisition, Land | (1,100) | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 2,313 | |||
Carrying Amount, Land | 1,285 | |||
Carrying Amount, Depreciable Assets | 14,086 | |||
Carrying Amount, Total | 15,371 | |||
Accumulated Depreciation | (8,911) | |||
Suncoast Gateway [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 0 | |||
Initial Cost to Company, Land | 594 | |||
Initial Cost to Company, Depreciable Assets | 300 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 818 | |||
Carrying Amount, Land | 594 | |||
Carrying Amount, Depreciable Assets | 1,118 | |||
Carrying Amount, Total | 1,712 | |||
Accumulated Depreciation | (335) | |||
Sundance [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 12,700 | |||
Initial Cost to Company, Land | 890 | |||
Initial Cost to Company, Depreciable Assets | 25,306 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 1,080 | |||
Carrying Amount, Land | 890 | |||
Carrying Amount, Depreciable Assets | 26,386 | |||
Carrying Amount, Total | 27,276 | |||
Accumulated Depreciation | (4,056) | |||
Sunlake Estates [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 21,288 | |||
Initial Cost to Company, Land | 6,290 | |||
Initial Cost to Company, Depreciable Assets | 24,084 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 2,491 | |||
Carrying Amount, Land | 6,290 | |||
Carrying Amount, Depreciable Assets | 26,575 | |||
Carrying Amount, Total | 32,865 | |||
Accumulated Depreciation | (4,032) | |||
Sunset Beach Resort [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 0 | |||
Initial Cost to Company, Land | 3,800 | |||
Initial Cost to Company, Depreciable Assets | 24,030 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 0 | |||
Carrying Amount, Land | 3,800 | |||
Carrying Amount, Depreciable Assets | 24,030 | |||
Carrying Amount, Total | 27,830 | |||
Accumulated Depreciation | (2,965) | |||
Sunset Harbor at Cow Key Marina [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 0 | |||
Initial Cost to Company, Land | 8,570 | |||
Initial Cost to Company, Depreciable Assets | 7,636 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 1,491 | |||
Carrying Amount, Land | 8,570 | |||
Carrying Amount, Depreciable Assets | 9,127 | |||
Carrying Amount, Total | 17,697 | |||
Accumulated Depreciation | (973) | |||
Sunset Lakes RV Resort [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 0 | |||
Initial Cost to Company, Land | 1,840 | |||
Initial Cost to Company, Depreciable Assets | 5,995 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 2,777 | |||
Carrying Amount, Land | 1,840 | |||
Carrying Amount, Depreciable Assets | 8,772 | |||
Carrying Amount, Total | 10,612 | |||
Accumulated Depreciation | (799) | |||
Sunset Ridge, Portland, MI [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 0 | |||
Initial Cost to Company, Land | 2,044 | |||
Initial Cost to Company, Depreciable Assets | 0 | |||
Cost Capitalized Subsequent to Acquisition, Land | (9) | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 0 | |||
Carrying Amount, Land | 2,035 | |||
Carrying Amount, Depreciable Assets | 28,713 | |||
Carrying Amount, Total | 30,748 | |||
Accumulated Depreciation | (9,623) | |||
Sunset Ridge, Kyle, TX [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 0 | |||
Initial Cost to Company, Land | 2,190 | |||
Initial Cost to Company, Depreciable Assets | 2,775 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 6,987 | |||
Carrying Amount, Land | 2,190 | |||
Carrying Amount, Depreciable Assets | 9,762 | |||
Carrying Amount, Total | 11,952 | |||
Accumulated Depreciation | (4,981) | |||
Swan Meadow [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 13,566 | |||
Initial Cost to Company, Land | 2,140 | |||
Initial Cost to Company, Depreciable Assets | 19,734 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 444 | |||
Carrying Amount, Land | 2,140 | |||
Carrying Amount, Depreciable Assets | 20,178 | |||
Carrying Amount, Total | 22,318 | |||
Accumulated Depreciation | (3,478) | |||
Sweetwater RV Resort [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 5,505 | |||
Initial Cost to Company, Land | 1,340 | |||
Initial Cost to Company, Depreciable Assets | 9,113 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 2,090 | |||
Carrying Amount, Land | 1,340 | |||
Carrying Amount, Depreciable Assets | 11,203 | |||
Carrying Amount, Total | 12,543 | |||
Accumulated Depreciation | (1,360) | |||
Sycamore Village [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 0 | |||
Initial Cost to Company, Land | 390 | |||
Initial Cost to Company, Depreciable Assets | 13,341 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 4,246 | |||
Carrying Amount, Land | 390 | |||
Carrying Amount, Depreciable Assets | 17,587 | |||
Carrying Amount, Total | 17,977 | |||
Accumulated Depreciation | (5,569) | |||
Tallowwood Isle [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 0 | |||
Initial Cost to Company, Land | 13,796 | |||
Initial Cost to Company, Depreciable Assets | 20,797 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 1,289 | |||
Carrying Amount, Land | 13,796 | |||
Carrying Amount, Depreciable Assets | 22,086 | |||
Carrying Amount, Total | 35,882 | |||
Accumulated Depreciation | (2,568) | |||
Tamarac Village [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 19,125 | |||
Initial Cost to Company, Land | 300 | |||
Initial Cost to Company, Depreciable Assets | 12,028 | |||
Cost Capitalized Subsequent to Acquisition, Land | 85 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 3,809 | |||
Carrying Amount, Land | 385 | |||
Carrying Amount, Depreciable Assets | 15,837 | |||
Carrying Amount, Total | 16,222 | |||
Accumulated Depreciation | (4,326) | |||
Tampa East [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 8,400 | |||
Initial Cost to Company, Land | 734 | |||
Initial Cost to Company, Depreciable Assets | 6,310 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 7,486 | |||
Carrying Amount, Land | 734 | |||
Carrying Amount, Depreciable Assets | 13,796 | |||
Carrying Amount, Total | 14,530 | |||
Accumulated Depreciation | (5,511) | |||
The Colony [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 0 | |||
Initial Cost to Company, Land | 0 | |||
Initial Cost to Company, Depreciable Assets | 6,437 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 959 | |||
Carrying Amount, Land | 0 | |||
Carrying Amount, Depreciable Assets | 7,396 | |||
Carrying Amount, Total | 7,396 | |||
Accumulated Depreciation | (896) | |||
The Grove at Alta Ridge [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 27,122 | |||
Initial Cost to Company, Land | 5,370 | |||
Initial Cost to Company, Depreciable Assets | 37,116 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 99 | |||
Carrying Amount, Land | 5,370 | |||
Carrying Amount, Depreciable Assets | 37,215 | |||
Carrying Amount, Total | 42,585 | |||
Accumulated Depreciation | (6,978) | |||
The Hamptons [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 69,000 | |||
Initial Cost to Company, Land | 15,890 | |||
Initial Cost to Company, Depreciable Assets | 67,555 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 3,040 | |||
Carrying Amount, Land | 15,890 | |||
Carrying Amount, Depreciable Assets | 70,595 | |||
Carrying Amount, Total | 86,485 | |||
Accumulated Depreciation | (10,786) | |||
The Hideaway [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 0 | |||
Initial Cost to Company, Land | 2,720 | |||
Initial Cost to Company, Depreciable Assets | 972 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 938 | |||
Carrying Amount, Land | 2,720 | |||
Carrying Amount, Depreciable Assets | 1,910 | |||
Carrying Amount, Total | 4,630 | |||
Accumulated Depreciation | (204) | |||
The Hills [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 0 | |||
Initial Cost to Company, Land | 1,790 | |||
Initial Cost to Company, Depreciable Assets | 3,869 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 1,269 | |||
Carrying Amount, Land | 1,790 | |||
Carrying Amount, Depreciable Assets | 5,138 | |||
Carrying Amount, Total | 6,928 | |||
Accumulated Depreciation | (607) | |||
The Ridge [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 37,350 | |||
Initial Cost to Company, Land | 8,350 | |||
Initial Cost to Company, Depreciable Assets | 35,463 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 3,121 | |||
Carrying Amount, Land | 8,350 | |||
Carrying Amount, Depreciable Assets | 38,584 | |||
Carrying Amount, Total | 46,934 | |||
Accumulated Depreciation | (6,188) | |||
The Sands [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 0 | |||
Initial Cost to Company, Land | 3,071 | |||
Initial Cost to Company, Depreciable Assets | 12,611 | |||
Cost Capitalized Subsequent to Acquisition, Land | 1 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 1,915 | |||
Carrying Amount, Land | 3,072 | |||
Carrying Amount, Depreciable Assets | 14,526 | |||
Carrying Amount, Total | 17,598 | |||
Accumulated Depreciation | (905) | |||
The Valley [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 0 | |||
Initial Cost to Company, Land | 2,530 | |||
Initial Cost to Company, Depreciable Assets | 5,660 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 1,666 | |||
Carrying Amount, Land | 2,530 | |||
Carrying Amount, Depreciable Assets | 7,326 | |||
Carrying Amount, Total | 9,856 | |||
Accumulated Depreciation | (808) | |||
The Villas at Calla Pointe [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 3,690 | |||
Initial Cost to Company, Land | 380 | |||
Initial Cost to Company, Depreciable Assets | 11,014 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 171 | |||
Carrying Amount, Land | 380 | |||
Carrying Amount, Depreciable Assets | 11,185 | |||
Carrying Amount, Total | 11,565 | |||
Accumulated Depreciation | (2,094) | |||
Three Gardens [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 0 | |||
Initial Cost to Company, Land | 2,031 | |||
Initial Cost to Company, Depreciable Assets | 6,686 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 5 | |||
Carrying Amount, Land | 2,031 | |||
Carrying Amount, Depreciable Assets | 6,691 | |||
Carrying Amount, Total | 8,722 | |||
Accumulated Depreciation | (111) | |||
Three Lakes [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 0 | |||
Initial Cost to Company, Land | 5,050 | |||
Initial Cost to Company, Depreciable Assets | 3,361 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 3,240 | |||
Carrying Amount, Land | 5,050 | |||
Carrying Amount, Depreciable Assets | 6,601 | |||
Carrying Amount, Total | 11,651 | |||
Accumulated Depreciation | (2,055) | |||
Thunderhill Estates [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 5,469 | |||
Initial Cost to Company, Land | 640 | |||
Initial Cost to Company, Depreciable Assets | 9,008 | |||
Cost Capitalized Subsequent to Acquisition, Land | 439 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 2,568 | |||
Carrying Amount, Land | 1,079 | |||
Carrying Amount, Depreciable Assets | 11,576 | |||
Carrying Amount, Total | 12,655 | |||
Accumulated Depreciation | (2,147) | |||
Timber Ridge [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 39,258 | |||
Initial Cost to Company, Land | 990 | |||
Initial Cost to Company, Depreciable Assets | 9,231 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 3,388 | |||
Carrying Amount, Land | 990 | |||
Carrying Amount, Depreciable Assets | 12,619 | |||
Carrying Amount, Total | 13,609 | |||
Accumulated Depreciation | (8,288) | |||
Timberline Estates [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 18,812 | |||
Initial Cost to Company, Land | 535 | |||
Initial Cost to Company, Depreciable Assets | 4,867 | |||
Cost Capitalized Subsequent to Acquisition, Land | 1 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 4,295 | |||
Carrying Amount, Land | 536 | |||
Carrying Amount, Depreciable Assets | 9,162 | |||
Carrying Amount, Total | 9,698 | |||
Accumulated Depreciation | (5,913) | |||
Town & Country Mobile Village [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 5,294 | |||
Initial Cost to Company, Land | 406 | |||
Initial Cost to Company, Depreciable Assets | 3,736 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 1,860 | |||
Carrying Amount, Land | 406 | |||
Carrying Amount, Depreciable Assets | 5,596 | |||
Carrying Amount, Total | 6,002 | |||
Accumulated Depreciation | (3,412) | |||
Town & Country Village [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 2,557 | |||
Initial Cost to Company, Land | 230 | |||
Initial Cost to Company, Depreciable Assets | 4,539 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 1,260 | |||
Carrying Amount, Land | 230 | |||
Carrying Amount, Depreciable Assets | 5,799 | |||
Carrying Amount, Total | 6,029 | |||
Accumulated Depreciation | (1,132) | |||
Trailside RV Resort & Campground [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 0 | |||
Initial Cost to Company, Land | 3,690 | |||
Initial Cost to Company, Depreciable Assets | 3,650 | |||
Cost Capitalized Subsequent to Acquisition, Land | (87) | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 853 | |||
Carrying Amount, Land | 3,603 | |||
Carrying Amount, Depreciable Assets | 4,503 | |||
Carrying Amount, Total | 8,106 | |||
Accumulated Depreciation | (551) | |||
Travelers World RV Resort [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 0 | |||
Initial Cost to Company, Land | 790 | |||
Initial Cost to Company, Depreciable Assets | 7,952 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 2,008 | |||
Carrying Amount, Land | 790 | |||
Carrying Amount, Depreciable Assets | 9,960 | |||
Carrying Amount, Total | 10,750 | |||
Accumulated Depreciation | (1,280) | |||
Treetops RV Resort [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 0 | |||
Initial Cost to Company, Land | 730 | |||
Initial Cost to Company, Depreciable Assets | 9,831 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 1,802 | |||
Carrying Amount, Land | 730 | |||
Carrying Amount, Depreciable Assets | 11,633 | |||
Carrying Amount, Total | 12,363 | |||
Accumulated Depreciation | (1,413) | |||
Vallecito [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 22,044 | |||
Initial Cost to Company, Land | 25,766 | |||
Initial Cost to Company, Depreciable Assets | 9,814 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 1,138 | |||
Carrying Amount, Land | 25,766 | |||
Carrying Amount, Depreciable Assets | 10,952 | |||
Carrying Amount, Total | 36,718 | |||
Accumulated Depreciation | (1,260) | |||
Verde Plaza [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 0 | |||
Initial Cost to Company, Land | 710 | |||
Initial Cost to Company, Depreciable Assets | 7,069 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 2,971 | |||
Carrying Amount, Land | 710 | |||
Carrying Amount, Depreciable Assets | 10,040 | |||
Carrying Amount, Total | 10,750 | |||
Accumulated Depreciation | (1,276) | |||
Victor Villa [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 11,977 | |||
Initial Cost to Company, Land | 2,510 | |||
Initial Cost to Company, Depreciable Assets | 20,408 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 2,107 | |||
Carrying Amount, Land | 2,510 | |||
Carrying Amount, Depreciable Assets | 22,515 | |||
Carrying Amount, Total | 25,025 | |||
Accumulated Depreciation | (2,701) | |||
Vines RV Resort [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 0 | |||
Initial Cost to Company, Land | 890 | |||
Initial Cost to Company, Depreciable Assets | 7,110 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 2,032 | |||
Carrying Amount, Land | 890 | |||
Carrying Amount, Depreciable Assets | 9,142 | |||
Carrying Amount, Total | 10,032 | |||
Accumulated Depreciation | (2,250) | |||
Vista del Lago [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 18,129 | |||
Initial Cost to Company, Land | 17,830 | |||
Initial Cost to Company, Depreciable Assets | 9,456 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 1,319 | |||
Carrying Amount, Land | 17,830 | |||
Carrying Amount, Depreciable Assets | 10,775 | |||
Carrying Amount, Total | 28,605 | |||
Accumulated Depreciation | (1,173) | |||
Vista del Lago MH & RV Resort [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 4,221 | |||
Initial Cost to Company, Land | 3,630 | |||
Initial Cost to Company, Depreciable Assets | 5,329 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 2,007 | |||
Carrying Amount, Land | 3,630 | |||
Carrying Amount, Depreciable Assets | 7,336 | |||
Carrying Amount, Total | 10,966 | |||
Accumulated Depreciation | (805) | |||
Vizcaya Lakes [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 0 | |||
Initial Cost to Company, Land | 670 | |||
Initial Cost to Company, Depreciable Assets | 4,221 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 579 | |||
Carrying Amount, Land | 670 | |||
Carrying Amount, Depreciable Assets | 4,800 | |||
Carrying Amount, Total | 5,470 | |||
Accumulated Depreciation | (700) | |||
Wagon Wheel [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 0 | |||
Initial Cost to Company, Land | 590 | |||
Initial Cost to Company, Depreciable Assets | 7,703 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 2,833 | |||
Carrying Amount, Land | 590 | |||
Carrying Amount, Depreciable Assets | 10,536 | |||
Carrying Amount, Total | 11,126 | |||
Accumulated Depreciation | (3,120) | |||
Walden Woods [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 19,206 | |||
Initial Cost to Company, Land | 1,550 | |||
Initial Cost to Company, Depreciable Assets | 26,375 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 1,410 | |||
Carrying Amount, Land | 1,550 | |||
Carrying Amount, Depreciable Assets | 27,785 | |||
Carrying Amount, Total | 29,335 | |||
Accumulated Depreciation | (4,243) | |||
Warren Dunes Village [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 0 | |||
Initial Cost to Company, Land | 310 | |||
Initial Cost to Company, Depreciable Assets | 3,350 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 11,275 | |||
Carrying Amount, Land | 310 | |||
Carrying Amount, Depreciable Assets | 14,625 | |||
Carrying Amount, Total | 14,935 | |||
Accumulated Depreciation | (2,528) | |||
Water Oak [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 46,725 | |||
Initial Cost to Company, Land | 2,834 | |||
Initial Cost to Company, Depreciable Assets | 16,706 | |||
Cost Capitalized Subsequent to Acquisition, Land | 2,666 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 34,141 | |||
Carrying Amount, Land | 5,500 | |||
Carrying Amount, Depreciable Assets | 50,847 | |||
Carrying Amount, Total | 56,347 | |||
Accumulated Depreciation | (22,950) | |||
Waters Edge RV Resort [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 3,670 | |||
Initial Cost to Company, Land | 1,180 | |||
Initial Cost to Company, Depreciable Assets | 5,450 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 2,308 | |||
Carrying Amount, Land | 1,180 | |||
Carrying Amount, Depreciable Assets | 7,758 | |||
Carrying Amount, Total | 8,938 | |||
Accumulated Depreciation | (937) | |||
Waverly Shores Village [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 14,660 | |||
Initial Cost to Company, Land | 340 | |||
Initial Cost to Company, Depreciable Assets | 7,267 | |||
Cost Capitalized Subsequent to Acquisition, Land | 450 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 6,508 | |||
Carrying Amount, Land | 790 | |||
Carrying Amount, Depreciable Assets | 13,775 | |||
Carrying Amount, Total | 14,565 | |||
Accumulated Depreciation | (2,614) | |||
West Village [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 5,582 | |||
Initial Cost to Company, Land | 884 | |||
Initial Cost to Company, Depreciable Assets | 19,765 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 4,154 | |||
Carrying Amount, Land | 884 | |||
Carrying Amount, Depreciable Assets | 23,919 | |||
Carrying Amount, Total | 24,803 | |||
Accumulated Depreciation | (6,361) | |||
Westbrook Senior [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 5,852 | |||
Initial Cost to Company, Land | 355 | |||
Initial Cost to Company, Depreciable Assets | 3,295 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 694 | |||
Carrying Amount, Land | 355 | |||
Carrying Amount, Depreciable Assets | 3,989 | |||
Carrying Amount, Total | 4,344 | |||
Accumulated Depreciation | (2,271) | |||
Westbrook Village [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 23,983 | |||
Initial Cost to Company, Land | 1,110 | |||
Initial Cost to Company, Depreciable Assets | 10,462 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 5,301 | |||
Carrying Amount, Land | 1,110 | |||
Carrying Amount, Depreciable Assets | 15,763 | |||
Carrying Amount, Total | 16,873 | |||
Accumulated Depreciation | (9,255) | |||
Westside Ridge [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 8,564 | |||
Initial Cost to Company, Land | 760 | |||
Initial Cost to Company, Depreciable Assets | 10,714 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 851 | |||
Carrying Amount, Land | 760 | |||
Carrying Amount, Depreciable Assets | 11,565 | |||
Carrying Amount, Total | 12,325 | |||
Accumulated Depreciation | (1,785) | |||
Westward Ho RV Resort [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 0 | |||
Initial Cost to Company, Land | 1,050 | |||
Initial Cost to Company, Depreciable Assets | 5,642 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 2,590 | |||
Carrying Amount, Land | 1,050 | |||
Carrying Amount, Depreciable Assets | 8,232 | |||
Carrying Amount, Total | 9,282 | |||
Accumulated Depreciation | (2,208) | |||
Westward Shores Cottages & RV Resort [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 0 | |||
Initial Cost to Company, Land | 1,901 | |||
Initial Cost to Company, Depreciable Assets | 15,326 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 3,470 | |||
Carrying Amount, Land | 1,901 | |||
Carrying Amount, Depreciable Assets | 18,796 | |||
Carrying Amount, Total | 20,697 | |||
Accumulated Depreciation | (938) | |||
White Lake [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 24,178 | |||
Initial Cost to Company, Land | 672 | |||
Initial Cost to Company, Depreciable Assets | 6,179 | |||
Cost Capitalized Subsequent to Acquisition, Land | 1 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 11,017 | |||
Carrying Amount, Land | 673 | |||
Carrying Amount, Depreciable Assets | 17,196 | |||
Carrying Amount, Total | 17,869 | |||
Accumulated Depreciation | (10,011) | |||
Whitewater RV Resort [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 0 | |||
Initial Cost to Company, Land | 5,163 | |||
Initial Cost to Company, Depreciable Assets | 0 | |||
Cost Capitalized Subsequent to Acquisition, Land | 15 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 1,842 | |||
Carrying Amount, Land | 5,178 | |||
Carrying Amount, Depreciable Assets | 1,842 | |||
Carrying Amount, Total | 7,020 | |||
Accumulated Depreciation | 0 | |||
Wild Acres [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 0 | |||
Initial Cost to Company, Land | 1,640 | |||
Initial Cost to Company, Depreciable Assets | 26,786 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 4,845 | |||
Carrying Amount, Land | 1,640 | |||
Carrying Amount, Depreciable Assets | 31,631 | |||
Carrying Amount, Total | 33,271 | |||
Accumulated Depreciation | (9,439) | |||
Wildwood Community [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 24,441 | |||
Initial Cost to Company, Land | 1,890 | |||
Initial Cost to Company, Depreciable Assets | 37,732 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 1,023 | |||
Carrying Amount, Land | 1,890 | |||
Carrying Amount, Depreciable Assets | 38,755 | |||
Carrying Amount, Total | 40,645 | |||
Accumulated Depreciation | (7,319) | |||
Willow Lake RV Resort & Campground [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 0 | |||
Initial Cost to Company, Land | 1,260 | |||
Initial Cost to Company, Depreciable Assets | 2,275 | |||
Cost Capitalized Subsequent to Acquisition, Land | (30) | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 824 | |||
Carrying Amount, Land | 1,230 | |||
Carrying Amount, Depreciable Assets | 3,099 | |||
Carrying Amount, Total | 4,329 | |||
Accumulated Depreciation | (327) | |||
Willowbrook [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 17,392 | |||
Initial Cost to Company, Land | 781 | |||
Initial Cost to Company, Depreciable Assets | 7,054 | |||
Cost Capitalized Subsequent to Acquisition, Land | 1 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 5,486 | |||
Carrying Amount, Land | 782 | |||
Carrying Amount, Depreciable Assets | 12,540 | |||
Carrying Amount, Total | 13,322 | |||
Accumulated Depreciation | (7,005) | |||
Willowood RV Resort & Campground [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 0 | |||
Initial Cost to Company, Land | 1,160 | |||
Initial Cost to Company, Depreciable Assets | 1,490 | |||
Cost Capitalized Subsequent to Acquisition, Land | (27) | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 770 | |||
Carrying Amount, Land | 1,133 | |||
Carrying Amount, Depreciable Assets | 2,260 | |||
Carrying Amount, Total | 3,393 | |||
Accumulated Depreciation | (278) | |||
Windham Hills [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 0 | |||
Initial Cost to Company, Land | 2,673 | |||
Initial Cost to Company, Depreciable Assets | 2,364 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 21,878 | |||
Carrying Amount, Land | 2,673 | |||
Carrying Amount, Depreciable Assets | 24,242 | |||
Carrying Amount, Total | 26,915 | |||
Accumulated Depreciation | (11,777) | |||
Windmill Village [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 46,000 | |||
Initial Cost to Company, Land | 7,560 | |||
Initial Cost to Company, Depreciable Assets | 36,294 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 1,880 | |||
Carrying Amount, Land | 7,560 | |||
Carrying Amount, Depreciable Assets | 38,174 | |||
Carrying Amount, Total | 45,734 | |||
Accumulated Depreciation | (5,949) | |||
Windsor Woods Village [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 0 | |||
Initial Cost to Company, Land | 270 | |||
Initial Cost to Company, Depreciable Assets | 5,835 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 3,260 | |||
Carrying Amount, Land | 270 | |||
Carrying Amount, Depreciable Assets | 9,095 | |||
Carrying Amount, Total | 9,365 | |||
Accumulated Depreciation | (3,321) | |||
Wine Country [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 0 | |||
Initial Cost to Company, Land | 1,740 | |||
Initial Cost to Company, Depreciable Assets | 11,510 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 3,881 | |||
Carrying Amount, Land | 1,740 | |||
Carrying Amount, Depreciable Assets | 15,391 | |||
Carrying Amount, Total | 17,131 | |||
Accumulated Depreciation | (3,311) | |||
Woodhaven Place [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 13,700 | |||
Initial Cost to Company, Land | 501 | |||
Initial Cost to Company, Depreciable Assets | 4,541 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 6,648 | |||
Carrying Amount, Land | 501 | |||
Carrying Amount, Depreciable Assets | 11,189 | |||
Carrying Amount, Total | 11,690 | |||
Accumulated Depreciation | (5,611) | |||
Woodlake Trails [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 0 | |||
Initial Cost to Company, Land | 1,186 | |||
Initial Cost to Company, Depreciable Assets | 287 | |||
Cost Capitalized Subsequent to Acquisition, Land | (56) | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 18,407 | |||
Carrying Amount, Land | 1,130 | |||
Carrying Amount, Depreciable Assets | 18,694 | |||
Carrying Amount, Total | 19,824 | |||
Accumulated Depreciation | (5,782) | |||
Woodland lake Trails RV Resort and Campground [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 0 | |||
Initial Cost to Company, Land | 1,650 | |||
Initial Cost to Company, Depreciable Assets | 2,165 | |||
Cost Capitalized Subsequent to Acquisition, Land | (47) | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 562 | |||
Carrying Amount, Land | 1,603 | |||
Carrying Amount, Depreciable Assets | 2,727 | |||
Carrying Amount, Total | 4,330 | |||
Accumulated Depreciation | (339) | |||
Woodland Park Estates [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 0 | |||
Initial Cost to Company, Land | 1,592 | |||
Initial Cost to Company, Depreciable Assets | 14,398 | |||
Cost Capitalized Subsequent to Acquisition, Land | 1 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 996 | |||
Carrying Amount, Land | 1,593 | |||
Carrying Amount, Depreciable Assets | 15,394 | |||
Carrying Amount, Total | 16,987 | |||
Accumulated Depreciation | (10,645) | |||
Woodlands at Church Lake [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 0 | |||
Initial Cost to Company, Land | 2,480 | |||
Initial Cost to Company, Depreciable Assets | 9,072 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 2,812 | |||
Carrying Amount, Land | 2,480 | |||
Carrying Amount, Depreciable Assets | 11,884 | |||
Carrying Amount, Total | 14,364 | |||
Accumulated Depreciation | (1,697) | |||
Woodside Terrace [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 25,076 | |||
Initial Cost to Company, Land | 1,063 | |||
Initial Cost to Company, Depreciable Assets | 9,625 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 11,438 | |||
Carrying Amount, Land | 1,063 | |||
Carrying Amount, Depreciable Assets | 21,063 | |||
Carrying Amount, Total | 22,126 | |||
Accumulated Depreciation | (10,972) | |||
Wymberly [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 0 | |||
Initial Cost to Company, Land | 3,058 | |||
Initial Cost to Company, Depreciable Assets | 14,451 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 5 | |||
Carrying Amount, Land | 3,058 | |||
Carrying Amount, Depreciable Assets | 14,456 | |||
Carrying Amount, Total | 17,514 | |||
Accumulated Depreciation | (241) | |||
Yankee Village [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 0 | |||
Initial Cost to Company, Land | 1,552 | |||
Initial Cost to Company, Depreciable Assets | 364 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 0 | |||
Carrying Amount, Land | 1,552 | |||
Carrying Amount, Depreciable Assets | 364 | |||
Carrying Amount, Total | 1,916 | |||
Accumulated Depreciation | (6) | |||
All Properties Excluding Corporate Headquarters [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 3,188,472 | |||
Initial Cost to Company, Land | 1,379,317 | |||
Initial Cost to Company, Depreciable Assets | 5,238,831 | |||
Cost Capitalized Subsequent to Acquisition, Land | 34,962 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 1,929,108 | |||
Carrying Amount, Land | 1,414,279 | |||
Carrying Amount, Depreciable Assets | 7,414,464 | |||
Carrying Amount, Total | 8,828,743 | |||
Accumulated Depreciation | (1,663,277) | |||
Corporate Headquarters [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrance | 0 | |||
Initial Cost to Company, Land | 0 | |||
Initial Cost to Company, Depreciable Assets | 0 | |||
Cost Capitalized Subsequent to Acquisition, Land | 0 | |||
Cost Capitalized Subsequent to Acquisition, Depreciable Assets | 91,589 | |||
Carrying Amount, Land | 0 | |||
Carrying Amount, Depreciable Assets | 90,857 | |||
Carrying Amount, Total | 90,857 | |||
Accumulated Depreciation | (23,703) | |||
Real Estate Accumulated Depreciation Encumbrances by Group Category One [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Secured debt, collateralized, group of communities | 376,500 | |||
Real Estate Accumulated Depreciation Encumbrances by Group Category Two [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Secured debt, collateralized, group of communities | 398,000 | |||
Real Estate Accumulated Depreciation Encumbrances by Group Category Four [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Secured debt, collateralized, group of communities | 697,400 | |||
Real Estate Accumulated Depreciation Encumbrances by Group Category Five [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Secured debt, collateralized, group of communities | 1,700,000 | |||
Revolving Credit Facility [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Lines of credit | 183,898 | |||
Secured Debt [Member] | Revolving Credit Facility [Member] | ||||
Real Estate and Accumulated Depreciation [Line Items] | ||||
Lines of credit | $ 180,600 |
SCHEDULE III Investment propert
SCHEDULE III Investment property reconciliation (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Beginning balance | $ 7,560,946 | $ 6,882,879 | $ 6,496,339 |
Community and land acquisitions, including immediate improvements | 930,668 | 414,840 | 204,375 |
Community expansion and development | 281,808 | 152,672 | 88,331 |
Improvements, other | 233,984 | 205,006 | 168,315 |
Asset impairment | 0 | 0 | (10,511) |
Dispositions and other | (87,806) | (94,451) | (63,970) |
Ending balance | $ 8,919,600 | $ 7,560,946 | $ 6,882,879 |
SCHEDULE III Accumulated deprec
SCHEDULE III Accumulated depreciation reconciliation (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Real Estate and Accumulated Depreciation [Line Items] | |||
Beginning balance | $ 1,442,630 | $ 1,237,525 | $ 1,026,858 |
Depreciation for the period | 291,605 | 253,952 | 236,422 |
Asset impairment | 0 | 0 | (405) |
Dispositions and other | (47,255) | (48,847) | (25,350) |
Ending balance | $ 1,686,980 | $ 1,442,630 | $ 1,237,525 |