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EXHIBIT 28
UNIPROP INCOME FUND II
2000 PROPERTY APPRAISALS
Cushman & Wakefield has recently completed market value appraisals of Uniprop
Income Fund II's nine properties. The table below sets forth certain appraisal
information for each property, as well as a comparison to the original cash
purchase price:
(IN $1,000)
CASH
3/00 3/99 99/00 PURCHASE 00CPP
PROPERTY APPRAISALS APPRAISALS VARIANCE PRICE VARIANCE
Ardmor Village .... $ 7,750 $ 7,500 3.3% $ 5,316 45.8%
Camelot Manor ..... 7,000 7,000 0.0% 4,600 52.2%
Country Roads ..... 2,600 2,500 4.0% 3,183 (18.3%)
Dutch Hills ....... 6,000 6,000 0.0 4,198 42.9%
El Adobe .......... 12,500 12,300 1.6% 7,400 68.9%
Paradise Village... 8,800 8,800 0.0% 8,800 0.0%
Stonegate Manor.... 7,000 6,800 2.9% 4,652 50.5%
Sunshine Village... 11,500 11,400 0.9% 6,092 88.8%
West Valley ....... 17,500 17,300 1.2% 11,448 52.9%
------- ------- --- -------- -----
Grand Total: ...... $80,650 $79,600 1.3% $ 55,689 44.8%
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2000 ESTIMATED NET ASSET VALUE OF UNITS
Based on the March 2000 appraisal of the Partnership's properties, the General
Partner has calculated the estimated net asset value of each Unit, based on the
following assumptions:
- - Sale of the Properties in March 2000 for their appraised value.
- - Costs and selling expenses are 3.0% of the sale price.
- - Tax consequences of a sale are not taken into consideration.
The estimated net asset value of each unit, assuming the sale of the properties
at their present appraised value is $14.72 calculated as follows:
Aggregate appraised value: $80,650,000
Less: Selling Expenses (3.0%) 2,419,500
Mortgage Debt: 29,572,116
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Net Sales Proceeds: $48,658,384
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Number of Units: 3,303,387
Net Sales Proceeds per unit: $ 14.72