

			Initial Cost to Company		Costs Capitalized Subsequent to Acquisition (Improvements)			Gross Amount Carried at December 31, 2017
Property Name	Location	Encumbrance	Land	Depreciable Assets	Land		Depreciable Assets	Land	Depreciable Assets	Total	Accumulated Depreciation	Date	Acquired (A) or Constructed (C)
49'er Village RV Resort⁽⁴⁾	Plymouth, CA	—	2,180	10,710	—		945	2,180	11,655	13,835	217	2017	(A)
Academy/West Pointe	Canton, MI	B	1,485	14,278	—		8,622	1,485	22,900	24,385	11,527	2000	(A)
Adirondack Gateway RV Resort & Campground	Gansevoort, NY	—	620	1,970	—		2,022	620	3,992	4,612	186	2016	(A)
Allendale Meadows Mobile Village	Allendale, MI	B	366	3,684	—		11,493	366	15,177	15,543	8,595	1996	(A)
Alpine Meadows Mobile Village	Grand Rapids, MI	A	729	6,692	—		10,058	729	16,750	17,479	9,141	1996	(A&C)
Alta Laguna	Rancho Cucamonga, CA	D	23,736	21,088	—		1,260	23,736	22,348	46,084	1,146	2016	(A)
Apple Carr Village	Muskegon, MI	—	800	6,172	—		9,535	800	15,707	16,507	3,430	2011	(A&C)
Apple Creek Manufactured Home Community and Self Storage	Amelia, OH	B	543	5,480	—		2,786	543	8,266	8,809	3,993	1999	(A)
Arbor Terrace RV Park	Bradenton, FL	C	456	4,410	—		4,261	456	8,671	9,127	4,299	1996	(A)
Arbor Woods ⁽⁴⁾	Superior Township, MI	—	3,340	12,385	—		3,785	3,340	16,170	19,510	345	2017	(A)
Ariana Village Mobile Home Park	Lakeland, FL	D	240	2,195	—		1,440	240	3,635	3,875	2,126	1994	(A)
Arran Lake RV Resort & Campground	Allenford, ON ⁽¹⁾	—	1,190	1,175	15		239	1,205	1,414	2,619	73	2016	(A)
Austin Lone Star RV Resort	Austin, TX	—	630	7,913	—		1,534	630	9,447	10,077	498	2016	(A)
Autumn Ridge ⁽³⁾	Ankeny, IA	B	890	8,054	(33	)	4,545	857	12,599	13,456	7,230	1996	(A)
Bahia Vista Estates	Sarasota, FL	—	6,810	17,650	—		751	6,810	18,401	25,211	969	2016	(A)
Baker Acres RV Resort	Zephyrhills, FL	E	2,140	11,880	—		1,593	2,140	13,473	15,613	704	2016	(A)
Bell Crossing ⁽³⁾	Clarksville, TN	B	717	1,916	(13	)	8,505	704	10,421	11,125	5,360	1999	(A&C)
Big Timber Lake RV Resort	Cape May, NJ	A	590	21,308	—		1,915	590	23,223	23,813	4,016	2013	(A)
Big Tree RV Resort	Arcadia, FL	—	1,250	13,534	—		1,372	1,250	14,906	16,156	795	2016	(A)
Blazing Star	San Antonio, TX	C	750	6,163	—		1,669	750	7,832	8,582	1,730	2012	(A)
Blue Heron Pines	Punta Gorda, FL	E	410	35,294	—		2,883	410	38,177	38,587	3,120	2015	(A&C)
Blue Jay MH & RV Resort	Dade City, FL	—	2,040	9,679	—		1,109	2,040	10,788	12,828	540	2016	(A)
Blue Star/Lost Dutchman	Apache Junction, AZ	E	5,120	12,720	—		5,651	5,120	18,371	23,491	2,125	2014	(A)



			Initial Cost to Company		Costs Capitalized Subsequent to Acquisition (Improvements)		Gross Amount Carried at December 31, 2017
Property Name	Location	Encumbrance	Land	Depreciable Assets	Land	Depreciable Assets	Land	Depreciable Assets	Total	Accumulated Depreciation	Date	Acquired (A) or Constructed (C)
Blueberry Hill	Bushnell, FL	C	3,830	3,240	—	2,970	3,830	6,210	10,040	1,534	2012	(A)
Boulder Ridge	Pflugerville, TX	B	1,000	500	3,324	27,780	4,324	28,280	32,604	12,277	1998	(C)
Branch Creek Estates	Austin, TX	B	796	3,716	—	5,790	796	9,506	10,302	6,034	1995	(A&C)
Brentwood Estates	Hudson, FL	E	1,150	9,359	—	2,530	1,150	11,889	13,039	1,006	2015	(A)
Brentwood Mobile Village	Kentwood, MI	B	385	3,592	—	2,219	385	5,811	6,196	3,646	1996	(A)
Brentwood West	Mesa, AZ	B	13,620	24,202	—	1,139	13,620	25,341	38,961	3,095	2014	(A)
Brookside Mobile Home Village	Goshen, IN	B	260	1,080	386	16,993	646	18,073	18,719	8,418	1985	(A&C)
Brookside Village	Kentwood, MI	D	170	5,564	—	502	170	6,066	6,236	1,401	2011	(A)
Buttonwood Bay	Sebring, FL	D	1,952	18,294	—	6,355	1,952	24,649	26,601	12,663	2001	(A)
Byron Center Mobile Village	Byron Center, MI	A	253	2,402	—	2,291	253	4,693	4,946	2,917	1996	(A)
Caliente Sands ⁽⁴⁾	Cathedral City, CA	—	1,930	6,710	—	58	1,930	6,768	8,698	118	2017	(A)
Camelot Villa	Macomb, MI	A	910	21,211	—	11,738	910	32,949	33,859	5,830	2013	(A)
Campers Haven RV Resort	Dennisport, MA	—	14,260	11,915	—	1,022	14,260	12,937	27,197	697	2016	(A)
Candlelight Manor	South Dakota, FL	—	3,140	3,867	—	948	3,140	4,815	7,955	227	2016	(A)
Candlelight Village	Sauk Village, IL	A	600	5,623	—	10,691	600	16,314	16,914	8,491	1996	(A)
Cape May Crossing	Cape May, NJ	—	270	1,693	—	462	270	2,155	2,425	111	2016	(A)
Cape May KOA	Cape May, NJ	C	650	7,736	—	6,351	650	14,087	14,737	2,797	2013	(A)
Carolina Pines RV Resort ⁽⁵⁾	Longs, SC	—	5,900	—	—	366	5,900	366	6,266	—	2017	(A)
Carriage Cove	Sanford, FL	E	6,050	21,235	—	2,308	6,050	23,543	29,593	2,955	2014	(A)
Carrington Pointe	Ft. Wayne, IN	—	1,076	3,632	—	12,389	1,076	16,021	17,097	6,401	1997	(A&C)
Castaways RV Resort & Campground	Berlin, MD	A	14,320	22,277	—	4,894	14,320	27,171	41,491	3,810	2014	(A&C)
Cava Robles RV Resort ⁽⁵⁾	Paso Robles, CA	—	1,396	—	—	14,702	1,396	14,702	16,098	—	2014	(C)
Cave Creek	Evans, CO	B	2,241	15,343	—	11,369	2,241	26,712	28,953	8,969	2004	(C)
Central Park MH & RV Resort	Haines City, FL	—	2,600	10,405	—	1,096	2,600	11,501	14,101	606	2016	(A)
Chisholm Point Estates	Pflugerville, TX	—	609	5,286	—	4,079	609	9,365	9,974	5,989	1995	(A&C)
Cider Mill Crossings	Fenton, MI	C	520	1,568	—	21,686	520	23,254	23,774	5,433	2011	(A&C)
Cider Mill Village	Middleville, MI	A	250	3,590	—	3,292	250	6,882	7,132	1,922	2011	(A)
Citrus Hill RV Resort	Dade City, FL	—	1,170	2,422	—	824	1,170	3,246	4,416	164	2016	(A)



			Initial Cost to Company		Costs Capitalized Subsequent to Acquisition (Improvements)		Gross Amount Carried at December 31, 2017
Property Name	Location	Encumbrance	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	80	1,270	61	6,567	141	7,837	7,978	4,078	1986	(A)
Club Naples	Naples, FL	C	5,780	4,952	—	2,703	5,780	7,655	13,435	1,987	2011	(A)
Club Wildwood	Hudson, FL	E	14,206	21,275	—	736	14,206	22,011	36,217	1,128	2016	(A)
Cobus Green Mobile Home Park	Osceola, IN	A	762	7,037	—	9,203	762	16,240	17,002	8,589	1993	(A)
Colony in the Wood ⁽⁴⁾	Port Orange, FL	—	—	32,478	—	9	—	32,487	32,487	—	2017	(A&C)
The Colony⁽²⁾	Oxnard, CA	—	—	6,437	—	787	—	7,224	7,224	367	2016	(A)
Comal Farms	New Braunfels, TX	C	1,455	1,732	—	9,074	1,455	10,806	12,261	4,970	2000	(A&C)
Continental North	Davison, MI	A	749	6,089	—	14,348	749	20,437	21,186	10,708	1996	(A&C)
Corporate Headquarters ⁽⁵⁾	Southfield, MI	—	—	—	—	64,969	—	64,969	64,969	16,183	Various
Country Acres Mobile Village	Cadillac, MI	A	380	3,495	—	3,903	380	7,398	7,778	4,075	1996	(A)
Country Hills Village	Hudsonville, MI	A	340	3,861	—	1,863	340	5,724	6,064	1,729	2011	(A)
Country Meadows Mobile Village	Flat Rock, MI	B	924	7,583	296	19,272	1,220	26,855	28,075	15,951	1994	(A&C)
Country Meadows Village	Caledonia, MI	C	550	5,555	—	7,713	550	13,268	13,818	2,168	2011	(A&C)
Country Squire MH & RV Resort	Paisley, FL	—	520	1,719	—	1,001	520	2,720	3,240	127	2016	(A)
Countryside Atlanta	Lawrenceville, GA	C	1,274	10,957	—	5,289	1,274	16,246	17,520	5,496	2004	(A&C)
Countryside Estates	Mckean, PA	E	320	11,610	—	1,501	320	13,111	13,431	1,592	2014	(A)
Countryside Gwinnett	Buford, GA	A	1,124	9,539	—	3,840	1,124	13,379	14,503	6,515	2004	(A)
Countryside Lake Lanier	Buford, GA	B	1,916	16,357	—	9,002	1,916	25,359	27,275	10,976	2004	(A)
Countryside Village	Great Falls, MT	C	430	7,157	—	950	430	8,107	8,537	962	2014	(A)
Craigleith RV Resort & Campground	Clarksburg, ON⁽¹⁾	—	420	705	5	219	425	924	1,349	44	2016	(A)
Creekwood Meadows	Burton, MI	A	808	2,043	404	15,334	1,212	17,377	18,589	9,438	1997	(C)
Cutler Estates Mobile Village	Grand Rapids, MI	B	749	6,941	—	4,102	749	11,043	11,792	6,646	1996	(A)
Cypress Greens	Lake Alfred, FL	E	960	17,518	—	1,353	960	18,871	19,831	1,622	2015	(A)
Daytona Beach RV Resort	Port Orange, FL	—	2,300	7,158	—	1,607	2,300	8,765	11,065	476	2016	(A)
Deer Lake RV Resort & Campground	Huntsville, ON⁽¹⁾	—	2,830	4,260	35	584	2,865	4,844	7,709	237	2016	(A)
Deerfield Run	Anderson, IN	C	990	1,607	—	6,999	990	8,606	9,596	3,958	1999	(A&C)
Deerwood	Orlando, FL	B	6,920	37,593	—	4,804	6,920	42,397	49,317	3,673	2015	(A)
Desert Harbor	Apache Junction, AZ	E	3,940	14,891	—	310	3,940	15,201	19,141	1,842	2014	(A)



			Initial Cost to Company		Costs Capitalized Subsequent to Acquisition (Improvements)		Gross Amount Carried at December 31, 2017
Property Name	Location	Encumbrance	Land	Depreciable Assets	Land	Depreciable Assets	Land	Depreciable Assets	Total	Accumulated Depreciation	Date	Acquired (A) or Constructed (C)
Driftwood Camping Resort	Clermont, NJ	D	1,450	29,851	—	2,713	1,450	32,564	34,014	4,389	2014	(A)
Dunedin RV Resort	Dunedin, FL	E	4,400	16,923	—	1,327	4,400	18,250	22,650	959	2016	(A)
Dutton Mill Village	Caledonia, MI	A	370	8,997	—	1,759	370	10,756	11,126	2,664	2011	(A)
Eagle Crest	Firestone, CO	B	2,015	150	—	30,614	2,015	30,764	32,779	14,732	1998	(C)
East Fork	Batavia, OH	C	1,280	6,302	—	19,771	1,280	26,073	27,353	9,611	2000	(A&C)
East Village Estates	Washington Twp., MI	A	1,410	25,413	—	4,904	1,410	30,317	31,727	6,136	2012	(A)
Egelcraft	Muskegon, MI	D	690	22,596	—	2,228	690	24,824	25,514	3,117	2014	(A)
Ellenton Gardens RV Resort	Ellenton, FL	E	2,130	7,755	—	1,353	2,130	9,108	11,238	478	2016	(A)
Emerald Coast RV Resort⁽⁴⁾	Panama City Beach, FL	—	10,330	9,070	—	49	10,330	9,119	19,449	166	2017	(A)
Fairfield Village	Ocala, FL	B	1,160	18,673	—	315	1,160	18,988	20,148	1,648	2015	(A)
Fiesta Village	Mesa, AZ	—	2,830	4,475	—	838	2,830	5,313	8,143	634	2014	(A)
Fisherman's Cove	Flint, MI	A	380	3,438	—	4,001	380	7,439	7,819	4,761	1993	(A)
Forest Meadows	Philomath, OR	A	1,031	2,050	—	538	1,031	2,588	3,619	1,465	1999	(A)
Forest View	Homosassa, FL	B	1,330	22,056	—	450	1,330	22,506	23,836	1,956	2015	(A)
Fort Tatham RV Resort & Campground	Sylva, NC	—	110	760	—	701	110	1,461	1,571	73	2016	(A)
Fort Whaley	Whaleyville, MD	C	510	5,194	—	3,910	510	9,104	9,614	679	2015	(A)
Four Seasons	Elkhart, IN	A	500	4,811	—	3,533	500	8,344	8,844	4,089	2000	(A)
Frenchtown Villa/Elizabeth Woods	Newport, MI	E	1,450	52,327	—	15,702	1,450	68,029	69,479	7,837	2014	(A&C)
Friendly Village of La Habra	La Habra, CA	D	26,956	25,202	—	1,092	26,956	26,294	53,250	1,407	2016	(A)
Friendly Village of Modesto	Modesto, CA	D	6,260	20,885	—	1,029	6,260	21,914	28,174	1,093	2016	(A)
Friendly Village of Simi	Simi Valley, CA	D	14,906	15,986	—	860	14,906	16,846	31,752	864	2016	(A)
Friendly Village of West Covina	West Covina, CA	D	14,520	5,221	—	722	14,520	5,943	20,463	324	2016	(A)
Frontier Town	Ocean City, MD	C	18,960	43,166	—	8,132	18,960	51,298	70,258	4,530	2015	(A)
Glen Haven RV Resort	Zephyrhills, FL	E	1,980	8,373	—	1,138	1,980	9,511	11,491	508	2016	(A)
Glen Laurel	Concord, NC	C	1,641	453	—	13,981	1,641	14,434	16,075	6,951	2001	(A&C)
Gold Coaster	Homestead, FL	A	446	4,234	172	5,241	618	9,475	10,093	4,774	1997	(A)
Grand Bay	Dunedin, FL	—	3,460	6,314	—	643	3,460	6,957	10,417	354	2016	(A)



			Initial Cost to Company		Costs Capitalized Subsequent to Acquisition (Improvements)				Gross Amount Carried at December 31, 2017
Property Name	Location	Encumbrance	Land	Depreciable Assets	Land		Depreciable Assets		Land	Depreciable Assets	Total	Accumulated Depreciation	Date	Acquired (A) or Constructed (C)
Grand Lakes	Citra, FL	C	5,280	4,501	—		3,524		5,280	8,025	13,305	1,895	2012	(A)
Grand Mobile Estates	Grand Rapids, MI	B	374	3,587	—		3,848		374	7,435	7,809	3,723	1996	(A)
Grand Oaks RV Resort & Campground	Cayuga, ON⁽¹⁾	—	970	4,220	12		453		982	4,673	5,655	229	2016	(A)
The Grove at Alta Ridge⁽³⁾	Thornton, CO	E	5,370	37,116	—		(30	)	5,370	37,086	42,456	4,419	2014	(A)
Grove Ridge RV Resort	Dade City, FL	E	1,290	5,387	—		1,080		1,290	6,467	7,757	341	2016	(A)
Groves RV Resort	Ft. Myers, FL	A	249	2,396	—		3,808		249	6,204	6,453	2,755	1997	(A)
Gulfstream Harbor	Orlando, FL	B	14,510	78,930	—		4,137		14,510	83,067	97,577	7,209	2015	(A)
Gulliver's Lake RV Resort & Campground	Millgrove, ON ⁽¹⁾	—	2,950	2,950	37		324		2,987	3,274	6,261	170	2016	(A)
Gwynn's Island RV Resort & Campground	Gwynn, VA	C	760	595	—		1,983		760	2,578	3,338	499	2013	(A)
Hamlin	Webberville, MI	B	125	1,675	536		13,437		661	15,112	15,773	6,470	1984	(A&C)
The Hamptons	Auburndale, FL	B	15,890	67,555	—		1,973		15,890	69,528	85,418	5,930	2015	(A)
Heritage	Temecula, CA	D	13,200	7,877	—		986		13,200	8,863	22,063	465	2016	(A)
Hickory Hills Village	Battle Creek, MI	—	760	7,697	—		2,295		760	9,992	10,752	2,685	2011	(A)
Hidden Ridge RV Resort	Hopkins, MI	C	440	893	—		2,906		440	3,799	4,239	803	2011	(A)
Hidden River RV Resort	Riverview, FL	—	3,950	6,376	—		1,199		3,950	7,575	11,525	398	2016	(A)
Hidden Valley RV Resort & Campground	Normandale, ON ⁽¹⁾	—	2,610	4,170	33		1,035		2,643	5,205	7,848	248	2016	(A)
The Hideaway	Key West, FL	—	2,720	972	—		521		2,720	1,493	4,213	80	2016	(A)
High Pointe ⁽³⁾	Frederica, DE	—	898	7,031	(42	)	6,792		856	13,823	14,679	6,686	1997	(A)
Hill Country Cottage and RV Resort	New Braunfels, TX	C	3,790	27,200	—		1,828		3,790	29,028	32,818	1,794	2016	(A&C)
The Hills	Apopka, FL	—	1,790	3,869	—		968		1,790	4,837	6,627	241	2016	(A)
Holiday West Village	Holland, MI	B	340	8,067	—		1,260		340	9,327	9,667	2,318	2011	(A)
Holly Forest Estates	Holly Hill, FL	B	920	8,376	—		1,336		920	9,712	10,632	5,996	1997	(A)
Holly Village / Hawaiian Gardens	Holly, MI	B	1,514	13,596	—		5,242		1,514	18,838	20,352	7,853	2004	(A)
Homosassa River RV Resort	Homosassa Springs, FL	—	1,520	5,020	—		1,625		1,520	6,645	8,165	365	2016	(A)
Horseshoe Cove RV Resort	Bradenton, FL	E	9,466	32,612	—		2,601		9,466	35,213	44,679	1,852	2016	(A)
Hunters Crossing	Capac, MI	C	430	1,092	—		1,247		430	2,339	2,769	453	2012	(A)
Hunters Glen	Wayland, MI	C	1,102	11,926	—		11,469		1,102	23,395	24,497	7,828	2004	(C)



			Initial Cost to Company		Costs Capitalized Subsequent to Acquisition (Improvements)			Gross Amount Carried at December 31, 2017
Property Name	Location	Encumbrance	Land	Depreciable Assets	Land		Depreciable Assets	Land	Depreciable Assets	Total	Accumulated Depreciation	Date	Acquired (A) or Constructed (C)
Indian Creek Park	Ft. Myers Beach, FL	D	3,832	34,660	—		11,283	3,832	45,943	49,775	28,304	1996	(A)
Indian Creek RV & Camping Resort ⁽³⁾	Geneva on the Lake, OH	C	420	20,791	(5	)	6,683	415	27,474	27,889	4,186	2013	(A&C)
Indian Wells RV Resort	Indio, CA	D	2,880	19,470	—		1,964	2,880	21,434	24,314	1,145	2016	(A)
Island Lakes	Merritt Island, FL	D	700	6,431	—		809	700	7,240	7,940	5,037	1995	(A)
Jellystone Park(TM) at Birchwood Acres	Greenfield Park, NY	A	560	5,527	—		5,246	560	10,773	11,333	2,242	2013	(A)
Jellystone Park(TM) at Larkspur	Larkspur, CO	—	1,880	5,521	—		2,246	1,880	7,767	9,647	362	2016	(A)
Jellystone Park(TM) of Western New York	North Java, NY	A	870	8,884	—		6,205	870	15,089	15,959	2,772	2013	(A)
Kensington Meadows	Lansing, MI	B	250	2,699	—		8,406	250	11,105	11,355	6,706	1995	(A&C)
Kimberly Estates	Newport, MI	C	1,250	6,160	—		8,041	1,250	14,201	15,451	827	2016	(A)
Kings Court Mobile Village	Traverse City, MI	—	1,473	13,782	269		7,148	1,742	20,930	22,672	12,097	1996	(A&C)
Kings Lake	DeBary, FL	D	280	2,542	—		2,798	280	5,340	5,620	3,314	1994	(A)
Kings Manor	Lakeland, FL	—	2,270	5,578	—		1,670	2,270	7,248	9,518	330	2016	(A)
King's Pointe	Lake Alfred, FL	B	510	16,763	—		478	510	17,241	17,751	1,472	2015	(A)
Kissimmee Gardens	Kissimmee, FL	—	3,270	14,402	—		1,042	3,270	15,444	18,714	781	2016	(A)
Kissimmee South RV Resort	Davenport, FL	—	3,740	6,819	—		1,489	3,740	8,308	12,048	437	2016	(A)
Knollwood Estates	Allendale, MI	A	400	4,061	—		4,202	400	8,263	8,663	4,243	2001	(A)
La Casa Blanca	Apache Junction, AZ	B	4,370	14,142	—		587	4,370	14,729	19,099	1,786	2014	(A)
La Costa Village	Port Orange, FL	D	3,640	62,315	—		1,381	3,640	63,696	67,336	5,443	2015	(A)
La Hacienda RV Resort	Austin, TX	C	3,670	22,225	—		922	3,670	23,147	26,817	2,445	2015	(A)
Lafayette Place	Warren, MI	A	669	5,979	—		7,616	669	13,595	14,264	7,066	1998	(A)
Lafontaine RV Resort & Campground	Tiny, ON ⁽¹⁾	—	1,290	2,075	16		1,235	1,306	3,310	4,616	133	2016	(A)
Lake Avenue RV Resort & Campground	Cherry Valley, ON ⁽¹⁾	—	670	1,290	8		459	678	1,749	2,427	90	2016	(A)
Lake In Wood	Narvon, PA	A	7,360	7,097	—		1,553	7,360	8,650	16,010	1,902	2012	(A)
Lake Josephine	Sebring, FL	—	490	2,830	—		432	490	3,262	3,752	57	2016	(A)
Lake Juliana Landings	Auburndale, FL	A	335	3,048	—		1,806	335	4,854	5,189	3,066	1994	(A)
Lake Pointe Village	Mulberry, FL	D	480	29,795	—		399	480	30,194	30,674	2,584	2015	(A)
Lake Rudolph Campground & RV Resort	Santa Claus, IN	A	2,340	28,113	—		6,698	2,340	34,811	37,151	6,100	2014	(A&C)



			Initial Cost to Company		Costs Capitalized Subsequent to Acquisition (Improvements)		Gross Amount Carried at December 31, 2017
Property Name	Location	Encumbrance	Land	Depreciable Assets	Land	Depreciable Assets	Land	Depreciable Assets	Total	Accumulated Depreciation	Date	Acquired (A) or Constructed (C)
Lake San Marino RV Park	Naples, FL	A	650	5,760	—	4,165	650	9,925	10,575	5,237	1996	(A)
Lakefront	Lakeside, CA	D	21,556	17,440	—	953	21,556	18,393	39,949	948	2016	(A)
Lakeland RV Resort	Lakeland, FL	—	1,730	5,524	—	1,340	1,730	6,864	8,594	334	2016	(A)
Lakeshore Landings	Orlando, FL	D	2,570	19,481	—	1,276	2,570	20,757	23,327	2,476	2014	(A)
Lakeshore Villas	Tampa, FL	B	3,080	18,983	—	740	3,080	19,723	22,803	1,689	2015	(A)
Lakeside Crossing	Conway, SC	D	3,520	31,615	—	6,549	3,520	38,164	41,684	2,859	2015	(A&C)
Lakeview	Ypsilanti, MI	C	1,156	10,903	—	6,643	1,156	17,546	18,702	7,570	2004	(A)
Lamplighter	Port Orange, FL	B	1,330	12,846	—	671	1,330	13,517	14,847	1,160	2015	(A)
Lazy J Ranch⁽⁴⁾	Arcata, CA	—	7,100	6,838	—	—	7,100	6,838	13,938	122	2017	(A)
Leisure Village	Belmont, MI	C	360	8,219	—	809	360	9,028	9,388	1,917	2011	(A)
Lemon Wood	Ventura, CA	D	19,540	6,918	—	868	19,540	7,786	27,326	406	2016	(A)
Liberty Farms	Valparaiso, IN	C	66	1,201	116	3,577	182	4,778	4,960	2,739	1985	(A&C)
Lincoln Estates	Holland, MI	—	455	4,201	—	2,869	455	7,070	7,525	4,267	1996	(A)
Long Beach RV Resort & Campground	Barnegat, NJ	—	710	3,414	—	835	710	4,249	4,959	211	2016	(A)
Majestic Oaks RV Resort	Zephyrhills, FL	E	3,940	4,725	28	1,166	3,968	5,891	9,859	311	2016	(A)
Maple Brook	Matteson, IL	B	8,460	48,865	—	571	8,460	49,436	57,896	5,976	2014	(A)
Maplewood Manor	Brunswick, ME	E	1,770	12,982	—	1,529	1,770	14,511	16,281	1,766	2014	(A)
Marco Naples RV Resort	Naples, FL	—	2,790	10,458	—	1,369	2,790	11,827	14,617	629	2016	(A)
Meadow Lake Estates	White Lake, MI	B	1,188	11,498	127	8,719	1,315	20,217	21,532	13,569	1994	(A)
Meadowbrook	Charlotte, NC	C	1,310	6,570	—	15,277	1,310	21,847	23,157	8,853	2000	(A&C)
Meadowbrook Estates	Monroe, MI	A	431	3,320	379	13,888	810	17,208	18,018	10,249	1986	(A)
Meadowbrook Village	Tampa, FL	B	519	4,728	—	1,090	519	5,818	6,337	4,120	1994	(A)
Meadowlands of Gibraltar	Rockwood, MI	A	640	7,673	—	4,997	640	12,670	13,310	1,296	2015	(A)
Merrymeeting	Brunswick, ME	C	250	1,020	—	836	250	1,856	2,106	240	2014	(A)
Mill Creek RV Resort	Kissimmee, FL	—	1,400	4,839	—	1,312	1,400	6,151	7,551	338	2016	(A)
Mountain View	Mesa, AZ	B	5,490	12,325	—	404	5,490	12,729	18,219	1,570	2014	(A)
Napa Valley	Napa, CA	D	17,740	11,675	—	615	17,740	12,290	30,030	664	2016	(A)
Naples RV Resort	Naples, FL	C	3,640	2,020	—	1,828	3,640	3,848	7,488	940	2011	(A)
New Point RV Resort	New Point, VA	C	1,550	5,259	—	4,090	1,550	9,349	10,899	1,753	2013	(A)
New Ranch	Clearwater, FL	—	2,270	2,723	—	703	2,270	3,426	5,696	173	2016	(A)
North Lake	Moore Haven, FL	C	4,150	3,486	—	1,745	4,150	5,231	9,381	1,404	2011	(A)
North Point Estates	Pueblo, CO	C	1,582	3,027	—	5,039	1,582	8,066	9,648	3,790	2001	(C)



			Initial Cost to Company		Costs Capitalized Subsequent to Acquisition (Improvements)				Gross Amount Carried at December 31, 2017
Property Name	Location	Encumbrance	Land	Depreciable Assets	Land		Depreciable Assets		Land	Depreciable Assets	Total	Accumulated Depreciation	Date	Acquired (A) or Constructed (C)
Northville Crossings	Northville, MI	B	1,236	29,564	—		8,798		1,236	38,362	39,598	8,992	2012	(A)
Oak Creek	Coarsegold, CA	B	4,760	11,185	—		1,492		4,760	12,677	17,437	1,511	2014	(A)
Oak Crest	Austin, TX	B	4,311	12,611	—		9,266		4,311	21,877	26,188	8,949	2002	(C)
Oak Island Village	East Lansing, MI	—	320	6,843	—		2,602		320	9,445	9,765	2,440	2011	(A)
Oak Ridge	Manteno, IL	D	1,090	36,941	—		2,947		1,090	39,888	40,978	4,785	2014	(A)
Oakview Estates	Arcadia, FL	—	850	3,881	—		793		850	4,674	5,524	237	2016	(A)
Oakwood Village	Miamisburg, OH	B	1,964	6,401	—		14,521		1,964	20,922	22,886	11,107	1998	(A&C)
Ocean Breeze⁽⁶⁾	Marathon, FL	—	2,330	1,770	—		(1,727	)	2,330	43	2,373	—	2016	(A)
Ocean Breeze Jensen Beach	Jensen Beach, FL	—	19,026	13,862	—		13,340		19,026	27,202	46,228	924	2016	(A&C)
Ocean West ⁽⁴⁾	McKinleyville, CA	B	5,040	4,413	27		—		5,067	4,413	9,480	79	2017	(A)
Orange City MH & RV Resort	Orange City, FL	C	920	5,540	—		1,882		920	7,422	8,342	1,703	2011	(A)
Orange Tree Village	Orange City, FL	D	283	2,530	15		1,124		298	3,654	3,952	2,526	1994	(A)
Orchard Lake ⁽³⁾	Milford, OH	C	395	4,025	(15	)	1,715		380	5,740	6,120	2,817	1999	(A)
Paddock Park South	Ocala, FL	—	630	6,601	—		594		630	7,195	7,825	359	2016	(A)
Palm Creek Golf & RV Resort	Casa Grande, AZ	D	11,836	76,143	—		19,029		11,836	95,172	107,008	19,591	2012	(A&C)
Palm Key Village	Davenport, FL	B	3,840	15,661	—		996		3,840	16,657	20,497	1,469	2015	(A)
Palm Village	Bradenton, FL	—	2,970	2,849	—		763		2,970	3,612	6,582	183	2016	(A)
Palos Verdes Shores MH & Golf Community⁽²⁾	San Pedro, CA	D	—	21,815	—		1,525		—	23,340	23,340	1,172	2016	(A)
Park Place	Sebastian, FL	D	1,360	48,678	—		2,216		1,360	50,894	52,254	4,234	2015	(A)
Park Royale	Pinellas Park, FL	D	670	29,046	—		243		670	29,289	29,959	2,513	2015	(A)
Parkside Village	Cheektowaga, NY	B	550	10,402	—		288		550	10,690	11,240	1,279	2014	(A)
Pebble Creek	Greenwood, IN	C	1,030	5,074	—		7,575		1,030	12,649	13,679	6,343	2000	(A&C)
Pecan Branch	Georgetown, TX	C	1,379	—	235		7,231		1,614	7,231	8,845	2,098	1999	(C)
Pecan Park RV Resort	Jacksonville, FL	—	2,000	5,000	—		820		2,000	5,820	7,820	286	2016	(A)
Pelican Bay	Micco, FL	—	470	10,543	—		1,182		470	11,725	12,195	1,036	2015	(A)
Pelican Bay Resort & Marina	Marathon, FL	D	4,760	4,742	—		1,237		4,760	5,979	10,739	308	2016	(A)
Pembroke Downs	Chino, CA	D	9,560	7,269	—		681		9,560	7,950	17,510	387	2016	(A)
Peter's Pond RV Resort	Sandwich, MA	C	4,700	22,840	—		3,534		4,700	26,374	31,074	5,241	2013	(A)
Petoskey RV Resort	Petoskey, MI	—	230	3,270	—		1,252		230	4,522	4,752	234	2016	(A)



			Initial Cost to Company		Costs Capitalized Subsequent to Acquisition (Improvements)			Gross Amount Carried at December 31, 2017
Property Name	Location	Encumbrance	Land	Depreciable Assets	Land		Depreciable Assets	Land	Depreciable Assets	Total	Accumulated Depreciation	Date	Acquired (A) or Constructed (C)
Pheasant Ridge	Lancaster, PA	A	2,044	19,279	—		736	2,044	20,015	22,059	10,207	2002	(A)
Pickerel Park RV Resort & Campground	Napanee, ON⁽¹⁾	—	900	2,125	11		394	911	2,519	3,430	126	2016	(A)
Pin Oak Parc	O'Fallon, MO	B	1,038	3,250	467		14,134	1,505	17,384	18,889	8,127	1994	(A&C)
Pine Hills	Middlebury, IN	A	72	544	60		3,587	132	4,131	4,263	2,300	1980	(A)
Pine Ridge	Prince George, VA	B	405	2,397	—		6,225	405	8,622	9,027	4,074	1986	(A&C)
Pine Trace ⁽³⁾	Houston, TX	C	2,907	17,169	(257	)	19,511	2,650	36,680	39,330	12,190	2004	(A&C)
Pinebrook Village	Grand Rapids, MI	C	130	5,692	—		1,687	130	7,379	7,509	1,940	2011	(A)
Pismo Dunes Resort⁽⁴⁾	Pismo Beach, CA	—	11,070	10,190	—		29	11,070	10,219	21,289	183	2017	(A)
Plantation Landings	Haines City, FL	D	3,070	30,973	—		1,897	3,070	32,870	35,940	2,737	2015	(A)
Pleasant Lake RV Resort	Bradenton, FL	E	5,220	20,403	—		1,523	5,220	21,926	27,146	1,149	2016	(A)
Presidential Estates Mobile Village	Hudsonville, MI	B	680	6,314	—		6,512	680	12,826	13,506	7,453	1996	(A)
Rainbow RV Resort	Frostproof, FL	A	1,890	5,682	—		4,058	1,890	9,740	11,630	1,992	2012	(A)
Rainbow Village of Largo	Largo, FL	E	4,420	12,529	—		1,969	4,420	14,498	18,918	764	2016	(A)
Rainbow Village of Zephyrhills	Zephyrhills. FL	—	1,800	9,884	—		1,203	1,800	11,087	12,887	577	2016	(A)
Rancho Alipaz⁽²⁾	San Juan Capistrano, CA	—	—	2,856	4,000		751	4,000	3,607	7,607	182	2016	(A)
Rancho Caballero	Riverside, CA	D	16,560	12,446	—		813	16,560	13,259	29,819	664	2016	(A)
Rancho Mirage	Apache Junction, AZ	B	7,510	22,238	—		969	7,510	23,207	30,717	2,787	2014	(A)
Red Oaks RV Resort⁽²⁾	Bushnell, FL	—	5,180	20,499	—		1,768	5,180	22,267	27,447	1,229	2016	(A)
Regency Heights	Clearwater, FL	—	11,330	15,734	—		1,059	11,330	16,793	28,123	833	2016	(A)
Reserve at Fox Creek	Bullhead City, AZ	D	1,950	20,074	—		1,147	1,950	21,221	23,171	2,526	2014	(A)
Richmond Place ⁽³⁾	Richmond, MI	A	501	2,040	(31	)	2,737	470	4,777	5,247	2,332	1998	(A)
The Ridge	Davenport, FL	B	8,350	35,463	—		2,646	8,350	38,109	46,459	3,257	2015	(A)
Riptide RV Resort & Marina	Key Largo, FL	—	2,440	991	—		1,052	2,440	2,043	4,483	90	2016	(A)
River Haven Village	Grand Haven, MI	C	1,800	16,967	—		11,058	1,800	28,025	29,825	12,518	2001	(A)
River Ranch ⁽³⁾	Austin, TX	C	4,690	843	(4	)	44,391	4,686	45,234	49,920	10,097	2000	(A&C)
River Ridge	Austin, TX	A	3,201	15,090	—		9,945	3,201	25,035	28,236	11,389	2002	(C)
Riverside Club	Ruskin, FL	D	1,600	66,207	—		3,745	1,600	69,952	71,552	5,925	2015	(A)
Rock Crusher Canyon RV Park	Crystal River, FL	C	420	5,542	121		2,435	541	7,977	8,518	829	2015	(A)
Roxbury Park	Goshen, IN	B	1,057	9,870	—		4,106	1,057	13,976	15,033	6,914	2001	(A)



			Initial Cost to Company		Costs Capitalized Subsequent to Acquisition (Improvements)				Gross Amount Carried at December 31, 2017
Property Name	Location	Encumbrance	Land	Depreciable Assets	Land		Depreciable Assets		Land	Depreciable Assets	Total	Accumulated Depreciation	Date	Acquired (A) or Constructed (C)
Royal Country	Miami, FL	E	2,290	20,758	—		2,412		2,290	23,170	25,460	17,342	1994	(A)
Royal Palm Village	Haines City, FL	E	1,730	27,446	—		2,197		1,730	29,643	31,373	2,544	2015	(A)
Royal Palms MH & RV Resort⁽²⁾	Cathedral City, CA	—	—	21,660	—		913		—	22,573	22,573	1,174	2016	(A)
Rudgate Clinton	Clinton Township, MI	A	1,090	23,664	—		7,175		1,090	30,839	31,929	6,397	2012	(A)
Rudgate Manor	Sterling Heights, MI	A	1,440	31,110	—		9,631		1,440	40,741	42,181	8,509	2012	(A)
Saco/Old Orchard Beach KOA	Saco, ME	C	790	3,576	—		5,134		790	8,710	9,500	1,142	2014	(A)
Saddle Oak Club	Ocala, FL	B	730	6,743	—		1,427		730	8,170	8,900	5,825	1995	(A)
Saddlebrook	San Marcos, TX	C	1,703	11,843	—		21,588		1,703	33,431	35,134	10,625	2002	(C)
San Pedro RV Resort & Marina⁽⁶⁾	Islamorada, FL	—	3,110	2,416	—		(2,376	)	3,110	40	3,150	—	2016	(A)
Sandy Lake MH & RV Resort	Carrolton, TX	—	730	17,837	—		1,127		730	18,964	19,694	967	2016	(A)
Saralake Estates	Sarasota, FL	—	6,540	11,403	—		705		6,540	12,108	18,648	638	2016	(A)
Savanna Club	Port St. Lucie, FL	D	12,810	79,887	—		195		12,810	80,082	92,892	6,895	2015	(A&C)
Scio Farms Estates⁽³⁾	Ann Arbor, MI	B	2,300	22,659	(12	)	14,754		2,288	37,413	39,701	23,970	1995	(A&C)
Sea Air Village	Rehoboth Beach, DE	—	1,207	10,179	—		2,371		1,207	12,550	13,757	6,265	1997	(A)
Sea Breeze Resort⁽⁶⁾	Islamorada, FL	—	7,390	4,616	—		(4,438	)	7,390	178	7,568	—	2016	(A)
Seaport RV Resort	Old Mystic, CT	C	120	290	—		2,369		120	2,659	2,779	868	2013	(A)
Seashore Campsites RV Park and Campground	Cape May, NJ	D	1,030	23,228	—		2,670		1,030	25,898	26,928	3,458	2014	(A)
Serendipity	North Fort Myers, FL	B	1,160	23,522	—		2,338		1,160	25,860	27,020	2,331	2015	(A)
Settler's Rest RV Resort	Zephyrhills, FL	—	1,760	7,685	—		980		1,760	8,665	10,425	452	2016	(A)
Shadow Wood Village	Hudson, FL	—	4,520	3,898	—		819		4,520	4,717	9,237	225	2016	(A)
Shady Pines MH & RV Resort	Galloway Township, NJ	—	1,060	3,768	—		793		1,060	4,561	5,621	230	2016	(A)
Shady Road Villas	Ocala, FL	—	450	2,819	—		603		450	3,422	3,872	161	2016	(A)
Sheffield Estates	Auburn Hills, MI	C	778	7,165	—		2,260		778	9,425	10,203	3,829	2006	(A)
Shell Creek RV Resort & Marina	Punta Gorda, FL	E	2,200	9,662	—		884		2,200	10,546	12,746	538	2016	(A)
Sherkston Shores Beach Resort & Campground	Sherkston, ON⁽¹⁾	—	22,750	97,164	283		3,712		23,033	100,876	123,909	5,445	2016	(A)
Siesta Bay RV Park	Ft. Myers, FL	A	2,051	18,549	4		4,735		2,055	23,284	25,339	14,748	1996	(A)
Silver Birches RV Resort & Campground	Lambton Shores, ON⁽¹⁾	—	880	1,540	11		355		891	1,895	2,786	93	2016	(A)



			Initial Cost to Company		Costs Capitalized Subsequent to Acquisition (Improvements)				Gross Amount Carried at December 31, 2017
Property Name	Location	Encumbrance	Land	Depreciable Assets	Land		Depreciable Assets		Land	Depreciable Assets	Total	Accumulated Depreciation	Date	Acquired (A) or Constructed (C)
Silver Springs	Clinton Township, MI	B	861	16,595	—		3,964		861	20,559	21,420	4,509	2012	(A)
Sky Harbor	Cheektowaga, NY	A	2,318	24,253	—		4,179		2,318	28,432	30,750	3,238	2014	(A)
Skyline	Fort Collins, CO	E	2,260	12,120	—		689		2,260	12,809	15,069	1,566	2014	(A)
Southern Charm RV Resort	Zephyrhills, FL	E	4,940	17,366	—		1,303		4,940	18,669	23,609	999	2016	(A)
Southern Hills/Northridge Place	Stewartville, MN	E	360	12,723	—		10,709		360	23,432	23,792	2,439	2014	(A&C)
Southern Pines	Bradenton, FL	—	1,710	3,337	—		852		1,710	4,189	5,899	207	2016	(A)
Southfork	Belton, MO	A	1,000	9,011	—		8,003		1,000	17,014	18,014	8,615	1997	(A)
Southport Springs	Zephyrhills, FL	B	15,060	17,229	—		1,999		15,060	19,228	34,288	1,652	2015	(A&C)
Southwood Village	Grand Rapids, MI	—	300	11,517	—		1,878		300	13,395	13,695	3,150	2011	(A)
Spanish Main MH & RV Resort	Thonotasassa, FL	—	2,390	8,159	—		1,496		2,390	9,655	12,045	478	2016	(A)
St. Clair Place	St. Clair, MI	A	501	2,029	—		2,111		501	4,140	4,641	2,127	1998	(A)
Stonebridge ⁽⁵⁾	Richfield Twp., MI	—	2,044	—	246		2,137		2,290	2,137	4,427	—	1998	(C)
Stonebridge ⁽³⁾	San Antonio, TX	C	2,515	2,096	(615	)	6,884		1,900	8,980	10,880	4,761	2000	(A&C)
Stonebrook	Homosassa, FL	B	650	14,063	—		507		650	14,570	15,220	1,238	2015	(A)
Summit Ridge ⁽³⁾	Converse, TX	C	2,615	2,092	(883	)	22,019		1,732	24,111	25,843	7,962	2000	(A&C)
Sun -N-Fun RV Resort ⁽³⁾	Sarasota, FL	D	50,952	117,457	(139	)	2,908		50,813	120,365	171,178	6,967	2016	(A)
Sun Valley	Apache Junction, AZ	D	2,750	18,408	—		1,010		2,750	19,418	22,168	2,318	2014	(A)
Sun Villa Estates ⁽³⁾	Reno, NV	B	2,385	11,773	(1,103	)	1,479		1,282	13,252	14,534	8,078	1998	(A)
Suncoast Gateway	Port Richey, FL	—	594	300	—		916		594	1,216	1,810	239	2016	(A)
Sundance	Zephyrhills, FL	B	890	25,306	—		955		890	26,261	27,151	2,237	2015	(A)
Sunlake Estates	Grand Island, FL	D	6,290	24,084	—		1,181		6,290	25,265	31,555	2,162	2015	(A)
Sunset Beach RV Resort	Cape Charles, VA	—	3,800	24,030	—		—		3,800	24,030	27,830	1,275	2016	(A)
Sunset Harbor at Cow Key Marina	Key West, FL	—	8,570	7,636	—		391		8,570	8,027	16,597	396	2016	(A)
Sunset Lakes RV Resort⁽⁴⁾	Hillsdale, IL	—	1,840	5,995	—		539		1,840	6,534	8,374	119	2017	(A)
Sunset Ridge ⁽³⁾	Portland, MI	C	2,044	—	(9	)	19,492		2,035	19,492	21,527	8,176	1998	(C)
Sunset Ridge	Kyle, TX	C	2,190	2,775	—		6,485		2,190	9,260	11,450	4,730	2000	(A&C)
Swan Meadow Village ⁽³⁾	Dillon, CO	E	2,140	19,734	—		(472	)	2,140	19,262	21,402	2,339	2014	(A)
Sweetwater RV Resort	Zephyrhills, FL	E	1,340	9,113	—		958		1,340	10,071	11,411	538	2016	(A)
Sycamore Village	Mason, MI	—	390	13,341	—		3,871		390	17,212	17,602	4,320	2011	(A)
Tallowwood Isle	Coconut Creek, FL	—	13,796	20,797	—		714		13,796	21,511	35,307	1,075	2016	(A)



			Initial Cost to Company		Costs Capitalized Subsequent to Acquisition (Improvements)		Gross Amount Carried at December 31, 2017
Property Name	Location	Encumbrance	Land	Depreciable Assets	Land	Depreciable Assets	Land	Depreciable Assets	Total	Accumulated Depreciation	Date	Acquired (A) or Constructed (C)
Tamarac Village	Ludington, MI	—	300	12,028	85	3,461	385	15,489	15,874	3,342	2011	(A)
Tampa East	Dover, FL	A	734	6,310	—	4,670	734	10,980	11,714	4,441	2005	(A)
Three Lakes	Hudson, FL	C	5,050	3,361	—	2,401	5,050	5,762	10,812	1,432	2012	(A)
Thunderhill Estates	Sturgeon Bay, WI	E	640	9,008	—	1,326	640	10,334	10,974	1,308	2014	(A)
Timber Ridge	Ft. Collins, CO	B	990	9,231	—	2,915	990	12,146	13,136	7,652	1996	(A)
Timberline Estates	Coopersville, MI	B	535	4,867	—	5,344	535	10,211	10,746	6,095	1994	(A)
Town & Country Mobile Village	Traverse City, MI	A	406	3,736	—	1,726	406	5,462	5,868	3,438	1996	(A)
Town & Country Village	Lisbon, ME	E	230	4,539	—	2,012	230	6,551	6,781	862	2014	(A)
Trailside RV Resort & Campground	Seguin, ON ⁽¹⁾	—	3,690	3,650	46	546	3,736	4,196	7,932	222	2016	(A)
Travelers World RV Resort	San Antonio, TX	—	790	7,952	—	1,399	790	9,351	10,141	514	2016	(A)
Treetops RV Resort	Arlington, TX	—	730	9,831	—	1,107	730	10,938	11,668	583	2016	(A)
Vallecito	Newbury Park, CA	D	25,766	9,814	—	772	25,766	10,586	36,352	517	2016	(A)
The Valley	Apopka, FL	—	2,530	5,660	—	1,029	2,530	6,689	9,219	320	2016	(A)
Verde Plaza	Tucson, AZ	—	710	7,069	—	1,575	710	8,644	9,354	402	2016	(A)
Victor Villa	Victorville, CA	D	2,510	20,408	—	1,362	2,510	21,770	24,280	1,109	2016	(A)
The Villas at Calla Pointe	Cheektowaga, NY	A	380	11,014	—	147	380	11,161	11,541	1,332	2014	(A)
Vines RV Resort	Paso Robles, CA	C	890	7,110	—	1,662	890	8,772	9,662	1,413	2013	(A)
Vista del Lago	Scotts Valley, CA	D	17,830	9,456	—	751	17,830	10,207	28,037	401	2016	(A)
Vista del Lago MH & RV Resort	Bradenton, FL	E	3,630	5,329	—	794	3,630	6,123	9,753	320	2016	(A)
Vizcaya Lakes	Port Charlotte, FL	C	670	4,221	—	510	670	4,731	5,401	371	2015	(A)
Wagon Wheel RV Resort & Campground	Old Orchard Beach, ME	C	590	7,703	—	3,043	590	10,746	11,336	2,257	2013	(A)
Walden Woods	Homosassa, FL	D / B	1,550	26,375	—	1,017	1,550	27,392	28,942	2,320	2015	(A)
Warren Dunes Village	Bridgman, MI	C	310	3,350	—	7,963	310	11,313	11,623	1,463	2011	(A&C)
Water Oak Country Club Estates	Lady Lake, FL	D	2,834	16,706	101	25,472	2,935	42,178	45,113	20,493	1993	(A&C)
Waters Edge RV Resort	Zephyrhills, FL	E	1,180	5,450	—	1,288	1,180	6,738	7,918	350	2016	(A)
Waverly Shores Village	Holland, MI	B	340	7,267	450	3,212	790	10,479	11,269	1,684	2011	(A&C)
West Village Estates	Romulus, MI	B	884	19,765	—	4,604	884	24,369	25,253	4,930	2012	(A)
Westbrook Senior Village	Toledo, OH	B	355	3,295	—	659	355	3,954	4,309	1,983	2001	(A)
Westbrook Village	Toledo, OH	B	1,110	10,462	—	5,103	1,110	15,565	16,675	8,416	1999	(A)



			Initial Cost to Company		Costs Capitalized Subsequent to Acquisition (Improvements)			Gross Amount Carried at December 31, 2017
Property Name	Location	Encumbrance	Land	Depreciable Assets	Land		Depreciable Assets	Land	Depreciable Assets	Total	Accumulated Depreciation	Date	Acquired (A) or Constructed (C)
Westside Ridge	Auburndale, FL	D	760	10,714	—		702	760	11,416	12,176	984	2015	(A)
Westward Ho RV Resort & Campground	Glenbeulah, WI	C	1,050	5,642	—		2,475	1,050	8,117	9,167	1,565	2013	(A)
White Lake Mobile Home Village	White Lake, MI	B	672	6,179	—		10,472	672	16,651	17,323	9,244	1997	(A&C)
Wild Acres RV Resort & Campground	Old Orchard Beach, ME	C	1,640	26,786	—		4,250	1,640	31,036	32,676	6,558	2013	(A)
Wildwood Community	Sandwich, IL	D	1,890	37,732	—		888	1,890	38,620	40,510	4,641	2014	(A)
Willow Lake RV Resort & Campground	Scotland, ON⁽¹⁾	—	1,260	2,275	16		346	1,276	2,621	3,897	125	2016	(A)
Willowbrook Place	Toledo, OH	B	781	7,054	—		4,719	781	11,773	12,554	6,350	1997	(A)
Willowood RV Resort & Campground	Amherstberg, ON⁽¹⁾	—	1,160	1,490	14		295	1,174	1,785	2,959	94	2016	(A)
Windham Hills Estates	Jackson, MI	—	2,673	2,364	—		19,792	2,673	22,156	24,829	10,405	1998	(A&C)
Windmill Village	Davenport, FL	B	7,560	36,294	—		1,371	7,560	37,665	45,225	3,214	2015	(A)
Windsor Woods Village	Wayland, MI	C	270	5,835	—		3,623	270	9,458	9,728	2,704	2011	(A)
Wine Country RV Resort	Paso Robles, CA	C	1,740	11,510	—		3,525	1,740	15,035	16,775	1,987	2014	(A&C)
Woodhaven Place	Woodhaven, MI	B	501	4,541	—		5,411	501	9,952	10,453	4,777	1998	(A)
Woodlake Trails ⁽³⁾	San Antonio, TX	C	1,186	287	(56	)	13,399	1,130	13,686	14,816	4,257	2000	(A&C)
Woodland Lake RV Resort and Campground	Bornholm, ON⁽¹⁾	—	1,650	2,165	21		476	1,671	2,641	4,312	140	2016	(A)
Woodland Park Estates	Eugene, OR	—	1,592	14,398	—		903	1,592	15,301	16,893	9,639	1998	(A)
Woodlands at Church Lake	Groveland, FL	B	2,480	9,072	—		1,160	2,480	10,232	12,712	874	2015	(A)
Woodside Terrace	Holland, OH	B	1,063	9,625	—		8,674	1,063	18,299	19,362	9,602	1997	(A)
			1,098,583	4,294,673	9,255		1,480,368	1,107,838	5,775,041	6,882,879	1,237,525

A These communities collateralize $411.1 million of secured debt.

B These communities collateralize $1.0 billion of secured debt.

C These communities support the borrowing base for our secured line of credit, which had $41.8 million outstanding.

D These communities collateralize $1.0 billion of secured debt.

E These communities collateralize $388.8 million of secured debt.

⁽¹⁾ Gross amount carried at December 31, 2017, at our Canadian properties, reflects the impact of foreign currency translation.

⁽²⁾ All or part of this property is subject to ground lease.

⁽³⁾ Gross amount carried at December 31, 2017 has decreased at this property due to a partial disposition of Land or Depreciable Assets, as applicable.

⁽⁴⁾ This property was acquired during 2017. The purchase price allocations and related values shown in the table above are preliminary and may be adjusted as final costs and valuations are determined.

⁽⁵⁾ This property was not included in our community count as of December 31, 2017 as it was not fully developed (or Corporate Headquarters).

⁽⁶⁾ This property was impaired as a result of Hurricane Irma in September 2017.

The change in investment property for the years ended December 31, 2017, 2016, and 2015 is as follows:



	Years Ended December 31,
	2017			2016			2015
Beginning balance	$	6,496,339		$	4,573,522		$	3,363,917
Community and land acquisitions, including immediate improvements	204,375			1,822,564			1,214,482
Community expansion and development	88,331			47,958			28,660
Improvements, other	168,315			113,803			195,439
Asset impairment	(10,511		)	—			—
Dispositions and other	(63,970		)	(61,508		)	(228,976		)
Ending balance	$	6,882,879		$	6,496,339		$	4,573,522

The change in accumulated depreciation for the years ended December 31, 2017, 2016, and 2015 is as follows:



	Years Ended December 31,
	2017			2016			2015
Beginning balance	$	1,026,858		$	852,407		$	795,753
Depreciation for the period	236,422			201,157			159,706
Asset impairment	(405		)	—			—
Dispositions and other	(25,350		)	(26,706		)	(103,052		)
Ending balance	$	1,237,525		$	1,026,858		$	852,407