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Investment in Real Estate
9 Months Ended
Sep. 30, 2022
Business Combination and Asset Acquisition [Abstract]  
Investment in Real Estate Investment in Real Estate
Acquisitions
2022
On February 18, 2022, we completed the acquisition of Blue Mesa Recreational Ranch, a 385-site membership RV community located in Gunnison, Colorado, and Pilot Knob RV Resort a 247-site RV community located in Winterhaven, California for a combined purchase price of $15.9 million. The acquisition was funded with available cash.
On June 1, 2022, we completed the acquisition of a nine acre vacant land parcel in Sarasota, Florida, adjacent to one of our properties, for a purchase price of $2.3 million. The acquisition was funded with available cash.
On June 15, 2022, we completed the acquisition of Holiday Trav-L-Park Resort, a 299-site oceanfront RV community located in Emerald Isle, North Carolina for a purchase price of $50.7 million. The acquisition was funded with available cash and debt financing from the unsecured line of credit.
On June 16, 2022, we completed the acquisition of Oceanside RV Resort, a 139-site RV community located in Oceanside, California for a total purchase price of $44.4 million. The acquisition was funded with available cash and debt financing from the unsecured line of credit.
On July 21, 2022, we completed the acquisition of an 83-acre vacant land parcel in North Fort Myers, Florida, adjacent to one of our properties, for a purchase price of $6.4 million. The acquisition was funded with available cash.
On August 9, 2022, we completed the acquisition of a 78-acre vacant land parcel in Beecher, Illinois, adjacent to one of our properties, for a purchase price of $0.9 million. The acquisition was funded with available cash.
Impairment
Hurricane Ian made landfall on the west coast of Florida on September 28, 2022. The most significant damage to our properties occurred in or near the Fort Myers area. Six of our Properties in or near this market are temporarily closed. As a result of the storm event and the damage caused, we wrote down the carrying value of certain assets at these properties by approximately $3.7 million during the quarter and nine months ended September 30, 2022, which is included in Loss on sale of real estate and impairment, net in the Consolidated Statements of Income.