Inland Land Appreciation Fund, L.P. Reports Second Quarter Results

August 2, 2010

Inland Land Appreciation Fund, L.P. (Grey Market: ZZART – $265.00*) increased revenues for the second quarter ended June 30, 2010 to $51,613 from $37,962 for the same period in 2009. Earning reversed to a net loss of $37,350 or ($1.25) per unit in the second quarter of 2010 compared to net income of $5,933 or $0.20 per unit for the same period in 2009.

The second quarter loss in 2010 was primarily attributable to an approximately $56,000 fee paid to the Yorkville Business Center. This obligation was secured by a performance bond guaranteed by the Partnership, which has now been fully released.

The Partnership owns approximately 1004 acres of land, of which, approximately 919 acres had farm leases with generally one year terms. There have not been any property sales in 2010.

Inland Land Appreciation Fund, L.P. is a real estate investment and management partnership formed in October 1987 to invest in undeveloped land on an all-cash basis and realize appreciation of such land upon resale.

*Price per share at the time the article was published or the price of the last trade.

Disclosure: The author does not hold a any position in ZZART at the time of this article.

Print Friendly

Previous post:

Next post: