this may represent an attractive source of occupancy if the company can convert renters to new homebuyers in the future . the company is also focusing on smaller , more energy efficient and more affordable homes in its manufactured home properties . the company 's manufactured home rental operations have been increasing since 2007. for the year ended december 31 , 2011 , occupied manufactured home rentals increased to 4,423 , or 387.7 % , from 907 for the year ended december 31 , 2007. net operating income increased to approximately $ 23.1 million in 2011 from approximately $ 5.9 million in 2007. the company believes that unlike the home sales business , at this time the company competes effectively with other types of rentals ( i.e . apartments ) . the company is currently evaluating whether it wants to continue to invest in additional rental units . in the company 's resort properties , the company continues to work on extending customer stays . the company has had success lengthening customer stays . the company has introduced low-cost membership products that focus on the installed base of almost eight million rv owners . such products may include right-to-use contracts that entitle the customer to use certain properties ( the agreements ) . the company is offering a zone park pass ( zpp ) , which can be purchased for one to four zones of the united states and requires annual payments of $ 499. this replaces high cost products that were sold at properties after tours and lengthy sales presentations . the company historically incurred significant costs to generate leads , conduct tours and make the sales presentations . a single zone pass requires no upfront payment while passes for additional zones require modest upfront payments . for the year ended december 31 , 2011 , the company sold approximately 7,500 zpp 's . existing customers may be offered an upgrade agreement from time-to-time . the upgrade agreement is currently distinguishable from a new agreement that a customer would enter into by ( 1 ) increased length of consecutive stay by 50 % ( i.e . up to 21 days ) ; ( 2 ) ability to make earlier advance reservations ; ( 3 ) discounts on rental units and ( 4 ) access to additional properties , which may include discounts at non-membership rv properties . each upgrade requires a nonrefundable upfront payment . the company may finance the nonrefundable upfront payment under any agreement . 34 property acquisitions , joint ventures and dispositions the following chart lists the properties or portfolios acquired , invested in , or sold since january 1 , 2010 : replace_table_token_14_th since january 1 , 2010 the gross investment in real estate increased from $ 2,538 million to $ 4,079 million as of december 31 , 2011 , due primarily to the aforementioned acquisitions and dispositions of properties during the period . markets the following table identifies the company 's largest markets by number of sites and provides information regarding the company 's properties ( excluding five properties owned through joint ventures ) . replace_table_token_15_th ( 1 ) property operating revenues for this calculation excludes approximately $ 19.1 million of property operating revenue not allocated to properties , which consists primarily of upfront payments from right-to-use contracts . 35 2011 acquisition disclosure on may 31 , 2011 , the company 's operating partnership entered into purchase and other agreements ( the purchase agreements ) to acquire a portfolio of 75 manufactured home communities and one rv resort ( the acquisition properties ) containing 31,167 sites on approximately 6,500 acres located in 16 states ( primarily located in florida and the northeastern region of the united states ) and certain manufactured homes and loans secured by manufactured homes located at the acquisition properties which the company refers to as the home related assets and collectively with the acquisition properties , as the acquisition portfolio ,  for a stated purchase price of $ 1.43 billion ( the acquisition ) . the company completed the acquisition of 75 acquisition properties , containing 30,129 sites , during the six months ended december 31 , 2011. total transaction costs associated with the acquisition for the year ended december 31 , 2011 were approximately $ 18.5 million . the purchase price of the acquisition was funded primarily through : the net proceeds of approximately $ 344.0 million from the company 's june 2011 public offering of 6,037,500 shares of common stock ; the assumption by the company of fixed-rate , non-recourse mortgage indebtedness secured by 35 of the acquisition properties of approximately $ 515.0 million , with stated interest rates ranging from 4.65 % to 8.87 % per annum and maturity dates ranging from 2012 to 2023 ; the company 's issuance to the seller of : ( i ) 1,708,276 shares of the company 's common stock , and ( ii ) 1,740,000 shares of series b preferred stock which in the purchase agreements have a stipulated aggregate value of $ 200.0 million ; $ 200.0 million of mortgage notes payable through two 10-year secured financings the company entered into during the three months ended september 30 , 2011 with a weighted average interest rate of approximately 5.02 % per annum ( see note 8 in the notes to the consolidated financial statements contained in this form 10-k for a description of the mortgage notes payable . ) story_separator_special_tag the provisions of asu 2011-08 are effective for reporting periods beginning after december 15 , 2011. the adoption of this update did not have an impact on the company 's consolidated financial statements as the company has chosen not to adopt this guidance early . 40 results of operations comparison of year ended december 31 , 2011 to year ended december 31 , 2010 the following table summarizes certain financial and statistical data for the property operations for all properties owned and operated for the same period in both years ( core portfolio ) and the total portfolio for the years ended december 31 , 2011 and 2010 ( amounts in thousands ) . the core portfolio may change from time-to-time depending on acquisitions , dispositions and significant transactions or unique situations . the core portfolio in this comparison of the year ended december 31 , 2011 to december 31 , 2010 includes all properties acquired on or prior to december 31 , 2009 and which were owned and operated by the company during the years ended december 31 , 2011 and december 31 , 2010. growth percentages exclude the impact of gaap deferrals of up-front payments from right-to-use contracts entered and related commissions . replace_table_token_16_th property operating revenues the 1.3 % increase in the core portfolio property operating revenues primarily reflects ( i ) a 2.2 % increase in rates in community base rental income and a 0.6 % increase in occupancy ( ii ) a 0.6 % increase in revenues in core resort base income , as described in the table below and ( iii ) a decrease of 8.4 % in right-to-use contracts . the reduction in entry of right-to-use contracts is due to the company 's introduction of low-cost membership products in 2010 and the phase-out of memberships with higher initial upfront payments . resort base rental income is comprised of the following ( amounts in thousands ) : replace_table_token_17_th 41 property operating expenses the 0.3 % decrease in property operating expenses in the core portfolio reflects ( i ) a 0.4 % increase in property operating and maintenance expenses and ( ii ) and a 11.0 % decrease in sales and marketing expenses . sales and marketing expenses are all related to the costs incurred for the entry or upgrade of right-to-use contracts . the decrease in sales and marketing expenses is due to reduced commissions as a result of reduced high-cost right-to-use contracts activity . the increase in total portfolio income from property operations is primarily due to the acquisition of 75 acquisition properties during the year ended december 31 , 2011 . ( see note 19 in the notes to the consolidated financial statements contained in this form 10-k for details regarding these closings . ) home sales operations the following table summarizes certain financial and statistical data for the home sales operations for the years ended december 31 , 2011 and 2010 ( amounts in thousands , except sales volumes ) . replace_table_token_18_th ( 1 ) includes third party home sales of three and 19 for the years ended december 31 , 2011 and 2010 , respectively . ( 2 ) includes third party home sales of one and 10 for the years ended december 31 , 2011 and 2010 , respectively . income from home sales operations decreased primarily as a result of decreased profit on used home sales and a decrease in ancillary revenues . 42 rental operations the following table summarizes certain financial and statistical data for manufactured home rental operations for the years ended december 31 , 2011 and 2010 ( dollars in thousands ) . the amounts below are included in ancillary services revenue , net , in the home sales operations table in the previous section , unless otherwise noted . replace_table_token_19_th ( 1 ) approximately $ 23.9 million and $ 15.4 million as of december 31 , 2011 and 2010 , respectively , are included in community base rental income in the property operations table . the increase in income from rental operations and depreciation expense is primarily due to the increase in the number of rental units resulting from the acquisition of 75 acquisition properties during the year ended december 31 , 2011. in the ordinary course of business , the company acquires used homes from customers through purchase , lien , sale or abandonment . in a vibrant new home sale market older homes may be removed from sites and replaced with new homes . in other cases , due to the nature of tenancy rights afforded to purchasers , used homes are rented in order to control the site either in the condition received or after warranted rehabilitation . other income and expenses the following table summarizes other income and expenses for the years ended december 31 , 2011 and 2010 ( amounts in thousands ) . replace_table_token_20_th 43 depreciation on real estate and other costs , amortization of in-place leases , interest income and interest expense increased primarily due to the purchase of 75 acquisition properties during the year ended december 31 , 2011. transaction costs consist primarily of the following costs incurred related to the acquisition : seller 's debt defeasance costs , transfer tax , professional fees , and costs related to due diligence items such as title , survey , zoning and environmental . impairment decreased due to a non-cash write-off of $ 3.6 million in the year ended december 31 , 2010 of goodwill associated with a 2009 acquisition of a florida internet and media based advertising business . comparison of year ended december 31 , 2010 to year ended december 31 , 2009 the following table summarizes certain financial and statistical data for the property operations for all properties owned and operated for the same period in both years ( core portfolio ) and the total portfolio for the years ended december 31 , 2010 and 2009 ( amounts in thousands ) . the core portfolio

liquidity and capital resources liquidity as of december 31 , 2011 the company had $ 70.5 million in cash and cash equivalents and $ 380.0 million available on its line of credit . the company expects to meet its short-term liquidity requirements , including its distributions , generally through its working capital , net cash provided by operating activities and availability under its existing line of credit . the company expects to meet certain long-term liquidity requirements such as scheduled debt maturities , property acquisitions and capital improvements by use of its current cash balance , long-term collateralized and uncollateralized borrowings including borrowings under its existing line of credit and the issuance of debt securities or additional equity securities in the company , in addition to net cash provided by operating activities . the company has approximately $ 34.6 million of scheduled debt maturities in 2012 ( excluding scheduled principal payments on debt maturing in 2012 and beyond ) . the company expects to satisfy its 2012 maturities with its existing cash balance . the table below summarizes cash flow activity for the years ended december 31 , 2011 , 2010 , and 2009 ( amounts in thousands ) . replace_table_token_26_th operating activities net cash provided by operating activities increased $ 10.8 million for the year ended december 31 , 2011 from $ 163.3 million for the year ended december 31 , 2010. the increase in 2011 was primarily due an increase in net income net of depreciation expense and amortization of in-place leases . net cash provided by operating activities increased $ 12.8 million for the year ended december 31 , 2010 from $ 150.5 million for the year ended december 31 , 2009. the increase in 2010 was primarily due to a $ 9.2 million increase in consolidated income from continuing operations and an increase in rents received in advance . investing activities net cash used in investing activities reflects the impact of the following investing activities : acquisitions 2011 acquisitions during the year ended december 31 , 2011 , the company closed on 75 of the acquisition properties and certain home related assets associated with such 75 acquisition properties for a purchase price of 47 approximately $ 1.5 billion .


 Write a concise suspicious activity report of the following text delimited by triple backquotes. Return your response as a formal report which covers the key points highlighting the location,dates,entity names and account holder information in chronological order of the text.
     ```liquidity and capital resources liquidity as of december 31 , 2011 the company had $ 70.5 million in cash and cash equivalents and $ 380.0 million available on its line of credit . the company expects to meet its short-term liquidity requirements , including its distributions , generally through its working capital , net cash provided by operating activities and availability under its existing line of credit . the company expects to meet certain long-term liquidity requirements such as scheduled debt maturities , property acquisitions and capital improvements by use of its current cash balance , long-term collateralized and uncollateralized borrowings including borrowings under its existing line of credit and the issuance of debt securities or additional equity securities in the company , in addition to net cash provided by operating activities . the company has approximately $ 34.6 million of scheduled debt maturities in 2012 ( excluding scheduled principal payments on debt maturing in 2012 and beyond ) . the company expects to satisfy its 2012 maturities with its existing cash balance . the table below summarizes cash flow activity for the years ended december 31 , 2011 , 2010 , and 2009 ( amounts in thousands ) . replace_table_token_26_th operating activities net cash provided by operating activities increased $ 10.8 million for the year ended december 31 , 2011 from $ 163.3 million for the year ended december 31 , 2010. the increase in 2011 was primarily due an increase in net income net of depreciation expense and amortization of in-place leases . net cash provided by operating activities increased $ 12.8 million for the year ended december 31 , 2010 from $ 150.5 million for the year ended december 31 , 2009. the increase in 2010 was primarily due to a $ 9.2 million increase in consolidated income from continuing operations and an increase in rents received in advance . investing activities net cash used in investing activities reflects the impact of the following investing activities : acquisitions 2011 acquisitions during the year ended december 31 , 2011 , the company closed on 75 of the acquisition properties and certain home related assets associated with such 75 acquisition properties for a purchase price of 47 approximately $ 1.5 billion .
```    
 Suspicious Activity Report : this may represent an attractive source of occupancy if the company can convert renters to new homebuyers in the future . the company is also focusing on smaller , more energy efficient and more affordable homes in its manufactured home properties . the company 's manufactured home rental operations have been increasing since 2007. for the year ended december 31 , 2011 , occupied manufactured home rentals increased to 4,423 , or 387.7 % , from 907 for the year ended december 31 , 2007. net operating income increased to approximately $ 23.1 million in 2011 from approximately $ 5.9 million in 2007. the company believes that unlike the home sales business , at this time the company competes effectively with other types of rentals ( i.e . apartments ) . the company is currently evaluating whether it wants to continue to invest in additional rental units . in the company 's resort properties , the company continues to work on extending customer stays . the company has had success lengthening customer stays . the company has introduced low-cost membership products that focus on the installed base of almost eight million rv owners . such products may include right-to-use contracts that entitle the customer to use certain properties ( the agreements ) . the company is offering a zone park pass ( zpp ) , which can be purchased for one to four zones of the united states and requires annual payments of $ 499. this replaces high cost products that were sold at properties after tours and lengthy sales presentations . the company historically incurred significant costs to generate leads , conduct tours and make the sales presentations . a single zone pass requires no upfront payment while passes for additional zones require modest upfront payments . for the year ended december 31 , 2011 , the company sold approximately 7,500 zpp 's . existing customers may be offered an upgrade agreement from time-to-time . the upgrade agreement is currently distinguishable from a new agreement that a customer would enter into by ( 1 ) increased length of consecutive stay by 50 % ( i.e . up to 21 days ) ; ( 2 ) ability to make earlier advance reservations ; ( 3 ) discounts on rental units and ( 4 ) access to additional properties , which may include discounts at non-membership rv properties . each upgrade requires a nonrefundable upfront payment . the company may finance the nonrefundable upfront payment under any agreement . 34 property acquisitions , joint ventures and dispositions the following chart lists the properties or portfolios acquired , invested in , or sold since january 1 , 2010 : replace_table_token_14_th since january 1 , 2010 the gross investment in real estate increased from $ 2,538 million to $ 4,079 million as of december 31 , 2011 , due primarily to the aforementioned acquisitions and dispositions of properties during the period . markets the following table identifies the company 's largest markets by number of sites and provides information regarding the company 's properties ( excluding five properties owned through joint ventures ) . replace_table_token_15_th ( 1 ) property operating revenues for this calculation excludes approximately $ 19.1 million of property operating revenue not allocated to properties , which consists primarily of upfront payments from right-to-use contracts . 35 2011 acquisition disclosure on may 31 , 2011 , the company 's operating partnership entered into purchase and other agreements ( the purchase agreements ) to acquire a portfolio of 75 manufactured home communities and one rv resort ( the acquisition properties ) containing 31,167 sites on approximately 6,500 acres located in 16 states ( primarily located in florida and the northeastern region of the united states ) and certain manufactured homes and loans secured by manufactured homes located at the acquisition properties which the company refers to as the home related assets and collectively with the acquisition properties , as the acquisition portfolio ,  for a stated purchase price of $ 1.43 billion ( the acquisition ) . the company completed the acquisition of 75 acquisition properties , containing 30,129 sites , during the six months ended december 31 , 2011. total transaction costs associated with the acquisition for the year ended december 31 , 2011 were approximately $ 18.5 million . the purchase price of the acquisition was funded primarily through : the net proceeds of approximately $ 344.0 million from the company 's june 2011 public offering of 6,037,500 shares of common stock ; the assumption by the company of fixed-rate , non-recourse mortgage indebtedness secured by 35 of the acquisition properties of approximately $ 515.0 million , with stated interest rates ranging from 4.65 % to 8.87 % per annum and maturity dates ranging from 2012 to 2023 ; the company 's issuance to the seller of : ( i ) 1,708,276 shares of the company 's common stock , and ( ii ) 1,740,000 shares of series b preferred stock which in the purchase agreements have a stipulated aggregate value of $ 200.0 million ; $ 200.0 million of mortgage notes payable through two 10-year secured financings the company entered into during the three months ended september 30 , 2011 with a weighted average interest rate of approximately 5.02 % per annum ( see note 8 in the notes to the consolidated financial statements contained in this form 10-k for a description of the mortgage notes payable . ) story_separator_special_tag the provisions of asu 2011-08 are effective for reporting periods beginning after december 15 , 2011. the adoption of this update did not have an impact on the company 's consolidated financial statements as the company has chosen not to adopt this guidance early . 40 results of operations comparison of year ended december 31 , 2011 to year ended december 31 , 2010 the following table summarizes certain financial and statistical data for the property operations for all properties owned and operated for the same period in both years ( core portfolio ) and the total portfolio for the years ended december 31 , 2011 and 2010 ( amounts in thousands ) . the core portfolio may change from time-to-time depending on acquisitions , dispositions and significant transactions or unique situations . the core portfolio in this comparison of the year ended december 31 , 2011 to december 31 , 2010 includes all properties acquired on or prior to december 31 , 2009 and which were owned and operated by the company during the years ended december 31 , 2011 and december 31 , 2010. growth percentages exclude the impact of gaap deferrals of up-front payments from right-to-use contracts entered and related commissions . replace_table_token_16_th property operating revenues the 1.3 % increase in the core portfolio property operating revenues primarily reflects ( i ) a 2.2 % increase in rates in community base rental income and a 0.6 % increase in occupancy ( ii ) a 0.6 % increase in revenues in core resort base income , as described in the table below and ( iii ) a decrease of 8.4 % in right-to-use contracts . the reduction in entry of right-to-use contracts is due to the company 's introduction of low-cost membership products in 2010 and the phase-out of memberships with higher initial upfront payments . resort base rental income is comprised of the following ( amounts in thousands ) : replace_table_token_17_th 41 property operating expenses the 0.3 % decrease in property operating expenses in the core portfolio reflects ( i ) a 0.4 % increase in property operating and maintenance expenses and ( ii ) and a 11.0 % decrease in sales and marketing expenses . sales and marketing expenses are all related to the costs incurred for the entry or upgrade of right-to-use contracts . the decrease in sales and marketing expenses is due to reduced commissions as a result of reduced high-cost right-to-use contracts activity . the increase in total portfolio income from property operations is primarily due to the acquisition of 75 acquisition properties during the year ended december 31 , 2011 . ( see note 19 in the notes to the consolidated financial statements contained in this form 10-k for details regarding these closings . ) home sales operations the following table summarizes certain financial and statistical data for the home sales operations for the years ended december 31 , 2011 and 2010 ( amounts in thousands , except sales volumes ) . replace_table_token_18_th ( 1 ) includes third party home sales of three and 19 for the years ended december 31 , 2011 and 2010 , respectively . ( 2 ) includes third party home sales of one and 10 for the years ended december 31 , 2011 and 2010 , respectively . income from home sales operations decreased primarily as a result of decreased profit on used home sales and a decrease in ancillary revenues . 42 rental operations the following table summarizes certain financial and statistical data for manufactured home rental operations for the years ended december 31 , 2011 and 2010 ( dollars in thousands ) . the amounts below are included in ancillary services revenue , net , in the home sales operations table in the previous section , unless otherwise noted . replace_table_token_19_th ( 1 ) approximately $ 23.9 million and $ 15.4 million as of december 31 , 2011 and 2010 , respectively , are included in community base rental income in the property operations table . the increase in income from rental operations and depreciation expense is primarily due to the increase in the number of rental units resulting from the acquisition of 75 acquisition properties during the year ended december 31 , 2011. in the ordinary course of business , the company acquires used homes from customers through purchase , lien , sale or abandonment . in a vibrant new home sale market older homes may be removed from sites and replaced with new homes . in other cases , due to the nature of tenancy rights afforded to purchasers , used homes are rented in order to control the site either in the condition received or after warranted rehabilitation . other income and expenses the following table summarizes other income and expenses for the years ended december 31 , 2011 and 2010 ( amounts in thousands ) . replace_table_token_20_th 43 depreciation on real estate and other costs , amortization of in-place leases , interest income and interest expense increased primarily due to the purchase of 75 acquisition properties during the year ended december 31 , 2011. transaction costs consist primarily of the following costs incurred related to the acquisition : seller 's debt defeasance costs , transfer tax , professional fees , and costs related to due diligence items such as title , survey , zoning and environmental . impairment decreased due to a non-cash write-off of $ 3.6 million in the year ended december 31 , 2010 of goodwill associated with a 2009 acquisition of a florida internet and media based advertising business . comparison of year ended december 31 , 2010 to year ended december 31 , 2009 the following table summarizes certain financial and statistical data for the property operations for all properties owned and operated for the same period in both years ( core portfolio ) and the total portfolio for the years ended december 31 , 2010 and 2009 ( amounts in thousands ) . the core portfolio

