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Exhibit 23.1
Consent of Independent Auditors
We consent to the reference to our firm under the caption "Experts" in the
Registration Statement (Form S-4) and related Prospectus of Asset Investors
Corporation for the registration of 4,224,972 shares of its common stock and to
the incorporation by reference therein of our reports (i) dated January 21,
2000, with respect to the consolidated financial statements and schedules of
Asset Investors Corporation included in its Annual Report (Form 10-K) for the
year ended December 31, 1999; (ii) dated January 21, 2000, with respect to the
consolidated financial statements and schedules of Commercial Assets, Inc.
included in its Annual Report (Form 10-K) for the year ended December 31, 1999;
and (iii) dated December 24, 1999, with respect to the combined statement of
excess of revenues over specific operating expenses for the year ended December
31, 1998 of Community Acquisition and Development Corporation Manufactured Home
Communities included in Amendment No. 1 to Asset Investors Corporations' Current
Report on Form 8-K dated January 31, 2000; all filed with the Securities and
Exchange Commission.
We also consent to the filing of our opinion regarding tax matters with the
Commission as an exhibit to Asset Investors Corporation Registration Statement.
/s/ Ernst & Young LLP
Denver, Colorado
June 5, 2000
