Friday, August 15, 2008

Equity LifeStyle Completes Acquisition of Privileged Access

August 2008 --Equity LifeStyle Properties, Inc. announced the acquisition of substantially all of the assets and certain liabilities of Privileged Access, LP for a note payable of $2.0 million. Privileged Access is an RV and vacation membership business with approximately 130,000 members, which leased approximately 24,300 sites at 82 of the Company’s properties. The $2.0 million unsecured note payable matures on August 14, 2010 and accrues interest at 10 percent per annum.
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