Wednesday, February 18, 2009

Equity Lifestyle Properties Doing Fine

Medill Reports - Chicago,IL,USA
Equity Lifestyle Properties Inc. is parked between two troubled industries—struggling manufactured-home makers and the slowest real estate market in decades.

And yet, the Chicago real estate investment trust, the biggest operator of manufactured home communities and RV resorts in North America, is keeping its units filled, residents happy and analysts optimistic.

Last year, the economic crisis led to rising operating costs and falling values for Equity Lifestyle’s 25,000 acres of property. The company—a spinoff of real estate magnate Sam Zell’s Equity Group Investments LLC (Zell still serves as board chairman)—adapted quickly.
Full Story...
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