County records reflect that Equity LifeStyle Properties (ELS) has purchased 25 acres in Ellenton, next to Ridgewood Estates – a 55+ manufactured home community (MHC) – for $2 million. Equity LifeStyle paid $11.56 million for Ridgewood in 2011, says the Sarasota, FL Herald-Tribune.
As MH Community-sector focused professionals know, Equity LifeStyle Properties is a Real Estate Investment Trust (REIT), traded on the New York Stock Exchange under the symbol “ELS,” and is one of the tracked stocks covered by the Daily Business News market report.
ELS stock stood as shown below at the close yesterday, and their stock price has been hovering below its trading peak for the past 52 weeks.
The firm reports that they have 370 communities and resorts with nearly 140,000 sites, and is one of the largest community operators in the U.S.
The Herald-Tribune states that ELS has a total of 10 land-lease communities (quoting, “mobile home (sic) communities”) in the Sarasota-Manatee area, with about 99 total properties throughout Florida.
For a prior report on ELS, please click here. ##
(Image credits as shown)
Submitted by L. A. “Tony” Kovach to the Daily Business News, MHProNews.
