Equity Lifestyle Properties Rebounds

Net income for this provider of manufactured homes and RV’s jumped nearly 13 percent to $38.4 million over 2009 despite the economic downturn. According to Medill Reports, this Chicago-based real estate investment trust (REIT), which has a controlling interest in over 300 North American resorts comprising more than 10,000 home sites, sold only 82 new homes in 2010, but their used home sales of 795 in 2010 nearly doubled the 407 sales of 2008. Despite a 2.4 percent increase in rent for 2010, occupancy for the fourth quarter was 90.4 percent, up 40 basis points from the same period 2009.
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