Equity LifeStyle Properties, Inc. (ELS) is a real estate investment trust (REIT) that specializes in the ownership and operation of manufactured home communities, RV resorts, and campgrounds. The company was founded in 1992 and is headquartered in Chicago, Illinois. As of December 31, 2021, ELS owns or has an interest in 432 properties in 33 states and British Columbia consisting of 161,901 sites.
ELS owns and operates properties that offer a range of lifestyle options for residents, including age-restricted communities, all-age communities, and resort-style properties. The company's properties typically offer amenities such as swimming pools, clubhouses, fitness centers, and planned social activities. ELS also owns RV resorts and campgrounds that offer recreational activities such as hiking, fishing, and boating.
The company generates revenue through a combination of rental income, membership fees, and ancillary services such as the sale of homes and RVs. ELS typically leases sites to residents who own their own homes or RVs, and the company also owns a portfolio of rental homes that it leases to residents. ELS also offers financing to residents who are purchasing homes or RVs in its communities.
ELS has a long-term growth strategy focused on acquiring high-quality properties in attractive markets and expanding its portfolio through development and redevelopment. The company has a disciplined approach to capital allocation and seeks to maintain a strong balance sheet with low leverage and ample liquidity. ELS has a long track record of consistent growth and has delivered strong returns to shareholders over the long term.
In addition to its core business of owning and operating manufactured home communities, RV resorts, and campgrounds, ELS is also committed to sustainability and reducing its environmental footprint. The company has implemented a number of initiatives to reduce energy and water consumption, increase recycling, and promote sustainable practices among its residents and employees. ELS has also been recognized for its efforts in this area, including being named a 2021 ENERGY STAR Partner of the Year by the U.S. Environmental Protection Agency.