Equity LifeStyle Properties is acquiring a portfolio of 76 manufactured home communities, located mainly in Florida and the northeastern U.S. from Hometown America.
Equity LifeStyle Properties (ELS) is acquiring a portfolio of 76 manufactured home communities, located mainly in Florida and the northeastern U.S. from Hometown America. The lifestyle oriented properties owner and operator will pay a total of about $1.43 billion for the acquisition.
The transaction will be funded through a stock offering, the assumption of $524.3 million of mortgage debt, the issuance of equity to the seller and about $500 million of debt that Equity LifeStyle seeks to obtain after the share sale is completed. Goldman Sachs is the company’s financial adviser on the deal.
