Equity LifeStyle To Raise $344M

Equity LifeStyle Properties is looking to issue 5,250,000 new shares of common stock.

Equity LifeStyle Properties is looking to issue 5,250,000 new shares of common stock. The real estate company is likely to raise $343.9 million if the underwriters’ option to purchase additional shares is fully exercised.

The proceeds will be used to pay for the acquisition of a portfolio located in Florida and the northeastern region of U.S. and certain other assets. Goldman Sachs, BofA Merrill Lynch, Morgan Stanley, RBC Capital Markets and Wells Fargo Securities will be the book-runners for the offering.

Click here for the release from Equity LifeStyle Properties.