Equity LifeStyle Properties, Inc. acquired remaining 50% stake in Voyager RV Resort & Hotel from joint venture partner.
October 19, 2021
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Equity LifeStyle Properties, Inc. (NYSE:ELS) acquired remaining 50% stake in Voyager RV Resort & Hotel from joint venture partner on October 14, 2021. The purchase price to acquire our partner’s interest consisted of debt assumption of $20.1 million and $35.2 million payment primarily comprised of Operating Partnership units and the remainder in cash. Equity LifeStyle joint venture partner’s 50% interest in Voyager RV Resort. Upon closing the acquisition, Equity LifeStyle became the resort’s sole owner.
Equity LifeStyle Properties, Inc. (NYSE:ELS) completed the acquisition of remaining 50% stake in Voyager RV Resort & Hotel from joint venture partner on October 14, 2021.
Equity LifeStyle Properties, Inc. is a self-administered and self-managed real estate investment trust (REIT). The Company owns a lifestyle-oriented properties consisting of property operations and home sales and rental operations within manufactured home (MH) and recreational vehicle (RV) communities and marinas. It operates through two segments: Property Operations and Home Sales and Rentals Operations. The Property Operations segment owns and operates land lease properties and the Home Sales. The Home Sales and Rentals Operations segment purchases, sells and leases homes at the Properties. The Company owns interest in a portfolio of approximately 451 properties located throughout the United States and Canada containing approximately 172,465 individual developed areas. These properties are located in 35 states and British Columbia, with approximately 110 properties with lake, river or ocean frontage and approximately 120 properties within 10 miles of the coastal United States.