Equity LifeStyle Properties, Inc. (NYSE: ELS) (referred to herein as “we,” “us,” and “our”) announces the acquisition of Fiesta Key RV Resort, a premier 324-site RV resort and marina in the Florida Keys. With expansive views of the Gulf of Mexico, Fiesta Key RV Resort offers customers an outstanding RV destination and enhances our presence in this attractive destination market. The purchase price for the property was approximately $24.6 million and was funded with available cash.
This press release includes certain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. When used, words such as “anticipate,” “expect,” “believe,” “project,” “intend,” “may be” and “will be” and similar words or phrases, or the negative thereof, unless the context requires otherwise, are intended to identify forward-looking statements and may include, without limitation, information regarding our expectations, goals or intentions regarding the future, and the expected effect of our recent acquisitions. These forward-looking statements are subject to numerous assumptions, risks and uncertainties, including, but not limited to:
• our ability to control costs, real estate market conditions, the actual rate of decline in customers, the actual use of sites by customers and our success in acquiring new customers at our properties (including those that we may acquire);
• our ability to maintain historical rental rates and occupancy with respect to properties currently owned or that we may acquire;• our ability to retain and attract customers renewing, upgrading and entering right-to-use contracts; • our assumptions about rental and home sales markets; • our assumptions and guidance concerning 2013 estimated net income, FFO and Normalized FFO; • our ability to manage counterparty risk; • in the age-qualified properties, home sales results could be impacted by the ability of potential homebuyers to sell their existing residences as well as by financial, credit and capital markets volatility;