trending Market Intelligence /marketintelligence/en/news-insights/trending/w6gwGSexIQII-VQ0-rWhKw2 content esgSubNav
In This List

Equity LifeStyle affiliate buys Fla. mobile home park

Blog

Japan M&A By the Numbers: Q4 2023

Case Study

An Investment Bank Taps S&P's Real Estate Modeling Expertise

Blog

FIMA EUROPE 2023: Exploring the Intersection of Data, Governance, and Future Trends in Finance

Podcast

Private Markets 360° | Episode 8: Powering the Global Private Markets (with Adam Kansler of S&P Global Market Intelligence)


Equity LifeStyle affiliate buys Fla. mobile home park

Equity LifeStyle Properties Inc.'s MHC Palm Lake LLC affiliate acquired the Palm Lake Mobile Home Park in West Palm Beach, Fla.

In a news release, the company said it paid $73.5 million for the 915-site community, funding the transaction with available cash and proceeds from debt financing transactions completed in the 2018 fourth quarter.

MHC Palm Lake signed a 20-year contract to uphold the 55-plus age restriction on the 50-acre property, and Equity LifeStyle intends to spend $3 million over the next three years to upgrade the community's common areas and infrastructure, The Real Deal reported, citing property records.

The Real Deal originally reported the sale price as about $49.0 million, but Equity LifeStyle President and CEO Marguerite Nader said in a Jan. 29, 2019, earnings call that the figure was incorrect.