ELS Announces Closings on Seven Properties up to $1.7B

On May 31, 2011, Equity LifeStyle Properties, Inc.

, through its operating partnership, entered into purchase and other agreements to acquire a portfolio of 75 manufactured home communities and one RV resort (the “Acquisition Properties”) containing 31,167 sites on approximately 6,500 acres located in 16 states (primarily located in Florida and the northeastern region of the United States) and certain manufactured homes and loans secured by manufactured homes located at the Acquisition Properties for a stated purchase price of $1.43 billion. The Company closed on seven of the Acquisition Properties today along with certain manufactured homes and loans secured by manufactured homes located at such Acquisition Properties for a stated purchase price of approximately $99 million. The purchase price in connection with this closing was funded with: the assumption of approximately $55 million of mortgage debt secured by the Acquisition Properties acquired today and approximately $44 million of cash. The cash was obtained from the proceeds of the previously announced $200 million of financings originated during the quarter ended September 30, 2011.