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Manufactured Home Communities Inc. (MHC), a self-managed, real estate investment trust (REIT) headquartered in Chicago, announced it is changing its name to Equity Lifestyle Properties Inc.
“The name change more appropriately describes the business we are in, the opportunities inherent in our business, and the leadership of our chairman,” said CEO and President Thomas P. Heneghan.
According to a press release, the New York Stock Exchange-listed company anticipates its new ticker symbol, “ELS”, will be effective within the next few weeks.
Since the beginning of this year, MHC has invested about $575 million in
acquisitions, increasing the number of its properties to 215, with over 82,000 sites.
In August, MHC also purchased the real estate holdings of Thousand Trails Inc. The transaction, which is expected to close before the end of the year, represents another $160 million investement with over 17,000 sites at 57 properties.