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LifeStyle Properties Inc. (ELS) announced today (Jan. 25) increases in property operating sales for the fourth quarter and year ended Dec. 31.
Lifestyle Properties, a self managed real estate investment trust (REIT) that owns or has an interest in 272 quality communities and RV parks in 25 states and British Columbia, reported funds from operations (FFO) for the fourth quarter of $15.2 million compared to $9.7 million in the same period in 2003. Fourth quarter property operating revenues were $74.6 million compared to $57.8 million in the year prior.
For the year, the Chicago-based firm, which recently finalized the purchase of the real estate holdings of Thousand Trails Inc., reported FFO of $56.9 million compared to $60.8 million in the same period in 2003. Property operating revenues were $290.5 million compared to $228.8 million last year.