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Equity Lifestyle Properties is a real estate investment trust (REIT) that owns and operates manufactured home communities and recreational vehicle (RV) resorts across the United States. The company's portfolio includes over 400 properties in more than 30 states, providing affordable housing options and vacation destinations. Equity Lifestyle Properties generates revenue primarily through site rental fees from long-term residents in manufactured home communities and short-term guests at RV resorts. The company has established itself as a leading consolidator in the manufactured housing and RV resort sectors, benefiting from demographic trends favoring affordable housing and outdoor recreation.