There's Money In Sam Zell's Mobile Home Park REIT
One of the reasons Sam Zell is America's sixth-richest real estate mogul is he sees opportunities in sectors other investors avoid. An example: Equity LifeStyle Properties, the Zell-led REIT that puts major skin in mobile home and RV parks.
Equity LifeStyle posted an all-time high in early February, making it one of the strongest-performing REITs in a sluggish start to the stock market this year. Equity LifeStyle investors saw a 27% return on their shares over the past year, making it Chicago's top-performing REIT and fifth-strongest in the nation, reports Crain's.
Equity LifeStyle Properties owns and manages over 144,000 mobile home and RV sites across North America. There's even more reason to be bullish: With 10k baby boomers turning 65 every day, Equity LifeStyle believes demand for mobile homes will rise. [Crain's]
