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ELS > SEC Filings for ELS > Form 8-K on 18-Apr-2014All Recent SEC Filings

Show all filings for EQUITY LIFESTYLE PROPERTIES INC

Form 8-K for EQUITY LIFESTYLE PROPERTIES INC


18-Apr-2014

Other Events, Financial Statements and Exhibits


Item 8.01 Other events California Hawaiian Litigation

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM 8-K

CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934

Date of Report: April 15, 2014
(Date of earliest event reported)

                       EQUITY LIFESTYLE PROPERTIES, INC.
             (Exact name of registrant as specified in its charter)


        Maryland                     1-11718                    36-3857664
     (State or other
     jurisdiction of          (Commission File No.)           (IRS Employer
    incorporation or                                      Identification Number)
      organization)

Two North Riverside Plaza, Chicago, Illinois 60606
(Address of principal executive offices) (Zip Code)

(312) 279-1400
(Registrant's telephone number, including area code)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o Pre-commencement material pursuant to Rule 14a14d-2(b) under the Exchange Act
(17 CFR 240.14d-2(b))
o Pre-commencement material pursuant to Rule 13e-4(c) under the Exchange Act (17 CFE 240.13e-4(c))


Item 8.01 Other Events

On April 15 and April 16, 2014, Equity LifeStyle Properties, Inc. (referred to herein as "we," "us," and "our") issued two news releases announcing jury verdicts against our operating partnership for compensatory and punitive damages in a case involving our California Hawaiian manufactured home property before the California Superior Court of Santa Clara County, Case No. 109CV140751 (referred to herein as the "California Lawsuit").
This report includes certain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. When used, words such as "anticipate," "expect," "believe," "project," "intend," "may be" and "will be" and similar words or phrases, or the negative thereof, unless the context requires otherwise, are intended to identify forward-looking statements and may include, without limitation, information regarding our expectations, goals or intentions regarding the future, and the expected effect of our recent acquisitions. These forward-looking statements are subject to numerous assumptions, risks and uncertainties, including, but not limited to:
our ability to control costs, real estate market conditions, the actual rate of decline in customers, the actual use of sites by customers and our success in acquiring new customers at our properties (including those that we may acquire);

         our ability to maintain historical or increase future rental rates and
          occupancy with respect to properties currently owned or that we may
          acquire;


         our ability to retain and attract customers renewing, upgrading and
          entering right-to-use contracts;

our assumptions about rental and home sales markets;

our assumptions and guidance concerning 2014 estimated net income, FFO and Normalized FFO;

our ability to manage counterparty risk;

         in the age-qualified properties, home sales results could be impacted
          by the ability of potential homebuyers to sell their existing
          residences as well as by financial, credit and capital markets
          volatility;


         results from home sales and occupancy will continue to be impacted by
          local economic conditions, lack of affordable manufactured home
          financing and competition from alternative housing options including
          site-built single-family housing;


         impact of government intervention to stabilize site-built single family
          housing and not manufactured housing;


         the completion of future transactions in their entirety, if any, and
          timing and effective integration with respect thereto;


         effective integration of recent acquisitions and our estimates
          regarding the future performance of recent acquisitions;


         unanticipated costs or unforeseen liabilities associated with recent
          acquisitions;


         ability to obtain financing or refinance existing debt on favorable
          terms or at all;

the effect of interest rates;

the dilutive effects of issuing additional securities;

         the effect of accounting for the entry of contracts with customers
          representing a right-to-use the Properties under the Codification Topic
          "Revenue Recognition;"


         the outcome of the California Lawsuit including any post-trial
          proceedings in the trial court or on appeal; and


         other risks indicated from time to time in our filings with the
          Securities and Exchange Commission.

These forward-looking statements are based on management's present expectations and beliefs about future events. As with any projection or forecast, these statements are inherently susceptible to uncertainty and changes in circumstances. We are under no obligation to, and expressly disclaim any obligation to, update or alter our forward-looking statements whether as a result of such changes, new information, subsequent events or otherwise.

We own or have an interest in 379 quality properties in 32 states and British Columbia consisting of 140,333 sites. We are a self-administered, self-managed real estate investment trust ("REIT") with headquarters in Chicago.



Item 9.01 Financial Statements and Exhibits

Exhibit 99.1       Equity LifeStyle Properties, Inc. press release dated April
                   15, 2014, "ELS announces Jury Verdict in California Lawsuit"


Exhibit 99.2       Equity LifeStyle Properties, Inc. press release dated April
                   16, 2014, "ELS announces Punitive Damages Jury Verdict in
                   California Lawsuit"


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