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Chicago, Ill.-based Equity LifeStyle Properties (ELS) has released their first quarter 2019 results, showing an increase in revenues of 5.3%, according to a press release. 

Revenues climbed $13.1 million during the first quarter, which ended on March 31, to $259.1 million compared to $246.0 million for the same period in 2018.

On March 25, ELS also completed the acquisitions of Drummer Boy Camping Resort, a 465-site RV community located in Gettysburg, Pa., and Lake of the Woods Campground, a 303-site RV community located in Wautoma, Wisc., for a total purchase price of $25.4 million. These acquisitions were funded with available cash and a loan assumption of approximately $10.8 million, excluding a mortgage premium of $400,000.

On April 10, ELS completed the acquisition of Round Top RV Campground, a 391-site RV community located in Gettysburg, Pa. The purchase price was approximately $12.4 million. This acquisition was funded with available cash and a loan assumption of approximately $7.8 million, excluding a mortgage premium of $200,000.

Property operating revenues, excluding deferrals, increased $16.2 million to $250.9 million compared to $234.7 million for the same period in 2018. Income from property operations, excluding deferrals and property management, increased $11.9 million to $153.4 million compared to $141.5 million for the same period in 2018.

Core property operating revenues, excluding deferrals, increased approximately 4% and core income from property operations, excluding deferrals and property management, increased approximately 4.9% compared to the same period in 2018.

Net income available for common stockholders increased $53.1 million, or $0.58 per common share, to $113.3 million, or $1.26 per common share, compared to $60.2 million, or $0.68 per common share, for the same period in 2018.

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