June 23, 2009 (FinancialWire) — Equity LifeStyle Properties, Inc. (NYSE: ELS) said it has launched an underwritten public offering of four million shares of common stock. Merrill Lynch & Co. (NYSE: MER) and Wachovia Securities (NYSE: WB) are acting as joint book-running managers.

The underwriters will be granted a thirty-day option to purchase up to 600,000 additional shares of common stock to cover overallotments.

Equity LifeStyle Properties plans to use the net proceeds from this offering to repay secured long-term debt and for general corporate uses.

Chicago-based Equity LifeStyle Properties is an owner and operator of lifestyle-oriented properties. The company leases individual developed areas, with access to utilities for placement of factory-built homes, cottages, cabins or recreational vehicles.

The company’s customers lease individual sites or purchase right-to-use contracts that provide the customer access to specific properties for limited stays.

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