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Equity LifeStyle Properties, Inc. Message Board

  • sauve9 sauve9 Oct 27, 2010 1:57 PM Flag

    Creekside-- ELS mails keys back to lender

    Creekside is a 165-site all-age manufactured home community located in Wyoming, Michigan. On December 29, 2009, we sent a notice of imminent default along with a deed-in-lieu of foreclosure to the loan servicer regarding the $3.6 million mortgage loan on Creekside which bears interest at 6.327% and was scheduled to mature in 2015. We defaulted on the mortgage in January 2010 and ceased managing the property as of January 29, 2010.

    Did ELS ever mention this in a conference call?
    I never saw it except in the 10Q

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