Equity LifeStyle Properties secures $415 million in new unsecured term loan facilities
ELS•Equity LifeStyle Properties added $415 million in senior unsecured loan facilities, including a $215 million term loan and a $200 million delayed draw term loan. Proceeds repaid credit-line borrowings, and the delayed draw is planned to refinance an existing $200 million term loan.
1. Loan facilities
Equity LifeStyle Properties amended its loan agreement on November 10, 2026, adding $415 million in senior unsecured facilities with Wells Fargo as administrative agent. The $215 million term loan matures March 31, 2032, while the $200 million delayed draw term loan matures November 10, 2031.
2. Rates and use
The term loan proceeds repaid credit-line borrowings. A delayed draw planned for January 21, 2027, would refinance an existing $200 million term loan. Both facilities are interest-only and priced at SOFR plus 1.15% to 1.6%; swaps fix $200 million of the term loan at 5.48%. The facilities can be increased by up to $200 million at the borrower’s request, subject to conditions.
