ELS Sees Minimal Property Damage From Sandy
Equity LifeStyle Properties Inc. reported minimal damage from Hurricane Sandy to its properties along the Atlantic seaboard and in the northeast.
According to a press release, no injuries to residents, customers or employees have been reported. The company has a total of 56 properties (21 manufactured home communities and 35 RV resorts) that were within the storm’s trajectory.
Property damage losses at those properties are preliminarily estimated to total less than $500,000. The bulk of those losses are expected to be for removal of damaged trees and debris cleanup.
Three RV resorts that would otherwise have been open for customer use on weekends remain closed due to loss of electricity as a result of the storm. All of the manufactured home communities are open, one is without electricity.
The company does not yet have an estimate for business interruption losses, but they are expected to be relatively limited.