|Equity LifeStyle Properties, Inc. (ELS) is a real estate investment trust (REIT). The Company is a fully integrated owner and operator of lifestyle-oriented properties (Properties). The Company has two segments, which include Property Operations and Home Sales and Rental Operations segments. The Property Operations segment owns and operates land leases Properties and the Home Sales . The Rental Operations segment purchases, sells and leases homes at the Properties. The operations of the Company were conducted primarily through the Operating Partnership. Realty Systems, Inc. (RSI) is a wholly owned taxable REIT subsidiary of the Company that is engaged in the business of purchasing and selling or leasing Site Set homes that are located in Properties owned and managed by the Company. In September 2013, the Company announced the acquisition of Fiesta Key RV Resort, a 324-site RV resort and marina in the Florida Keys.