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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
NOVEMBER 5, 2004
(Date of Report)
MANUFACTURED HOME COMMUNITIES, INC.
(Exact name of registrant as specified in its Charter)
1-11718
(Commission File No.)
MARYLAND 36-3857664
(State or other jurisdiction of (I.R.S. Employer
incorporation or organization) Identification No.)
TWO NORTH RIVERSIDE PLAZA, CHICAGO, ILLINOIS 60606
(Address of principal executive offices) (Zip Code)
(312) 279-1400
(Registrant's telephone number, including area code)
Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the following provisions (See
General Instructions A.2 below):
[ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)
[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
[ ] Pre-commencement communications pursuant to Rule (14d-2(b)) under the
Exchange Act (17 CFR.14d-2(b))
[ ] Pre-commencement communications pursuant to Rule (13e-4(c)) under the
Exchange Act (17 CFR.13e-4(c))
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ITEM 8.01 OTHER EVENTS
Manufactured Home Communities, Inc. (NYSE: MHC) announced that on November 2,
2004, during the quarterly Board meeting, the Board of Directors approved
changing the name of the Company to Equity Lifestyle Properties, Inc. The
Company anticipates that its new ticker symbol, "ELS", will be effective within
the next few weeks. The Board approval initiates a process that will occur over
the next several months.
Since the beginning of this year, the Company has invested
approximately $575 million in acquisitions, increasing the number of properties
to 215 with over 82,000 sites. The Thousand Trails transaction, which is
anticipated to close before the end of the year, represents another $160 million
with over 17,000 sites at 57 properties. These transactions only serve to
highlight the Company's historical focus on properties that appeal to
lifestyle-oriented customers, including empty-nesters and seasonal homeowners.
In connection with these efforts, the Company is developing or has developed
relationships with leading brand names focused on serving the expectations of
these customers, including among others: Palm Harbor Homes, Encore, Thousand
Trails, Good Sam Club, and Cavco Park Models.
Commented MHC's CEO and President, Thomas P. Heneghan, "The name change
more appropriately describes the business we are in, the opportunities inherent
in our business, and the leadership of our chairman."
The forward-looking statements contained herein are subject to certain
risks and uncertainties including, but not limited to: in the age-qualified
communities, home sales results could be impacted by the ability of potential
homebuyers to sell their existing residences as well as by financial markets
volatility; in the all-age communities, results from home sales and occupancy
will continue to be impacted by local economic conditions, lack of affordable
manufactured home financing and competition from alternative housing options
including site-built single-family housing; the Company's ability to maintain
rental rates and occupancy with respect to properties currently owned or pending
acquisitions; the Company's assumptions about rental and home sales markets; the
completion of pending acquisitions and timing with respect thereto; the effect
of interest rates as well as other risks indicated from time to time in the
Company's filings with the Securities and Exchange Commission. In addition,
quarter-to-quarter results during the year are impacted by seasonality at
certain of the communities. The Company assumes no obligation to update or
supplement forward-looking statements that become untrue because of subsequent
events.
Manufactured Home Communities, Inc. owns or has an interest in 215 quality
communities in 23 states consisting of 82,292 sites. MHC is a self-administered,
self-managed, real estate investment trust (REIT) with headquarters in Chicago.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this Report to be signed on its behalf by the
undersigned thereunto duly authorized.
MANUFACTURED HOME COMMUNITIES, INC.
BY: \s\ Michael B. Berman
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Michael B. Berman
Vice President, Treasurer and
Chief Financial Officer
DATE: November 5, 2004