Thomas Asakiana's questions to Equity LifeStyle Properties Inc (ELS) leadership • Q1 2025
Question
Thomas Asakiana inquired about the potential impact of tariffs on recurring CapEx. He also asked for the company's perspective on peers exiting the marina business and the implications for valuations and the competitive landscape.
Answer
Paul Seavey, an executive, stated the $90 million recurring CapEx budget is not currently seeing pressure from tariffs. Marguerite Nader, an executive, addressed the marina topic by stating there is no change to the local competitive landscape. She noted their portfolio has performed well and that peer transactions provide positive pricing data that supports their own valuations.