Baron Real Estate Fund, in its Q1 2021 investor letter, mentioned Equity LifeStyle Properties, Inc. (NYSE: ELS ), and shared their insights on the company. Equity LifeStyle Properties, Inc. is a Chicago, Illinois-based real estate investment trust company that currently has a $12.5 billion market capitalization. Since the beginning of the year, ELS delivered an 8.59% return, extending its 12-month gains to 22.57%. As of May 12, 2021, the stock closed at $67.70 per share.