Author: Clare Carey

Chicago, Illinois (September 30, 2024) – Green Courte Partners, LLC (“Green Courte”), a private equity real estate investment firm focused on building industry-leading companies within niche real estate sectors, announced today that its sixth investment fund, Green Courte Real Estate Partners VI, LLC, and its affiliates, acquired 1191 North Foster Road, a well-located land development site in San Antonio, Texas, that is adjacent to a growing hub of logistics facilities.

Green Courte plans to develop the site into an industrial outdoor storage (“IOS”) facility and then operate a portion of the property as managed truck storage and lease the remainder to IOS users on a triple-net basis. Construction is scheduled to be completed in the first half of 2025. The property will be managed by GCP Truck Storage Management, LLC (“GCP TSM”), Green Courte’s wholly owned IOS operating platform.  

Regarding the transaction, Jordan Kerger, Managing Director at Green Courte, stated, “This acquisition is a valuable addition to our expanding IOS portfolio. The property’s attractive location in a strong and growing industrial submarket makes it an ideal site for executing our IOS strategy.”

Currey Hall, Managing Director at Green Courte and President of GCP TSM, said, “We are excited to begin construction in the coming weeks and move forward with our business plan. The Foster Road location, which is less than a mile from an I-10 interchange, is ideal for logistics operators and stands out as one of the best in the market.  This site offers us the flexibility to meet demand by offering managed truck storage in addition to other IOS leasing options.”

Matt McWilliams, the seller in the transaction, added, “We are pleased to have successfully completed a transaction with Green Courte. They were great to work with throughout the entire sale process and closed our transaction on time.”

For media inquiries, please contact Marnie Helfand at (312) 966-4747 or MarnieHelfand@GreenCourtePartners.com

Chicago, Illinois (August 27, 2024) – Green Courte Partners, LLC (“GCP”), a private equity real estate investment firm focused on building industry-leading companies within niche real estate sectors, announced today that its fifth investment fund, Green Courte Real Estate Partners V, LLC, and its affiliates, acquired Mountain Vista, a 460-site all-age land-lease community located in Tucson, Arizona. The acquisition adds an Arizona property to GCP’s national land-lease community portfolio and brings it to a total of 24 communities located in eight states and containing approximately 9,000 home sites. Mountain Vista will be managed by Windward Communities (“Windward”), GCP’s wholly owned land-lease community operating platform. Windward will implement an immediate and substantial capital improvement plan, including road paving, upgraded amenities, and refreshed landscaping and signage, to enhance the community and support leasing initiatives.

Regarding the transaction, Jordan Kerger, Managing Director at GCP, stated, “We are excited to establish a presence in Arizona with a community of this size and quality as we continue to seek opportunities to grow our land-lease community portfolio nationwide.”

Tim Davis, GCP’s counterparty in the transaction, added, “We brought this opportunity directly to Green Courte because of our long-term relationship and our confidence in their ability to execute based on the transactions we have successfully completed together in the past. Green Courte met our transaction timeframe and closed at the original terms despite continued volatility in the capital markets.”

For media inquiries, please contact Marnie Helfand at (312) 966-4747 or MarnieHelfand@GreenCourtePartners.com

Chicago, Illinois (August 1, 2024) ­– Green Courte Partners, LLC (“GCP”), a private equity real estate investment firm focused on building industry-leading companies within niche real estate sectors, announced today that its fifth investment fund, Green Courte Real Estate Partners V, LLC, and its affiliates, acquired Chesapeake Bay, an active-adult community with 348 apartments and cottages located in Seabrook, Texas, just south of Houston along Clear Lake, a desirable recreational area. The acquisition increases GCP’s national senior living portfolio, which is managed by the firm’s wholly owned operating platform, True Connection Communities (“TCC”), to 19 communities containing approximately 3,100 units. 

Matt Pyzyk, Managing Director at GCP, said, “Chesapeake Bay is a valuable addition to our growing portfolio of age-restricted housing. The Houston market has demonstrated robust demand for the active-adult product, and Chesapeake Bay offers a premium Class A option for the baby boomer demographic. With a mix of apartments and cottages, the community’s initial phase leased quickly and maintained strong occupancy, prompting the developer to add 90 cottages in late 2023 to meet market demand. We will continue to seek attractive opportunities to acquire or develop additional communities for our active-adult portfolio.”

Andy Alexander, Chief Executive Officer of Green Courte Residential, which oversees Green Courte’s residential community operating platforms, added, “We are excited to expand TCC’s active-adult community footprint with the acquisition of Chesapeake Bay. The combination of active-adult apartments and single-story cottages with attached garages provides a wide array of options for Houston’s growing 55+ population base.  The community boasts an attractive suite of amenities, including two resort-style pools, a movie theater, and an on-site bar serving residents during social events throughout the week.”

For media inquiries, please contact Marnie Helfand at (312) 966-4747 or MarnieHelfand@GreenCourtePartners.com