Category: Uncategorized

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

Chicago, Illinois (February 8, 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 5301 Wilbarger, a 40-acre industrial outdoor storage (“IOS”) property located in Fort Worth, Texas, that the company intends to operate as managed truck storage. The acquisition marks GCP’s entrance into the IOS sector and launches its truck storage operating platform.

Regarding the transaction, Jordan Kerger, Managing Director at GCP, stated, “We are thrilled to enter the IOS sector through this strategic acquisition. Consistent with our investments in near-airport parking, land-lease communities, and senior living, we have built a fully integrated operating platform to enhance the value of our real estate and better position us for a wide range of transaction opportunities.” GCP’s truck storage operating platform, GCP Truck Storage Management (“GCP TSM”), will be led by Currey Hall, who is a founder and the former president of Vantage Truck Parking, an earlier entrant into the truck storage sector.

Hall, now Managing Director at GCP and President of GCP TSM, said, “This is a fantastic property located in a large and expanding industrial corridor in the Dallas-Fort Worth metroplex. I am very excited to lead the rollout of our operating platform and the implementation of our business plan. We will continue to pursue opportunities to acquire new properties and expand our platform.”

JD Salazar, representing TH Logistics Fund I, a joint venture between Timber Hill Group and Champion Realty Advisors, added, “GCP approached us directly regarding the sale of our property. GCP and our team worked together to find creative solutions that allowed us to close on the terms to which we had originally agreed. I would be pleased to work with GCP again on future real estate transactions.”

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

Chicago, Illinois (February 6, 2024) ­— The Parking Spot (“TPS”), a leading owner and operator of near-airport parking properties, announced today the acquisition of Park ’N Fly (“PNF”), a near-airport parking sector owner/operator with 13 owned, leased, and managed facilities. This transaction will allow TPS to expand its footprint, broaden its third-party management offering for near-airport parking properties, and augment the company’s proprietary revenue-management technology with PNF’s near-airport parking search aggregator, which facilitates bookings for third-party-owned near-airport parking assets. With this addition, TPS now operates 47 facilities containing more than 100,000 spaces and located at 28 airports. TPS is owned by investment funds sponsored by Green Courte Partners, LLC (“GCP”).

Jordan Kerger, Managing Director at GCP, said, “The Park ’N Fly platform has been our top acquisition target since we acquired The Parking Spot in 2011. Park ’N Fly was the first near-airport parking operator in the country, and we have a deep respect for the company. We are excited to continue to grow in the highly fragmented near-airport parking sector, and we remain committed to identifying opportunities to broaden The Parking Spot’s footprint nationally through Green Courte Partners’ investment funds.”

“The acquisition of Park ’N Fly is a defining moment for The Parking Spot,” said Tim O’Malley, Chief Executive Officer of TPS and Managing Director at GCP. “We see many opportunities for continued growth, and we are excited for The Parking Spot’s exceptional service to reach more customers across many new markets.”

Stephan Baars, Chief Executive Officer of BCD Group, GCP’s counterparty in the transaction, stated, “We recently celebrated our 35th year of owning Park ’N Fly. When we made the decision to sell, our main priority was to find a buyer that provided a secure future, a similar cultural fit, continued growth opportunities for our employees, and an outstanding experience for our customers. We found a perfect fit with the team at Green Courte Partners and The Parking Spot.”

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

Chicago, Illinois (August 3, 2023) ­– The Parking Spot (“TPS”), the nation’s largest owner and operator of near-airport parking properties, announced today the acquisition by an affiliate of a second location serving the Philadelphia International Airport (“PHL”). The near-airport parking facility, known as Colonial Airport Parking (“Colonial”), has 1,349 self-park spaces. Colonial is located on the south side of PHL and will be rebranded as The Parking Spot South to complement TPS’s existing property on the north side of PHL. With this addition, TPS now operates 38 facilities at 22 airports containing more than 81,000 spaces. TPS is owned by an investment fund sponsored by Green Courte Partners, LLC (“GCP”).

Jordan Kerger, Managing Director at GCP, added, “We are pleased to expand our presence at PHL and add a location on the south side of the airport. We continue to seek opportunities to grow TPS nationally through our GCP-sponsored investment funds.”

Jed Hatfield, one of the prior owners of Colonial, added, “We’ve had a long-standing relationship with GCP. They approached us directly and were able to structure a transaction that accomplished our objectives. We were pleased with the timeline and outcome of the transaction.”

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