Category: Uncategorized

Chicago, Illinois (July 11, 2023) – 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 fourth investment fund, Green Courte Real Estate Partners IV, LLC, and its affiliates, acquired two land-lease communities, East Avenue and Forest Lawn, comprising approximately 335 home sites and located in Rochester, New York. The acquisition increases GCP’s national land-lease community portfolio, which is managed by the firm’s wholly owned operating platform, Windward Communities, to 23 communities containing approximately 8,000 sites.

Regarding the transaction, Jordan Kerger, Managing Director at GCP, stated, “East Avenue and Forest Lawn are located adjacent to our existing land-lease community, Penfield Farms, so this was a uniquely strategic acquisition. We plan to operate the three communities together and to rebrand East Avenue and Forest Lawn as Penfield Farms East and Penfield Farms West, respectively. We’ve known the owners of these properties for many years and completed transactions with them in the past, so we structured a direct, off-market transaction that met both our needs. We are thrilled to expand our footprint in the greater Rochester area.”

Jim Martin, one of the sellers of the communities, added, “We are pleased to have completed our third transaction with GCP. Given our long-standing relationship with them and their excellent track record, we felt confident in their ability to close despite the recent market volatility.”

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

Chicago, Illinois (January 31, 2023) ­– 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 Bloomfield, a 95-apartment active-adult community located in Omaha, Nebraska. The acquisition increases GCP’s national age-restricted housing portfolio, which is managed by the firm’s wholly owned operating platform, True Connection Communities (“TCC”), to 18 communities containing approximately 2,700 units.

Matt Pyzyk, Managing Director of Acquisitions at GCP, said, “Bloomfield is an excellent addition to our portfolio. The community’s occupancy proved resilient through the pandemic, which is a testament to its unique product offering, compelling value proposition, and desirable location. We have observed strong demand for the active-adult operating format, and we will continue to seek attractive acquisition and development opportunities to grow our age-restricted housing portfolio.”

Jim Pusateri, Chief Executive Officer of TCC and a Managing Director at GCP, added, “We are thrilled to add Bloomfield to the TCC family. The community features large apartments with balconies, an attractive suite of amenities, and underground parking. Resident activities are included in rent, and à la carte services and meals, including dinner, are also available to residents. We plan to complete unit renovations and upgrade the outdoor amenities to enhance Bloomfield’s competitive position in the market.”

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

Chicago, Illinois (June 14, 2022) – Green Courte Partners, LLC (“GCP”), a private equity real estate investment firm and owner of The Parking Spot (“TPS”), the nation’s leading near-airport parking company, announced today the acquisition of Blue Sky Airport Parking, a 1,540-space parking facility serving Phoenix Sky Harbor International Airport (“PHX”). The facility, which will be rebranded as “The Parking Spot South” in the coming months, will be the company’s third property in the PHX market and is the only near-airport parking facility located south of the airport. The property’s unique location relative to the other two TPS properties on the north side of the airport will allow TPS to extend its customer base to include those arriving from the fast-growing southern and eastern Phoenix suburbs. The acquisition expands GCP’s near-airport parking portfolio to 38 facilities at 22 airports containing approximately 78,000 spaces nationwide.

David Warren, the developer and owner of Blue Sky Airport Parking, stated, “When I developed Blue Sky in 2010, I intended for it to be a family-owned asset for generations, so selling it was an emotional decision for me. I’ve gotten to know GCP and TPS well over the years and there is no other group that I would have trusted to take over Blue Sky. They customized a deal that suited the financial needs of my family and our partners, and I’m confident that our employees and customers will be in good hands with them.”

Jordan Kerger, Managing Director at GCP, added, “Blue Sky has been a high-priority acquisition target for us for a decade and we are pleased to expand TPS’s presence at PHX with a property that is well positioned to capitalize on the future growth of the region. We have known Dave for years and are very impressed by the high-quality facility and successful business that he built.”

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

Chicago, Illinois (March 16, 2022) – Green Courte Partners, LLC, a private equity real estate investment firm focused on building industry-leading companies within niche real estate sectors, announced today that it has hired Timothy M. Holic as the Chief Financial Officer of Green Courte Residential Holdings, LLC (“GCRH”), the holding company that oversees Green Courte’s senior housing and land-lease community operating companies, True Connection Communities (“TCC”) and Windward Communities (“WC”), respectively. Mr. Holic will also serve as the Chief Financial Officer of TCC and WC and will join Green Courte as a Managing Director.

Mr. Holic previously served as the Chief Financial Officer of The Parking Spot (“TPS”), Green Courte’s near-airport parking company, where he has worked since the company’s inception in 1999. At TPS, Mr. Holic developed and oversaw the company’s accounting and reporting capabilities and served on the senior leadership team. Prior to joining TPS, Mr. Holic was an Accounting and Finance Manager with Accenture.  Mr. Holic holds a Bachelor of Science in Accounting from Eastern Illinois University and a Master of Business Administration from DePaul University. He is also a Certified Public Accountant.

Commenting on the addition of Mr. Holic to GCRH, TCC, and WC, David B. Lentz, Green Courte’s Chief Executive Officer, said, “We are thrilled to welcome Tim as a new partner at Green Courte and as a key member of our residential team after his 20+ years of innovative and impactful financial leadership at The Parking Spot. It speaks to the unique nature of Green Courte’s business model that we are able to create new opportunities for talented members of our team by shifting their responsibilities to tap into their diverse experiences as needs evolve across our different platforms.”

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