Chicago, Illinois (July 13, 2021) – Green Courte Partners, LLC (“GCP”), a private equity real estate investment firm, announced today the acquisition of a 20-acre land parcel adjacent to Conestoga, a land-lease community it owns in Gardner, Kansas, a suburb of Kansas City. The parcel is entitled for 98 home sites, which will allow the expansion of Conestoga to 757 home sites and increase GCP’s land-lease community portfolio, which is internally managed by GCP’s operating platform, Windward Communities, to approximately 7,000 home sites nationally, including over 1,100 home sites in the Kansas City market. GCP plans to commence construction on the site improvements this summer. The new section will be called “Lakeside at Conestoga” and will feature a lake, walking paths, and a pavilion, in addition to the clubhouse, pool, playground, and other amenities at Conestoga.
Jordan Kerger, Managing Director at GCP, stated, “We’re always looking to expand our land-lease community portfolio, either through acquisitions of existing communities or by acquiring expansion land for the properties we own. With this project, we found an opportunity to address the meaningful demand we’re seeing from working families looking for high quality and affordably priced detached housing in the local market. We are excited to expand Conestoga and build this great addition to the Gardner community.”
Aaron Rutler, GCP’s counterparty in the transaction, added, “Green Courte had a clear understanding of the entitlement process and was able to secure the necessary approvals within the timing outlined in the contract. Additionally, the GCP team delivered on the terms we agreed to and didn’t allow the pandemic to hinder their ability to move forward with this project.”
For media inquiries, please contact Marnie Helfand at (312) 966-4747 or MarnieHelfand@GreenCourtePartners.com