Green Courte Acquires Portfolio of Four Land-Lease Communities

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May 12, 2020, 11:00 ET

CHICAGO, May 12, 2020 /PRNewswire/ -- Green Courte Partners, LLC ("GCP") announced today that its fourth investment fund, Green Courte Real Estate Partners IV, LLC and its affiliates, acquired a portfolio of four all-age land-lease communities located in the greater Rochester, New York, area. These four communities add a total of 1,213 sites to GCP's land-lease portfolio, bringing the total number of properties to fifteen with over 5,600 sites in five states.

GCP plans to invest capital in new home inventory, amenities, and aesthetic and infrastructure improvements. GCP will also implement value-add initiatives such as employing a rental home and sales operation led by its in-house, national land-lease community management platform.

Jordan Kerger, Managing Director of GCP's land-lease community investments, said, "We will continue the prior owner's mission of offering a compelling value proposition for working families. We also plan to invest significant capital to improve the communities. We are excited about the scale this acquisition provides for our rapidly growing land-lease portfolio, and we continue to seek opportunities to acquire communities nationwide."

Joel Harper, one of the sellers of the portfolio, said, "Due to the multi-generational ownership of these communities, this was a complex transaction and GCP was uniquely positioned to accommodate our needs. Additionally, GCP's reputation in the industry as a first-class owner-operator provided us with the conviction that they were the right fit for our employees and residents."

About Green Courte Partners, LLC
Green Courte Partners, LLC is a Chicago-based private equity real estate investment firm focused on building industry-leading companies within niche real estate sectors, including near-airport parking facilities, land-lease communities, and active adult/independent senior living properties. The firm combines focused investment strategies with a disciplined approach to transaction execution, operations, and asset management. Green Courte's goal is to invest in high-quality real estate assets that will generate attractive risk-adjusted returns over a long-term holding period. For additional information, please visit Green Courte's website at www.GreenCourtePartners.com

SOURCE Green Courte Partners, LLC