Green Courte Continues Expansion of Near-Airport Parking Portfolio

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Jan 21, 2021, 12:37 ET

CHICAGO, Jan. 21, 2021 /PRNewswire/ -- Green Courte Partners, LLC, 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 a 1,580-space parking facility serving Baltimore/Washington International Thurgood Marshall Airport ("BWI"). The property, which is currently operated as Econopark Express, will be rebranded as The Parking Spot West and will serve as TPS's second facility at BWI. The Parking Spot West will enhance TPS's operating efficiencies in the market and its location will allow TPS to better serve customers arriving from the Washington, D.C., metropolitan area. With this acquisition, Green Courte's near-airport parking portfolio expands to 39 facilities at 22 airports containing more than 78,000 spaces nationwide.

Jordan Kerger, Managing Director at Green Courte, stated, "We are pleased to expand our presence at BWI with a property that complements our existing location in the market. Our deep industry experience and our ability to execute quickly allowed us to customize the transaction to meet the specific financial and structuring needs of the seller."

Francis Gardiner, Green Courte's counterparty in the transaction, added, "Green Courte approached us directly regarding a transaction, and they delivered on the terms and timing we agreed to despite the challenging economic and operating circumstances."

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