Green Courte Partners Acquires Active-Adult Community in Omaha

CHICAGO, Jan. 31, 2023 /PRNewswire/ -- 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."

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 active adult/independent senior living properties, land-lease communities, and near-airport parking facilities. 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.

About True Connection Communities

True Connection Communities operates a high-quality portfolio of 18 active-adult and independent senior living communities, containing over 2,700 units located in nine states, to meet the growing needs of Americans over the age of 55 seeking an active and engaged lifestyle. To deliver an exceptional resident experience, TCC focuses on five key offerings, which include custom-designed fitness and wellness programs, creative chef-prepared meals made with the freshest seasonal ingredients, social activities designed for a life on the move, innovative educational programs, and state-of-the-art technology. To learn more, visit www.TrueConnectionCommunities.com.

SOURCE Green Courte Partners, LLC