Green Courte Partners Acquires All-Age Land-Lease Community Located in Tucson, Arizona

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Aug 27, 2024, 17:00 ET

CHICAGO, Aug. 27, 2024 /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 Mountain Vista, a 460-site all-age land-lease community located in Tucson, Arizona. The acquisition adds an Arizona property to GCP's national land-lease community portfolio and brings it to a total of 24 communities located in eight states and containing approximately 9,000 home sites. Mountain Vista will be managed by Windward Communities ("Windward"), GCP's wholly owned land-lease community operating platform. Windward will implement an immediate and substantial capital improvement plan, including road paving, upgraded amenities, and refreshed landscaping and signage, to enhance the community and support leasing initiatives.

Regarding the transaction, Jordan Kerger, Managing Director at GCP, stated, "We are excited to establish a presence in Arizona with a community of this size and quality as we continue to seek opportunities to grow our land-lease community portfolio nationwide."

Tim Davis, GCP's counterparty in the transaction, added, "We brought this opportunity directly to Green Courte because of our long-term relationship and our confidence in their ability to execute based on the transactions we have successfully completed together in the past. Green Courte met our transaction timeframe and closed at the original terms despite continued volatility in the capital markets."

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 industrial outdoor storage 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 Windward Communities

Windward Communities manages a portfolio of 24 land-lease communities across eight states, providing approximately 9,000 home sites to seniors, families, and individuals seeking a safe and affordable place to live. With honesty and integrity at the heart of our mission, Windward Communities is committed to delivering outstanding housing value, providing unmatched customer experiences, offering prompt solutions to any concerns, and creating communities that feel like home. To learn more, visit www.LiveWindward.com .

SOURCE Green Courte Partners, LLC