Green Courte Partners Acquires Portfolio With Large, High-Quality, Age-Restricted Land-Lease Community

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Nov 03, 2020, 12:55 ET

CHICAGO, Nov. 3, 2020 /PRNewswire/ -- Green Courte Partners, LLC ("GCP") announced today that its fifth investment fund, Green Courte Real Estate Partners V, LLC and its affiliates, acquired a portfolio of two land-lease communities located in the Cleveland, Ohio, metropolitan statistical area. The portfolio includes Columbia Park, a four-star, 1,076-site, age-restricted community, as well as Brook Park, a 112-site, all-age community. The communities will be managed by GCP's wholly-owned operating platform, Windward Communities. With this acquisition, GCP's portfolio of land-lease communities increases to 17 properties containing approximately 6,800 sites in six states.

GCP will implement a variety of value-add initiatives at the communities, including investing in new home inventory, instituting a robust home sales and leasing program, and updating the communities to improve their overall quality and curb appeal.

Jordan Kerger, Managing Director of GCP's land-lease community investments, commented, "We are very excited to add these assets to our rapidly-growing land-lease community portfolio. Our team worked for many months with several stakeholders, each of whom had distinct objectives, to structure and close this complicated transaction. Our success is a testament to our team's persistence and relentless dedication to building an irreplaceable portfolio of land-lease communities. Columbia Park and Brook Park are the first properties acquired by our newest fund, and we are eager and well-positioned to continue building our national footprint of communities."

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