Green Courte Partners Acquires Two Land-Lease Communities In Maine

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Jul 31, 2013, 10:00 ET

LAKE FOREST, Ill., July 31, 2013 /PRNewswire/ -- Green Courte Partners, LLC, a private equity real estate investment firm focused on building industry-leading companies within niche real estate sectors, announced today the acquisition of two all-age land-lease communities located in southern coastal Maine. The communities contain 483 home sites and include Town & Country Village in Lisbon and Maplewood Manor/Merry Meeting in Brunswick.

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Commenting on the acquisition, Green Courte's Chairman, Randy Rowe stated, "We are pleased to enter the Maine market by adding two high-quality communities to our Clearview portfolio of all-age land-lease communities. Our efforts continue to be focused on adding high-quality land-lease communities to our portfolio and leveraging the strengths of our operating platform, American Land Lease."

Green Courte has engaged American Land Lease, Inc., a wholly-owned subsidiary of its second fund, Green Courte Real Estate Partners II, LLC, to manage the communities. American Land Lease is the principal manager of Green Courte's land-lease/manufactured housing community portfolio, which now includes over 19,000 developed home sites located across 53 communities in eleven states. American Land Lease will operate the community under its all-age brand, Clearview Communities. For additional information about Clearview Communities, please visit www.clearviewcommunities.com.

About Green Courte Partners, LLC

Green Courte Partners, LLC is a Chicago-based private equity real estate investment firm targeting niche real estate sectors. Currently, the firm's strategies include building fully-integrated companies investing in land-lease/manufactured housing communities and parking properties. The firm combines focused investment strategies with a disciplined approach to transaction execution and asset management. Green Courte's goal is to invest in high-quality assets that will generate attractive risk-adjusted returns over a long-term holding period. For additional information, please visit www.GreenCourtePartners.com.

SOURCE Green Courte Partners, LLC