Green Courte Partners Expands Near-Airport Parking Portfolio with the Acquisition of USAirport Parking

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Oct 22, 2024, 13:00 ET

CHICAGO, Oct. 22, 2024 /PRNewswire/ -- Green Courte Partners, LLC ("Green Courte"), 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 USAirport Parking ("USAP"), a near-airport parking facility serving Denver International Airport. The facility has 7,599 self-park spaces, including over 1,100 covered spaces, and will be managed by and rebranded as The Parking Spot.

Jordan Kerger, Managing Director at Green Courte, stated, "USAP has been one of our top acquisition targets since we began investing in the near-airport parking industry in 2011. We identified USAP because of its strategic location and attractive product offering. Following the acquisition, we plan to enhance the property's position as a premium facility by investing in significant capital improvements, including expansion of the facility's covered parking options."

Milt Rotenberg, Green Courte's counterparty in the transaction, added, "Green Courte built a relationship with us over the past decade, demonstrating a deep understanding of our property, the Denver market, and the near-airport parking industry. They crafted a flexible transaction structure that met our needs and delivered exactly what they promised."

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. The firm has active investments in the following sectors: active-adult/independent senior living, land-lease communities, industrial outdoor storage, and near-airport parking. 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