Lake Forest, Illinois, July 31, 2013 – 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.
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.