Lake Forest, Illinois, June 4, 2012 – Green Courte Partners, LLC announced today the acquisition from CRF Communities of Plantation Landings, a 4-star manufactured housing community in Haines City, Florida. The age-restricted, 394-site community is fully leased and located directly south of Royal Palm Village. Green Courte’s second fund, Green Courte Real Estate Partners II, LLC, acquired Royal Palm Village as a part of its purchase of American Land Lease, Inc. in 2009.
Commenting on the acquisition, Green Courte’s Chairman Randy Rowe stated, "We are pleased to add this high-quality property to our existing portfolio of ‘55+’ retirement communities in central Florida. CRF Communities is one of Florida’s leading developers of retirement communities, and we hope that we will have additional opportunities to work with the CRF organization in the future."
Green Courte has engaged American Land Lease, Inc. to manage Plantation Landings. American Land Lease is the principal manager of Green Courte's manufactured housing portfolio, which includes over 18,500 developed home sites located within 50 communities across ten states. American Land Lease will operate the community under their "55+" lifestyle brand, Solstice Communities. For additional information about Solstice Communities, please visit www.SolsticeCommunities.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, including land-lease communities (also known as manufactured housing communities) and parking assets in high barrier locations. 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 media inquiries, please contact Marnie Helfand at (847) 235-8658 or MarnieHelfand@GreenCourtePartners.com