CHICAGO, IL (February 20, 2019) – The Parking Spot, the nation's largest owner and operator of near-airport parking facilities, is pleased to celebrate the grand opening of its brand-new location directly adjacent to Salt Lake City International Airport (“SLC”). Visitors to SLC can now take advantage of an affordable, well-located parking option with The Parking Spot’s acclaimed customer service. The property currently offers approximately 2,000 covered and uncovered spaces with capacity to expand to 3,500 total spaces.
The SLC property represents The Parking Spot’s third completed development in the past three years, including a new facility at Charlotte Douglas International Airport (opened in April 2018) and a second location at Austin-Bergstrom International Airport (opened in February 2017). The Parking Spot also expanded its presence at Dallas Love Field in 2018 with the addition of Best Parking, which is located adjacent to the airport entrance.
“We are very excited to introduce travelers at SLC to The Parking Spot,” said Jordan Kerger, Managing Director at Green Courte Partners, LLC, which owns The Parking Spot through its private equity funds. “The airport is experiencing tremendous growth and we are always on the lookout for opportunities to expand The Parking Spot’s footprint to dynamic markets like Salt Lake City.”
Stephen Bamberger, Green Courte’s counterparty in the SLC transaction, which was structured as a long-term lease with a purchase option, stated, “It was a pleasure to work with Green Courte. In what proved to be a complex transaction, the Green Courte team worked tirelessly to create a structure that accomplished our financial objectives.”
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.
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