Green Courte Partners Commences Tender Offer for Any and All Shares of Series A Preferred Stock of American Land Lease, Inc.

LAKE FOREST, IL – September 10, 2009 - (BUSINESS WIRE) – Green Courte Partners, LLC, a Chicago-based private equity real estate investment firm, today announced that one of its affiliates (such affiliate is referred to as “Green Courte Partners”) has commenced an offer (the “Tender Offer”) to purchase any and all shares of 7.75% Series A Cumulative Redeemable Preferred Stock (the “Shares”) of American Land Lease, Inc. (symbol: ANLDP) not owned by it at a price of $8.4688 per Share in cash without interest and less any amounts required to be deducted and withheld under any applicable law (the “Tender Offer Consideration”). The terms and conditions of the Tender Offer are described in the Offer to Purchase dated September 10, 2009 (the “Offer to Purchase”), and a related letter of transmittal (the “Letter of Transmittal” and, together with the Offer to Purchase, the “Offer Documents”). The Tender Offer Consideration represents the entire amount Green Courte Partners is offering to pay for each Share validly tendered on or prior to 5:00 P.M., New York City time, on October 8, 2009, unless the Tender Offer is extended. A holder whose Shares are validly tendered in the Tender Offer will not have a right to receive previously accrued but unpaid dividends, which equaled $0.96875 per Share at August 31, 2009. The $8.4688 per Share to be paid for each Share in the Tender Offer represents a premium of approximately 35.5% to $6.25, which is the last sale price on September 9, 2009 as reported on the inter-dealer Pink Sheets. The Tender Offer is not conditioned on Green Courte Partners obtaining financing or Green Courte Partners’ receipt of a minimum amount of tendered Shares.

Green Courte Partners has retained Wells Fargo Bank, N.A. to serve as the depositary and Innisfree M&A Incorporated to serve as the information agent. Questions regarding the Tender Offer and copies of the Offer Documents may be obtained by calling Innisfree M&A Incorporated toll-free at 888-750-5834 (banks and brokers may call collect at 212-750-5833).

This press release does not constitute an offer to purchase or a solicitation of any offer to sell the Shares or any other securities. The Tender Offer is being made solely by the Offer to Purchase dated September 10, 2009 and the related Letter of Transmittal.

The Tender Offer is not being made to holders of Shares in any jurisdiction in which the making or acceptance thereof would not be in compliance with the securities, blue sky or other laws of such jurisdiction.


About Green Courte Partners

Green Courte Partners is a Chicago-based private equity real estate investment firm targeting niche real estate sectors, including manufactured housing communities, “Main Street” retail/mixed-use properties 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.

Green Courte Partners Names James R. Goldman Vice Chairman

LAKE FOREST, Illinois, August 5, 2009 — Green Courte Partners, LLC, a private real estate investment firm targeting niche real estate sectors, announced today the promotion of James R. Goldman to Vice Chairman. Mr. Goldman will continue to serve as the Chief Investment Officer of Green Courte.

Since joining Green Courte in 2003, Mr. Goldman has been actively involved in all aspects of the firm’s operations, including acquisitions, fundraising, portfolio management and investor relations and reporting. Mr. Goldman was integrally involved in Green Courte’s recent acquisition of American Land Lease, Inc. The acquisition of American Land Lease doubled the size of Green Courte’s manufactured housing community portfolio. Green Courte is now the nation’s eighth largest owner of manufactured housing communities.

According to Green Courte’s Chairman, Randy Rowe, “Jim has been a significant contributor to the growth and success of Green Courte Partners. Jim has tremendous experience with a wide variety of real estate sectors and investment structures. Combined with his sound and conservative business judgment, Jim has become an invaluable asset to the firm, earning the trust and respect of our investors, partners and employees. I am confident that Jim will continue to make important contributions to Green Courte in the future.”

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 manufactured housing communities, “Main Street” retail/mixed-use properties and parking assets in high barrier locations, through transaction structures customized to achieve seller objectives. 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.

 

Green Courte Partners Named "Manufactured Home Community Operator of the Year" at the Manufactured Housing Institute's 2008 Congress & Expo for Manufactured and Modular Housing

Lake Forest, IL. April 20, 2009 - Green Courte Partners, LLC announced today that it was named “Manufactured Home Community Operator of the Year” at the Manufactured Housing Institute’s 2009 National Congress & Expo for Manufactured and Modular Housing. Award recipients are chosen by a group of manufactured housing industry leaders. 

The receipt of the 2009 Community Operator of the Year award marks the second consecutive win for Green Courte Partners and third consecutive win for the combined Green Courte Partners and American Land Lease management teams. With the closing of its merger with American Land Lease, Inc. in early March 2009, Green Courte Partners is now the eighth largest owner of residential land-lease home sites. Senior management of Green Courte Partners has a strong track record of success in the manufactured housing industry.

Commenting on the award, Randy Rowe, Chairman of Green Courte Partners, stated, “We are surprised and honored to have been recognized as Community Operator of the Year for a second consecutive year. In this challenging economic environment, the value of a highly-focused and motivated management team cannot be overstated. While we are proud of our accomplishments so far, we realize that there is much work still ahead to allow our enterprise to achieve its full potential.”

About Green Courte Partners, LLC

Green Courte Partners, LLC is a Chicago-based private equity investment firm focused primarily on manufactured housing communities, in-fill/“Main Street” retail properties, and parking assets, but will invest in any real estate asset or strategy that will generate attractive risk-adjusted returns over a long-term holding period. In March 2009, Green Courte completed its merger with American Land Lease, Inc. With the completion of the merger, the combined companies own 18,300 residential land-lease home sites located in 53 communities across 11 states.

Green Courte Partners Named "Manufactured Home Community Operator of the Year" for Second Consecutive Year

Lake Forest, IL. April 20, 2009 - Green Courte Partners, LLC announced today that it was named “Manufactured Home Community Operator of the Year” at the Manufactured Housing Institute’s 2009 National Congress & Expo for Manufactured and Modular Housing. Award recipients are chosen by a group of manufactured housing industry leaders. 

The receipt of the 2009 Community Operator of the Year award marks the second consecutive win for Green Courte Partners and third consecutive win for the combined Green Courte Partners and American Land Lease management teams. With the closing of its merger with American Land Lease, Inc. in early March 2009, Green Courte Partners is now the eighth largest owner of residential land-lease home sites. Senior management of Green Courte Partners has a strong track record of success in the manufactured housing industry.

Commenting on the award, Randy Rowe, Chairman of Green Courte Partners, stated, “We are surprised and honored to have been recognized as Community Operator of the Year for a second consecutive year. In this challenging economic environment, the value of a highly-focused and motivated management team cannot be overstated. While we are proud of our accomplishments so far, we realize that there is much work still ahead to allow our enterprise to achieve its full potential.”

About Green Courte Partners, LLC

Green Courte Partners, LLC is a Chicago-based private equity investment firm focused primarily on manufactured housing communities, in-fill/“Main Street” retail properties, and parking assets, but will invest in any real estate asset or strategy that will generate attractive risk-adjusted returns over a long-term holding period. In March 2009, Green Courte completed its merger with American Land Lease, Inc. With the completion of the merger, the combined companies own 18,300 residential land-lease home sites located in 53 communities across 11 states.

American Land Lease, Inc.'s Stockholders Approve Merger with Green Courte Partners

Clearwater, Florida, March 16, 2009 -- (Business Wire)—American Land Lease, Inc. ("ANL") today announced that its common stockholders approved the previously announced merger of an affiliate of Green Courte Partners, LLC, a Chicago-based private equity investment firm (such affiliate, "Green Courte Partners") with and into ANL at the special meeting of stockholders held today in Chicago, Illinois. The closing of the merger occurred following the special meeting. Each share of ANL’s 7.75% Series A Cumulative Redeemable Preferred Stock issued and outstanding immediately prior to the effective time of the merger will remain outstanding as a share of 7.75% Series A Cumulative Redeemable Preferred Stock of ANL having the same powers, rights and preferences. As a result of the merger, 100% the common stock of ANL is owned by an affiliate of Green Courte Partners, LLC. 

About Green Courte Partners

Green Courte Partners, LLC is a Chicago-based private equity real estate investment firm focused primarily on the ownership and operation of manufactured housing communities, retail and mixed-use properties, and parking assets. Green Courte Partners, LLC combines focused investment strategies with a disciplined approach to transaction execution and asset management with a goal of generating attractive risk-adjusted returns over a long-term holding period.

About ANL

American Land Lease, Inc. is a Clearwater, Florida-based real estate investment trust that owns, develops and manages residential land lease communities primarily serving active adults. With over 10,000 home sites in 30 communities located primarily in Florida, Arizona and Alabama, ANL is committed to providing affordable, free-spirited retirement living for active adults. For more information, visit www.AmericanLandLease.com.