Green Courte Partners Acquires Manufactured Housing Community in Florida

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

Green Courte Partners Names Marnie C. Helfand Managing Director, Jordan T. Kerger and Tom E. Jasica Vice Presidents

Lake Forest, Illinois, March 1, 2012 – Green Courte Partners, LLC ("Green Courte"), a private equity real estate investment firm targeting niche real estate sectors, announced today the promotions of Marnie C. Helfand to Managing Director as well as Jordan T. Kerger and Tom E. Jasica to Vice President.

As a Managing Director, Ms. Helfand will lead Green Courte’s Capital Markets and Investor Relations group. Ms. Helfand joined Green Courte as a Senior Associate in June 2008 and was promoted to Vice President, Capital Markets in December 2009. She has contributed to the financing or refinancing of the firm’s major acquisitions including The Parking Spot in December 2011 and American Land Lease, Inc. in February 2009. In addition, Ms. Helfand has participated in all aspects of Green Courte’s investor relations and fundraising efforts, including its recently closed third fund, Green Courte Real Estate Partners III, LLC, which closed on September 15, 2011 with $406.9 million of capital commitments.

Prior to joining Green Courte, Ms. Helfand spent three years with Countrywide Commercial Real Estate Finance as an Assistant Vice President in loan originations and two years as a Senior Associate with Prudential Mortgage Capital Company. Ms. Helfand graduated from Northwestern University in 2003 with a Bachelor of Arts in Economics and Applied Mathematics.

Jordan T. Kerger joined Green Courte as an Associate in March 2008 and was promoted to Senior Associate in July 2010. Since joining Green Courte, Mr. Kerger has been involved in all aspects of Green Courte’s acquisitions efforts, most recently focusing on acquisitions within the "near-airport" and urban parking sectors. Mr. Kerger was actively involved in Green Courte’s acquisitions of The Parking Spot and American Land Lease, Inc. As a Vice President, Mr. Kerger will continue his involvement in the firm’s acquisitions efforts and assume greater responsibility for managing the day-to-day activities of the firm’s acquisitions personnel. Mr. Kerger graduated from DePaul University in 2008 with a Bachelor of Science in Commerce.

Tom E. Jasica joined Green Courte as a Portfolio Controller in November 2010. Since joining the firm, Mr. Jasica has focused his efforts primarily on accounting and financial reporting for Green Courte’s land-lease community portfolio. As a Vice President, Mr. Jasica will have increased responsibilities related to the management of fund-level financial reporting and forecasting. Mr. Jasica will also have a leadership role in Green Courte’s ongoing reporting systems enhancement initiatives. Mr. Jasica graduated from the University of Illinois at Urbana-Champaign in 1999 with a Bachelor of Science in Accountancy.

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 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

Green Courte Partners Names William Glascott Managing Director, Manufactured Housing Community Acquisitions

Lake Forest, Illinois, February 23, 2012 – Green Courte Partners, LLC (“Green Courte”) announced today that Bill Glascott has joined the firm as Managing Director, with responsibility for leading Green Courte’s manufactured housing community (“land-lease community”) acquisition activities.

Mr. Glascott joins Green Courte after spending the past twelve years with Hometown America, L.L.C. (“Hometown”), which Green Courte Partners Chairman Randy Rowe co-founded in 1997 while he was Chairman of Transwestern Investment Company. Mr. Glascott joined Randy at Hometown early in its evolution and gained valuable experience helping it grow into one of the nation’s largest private owners of land-lease communities. He was responsible for the acquisition of over $620 million of land-lease communities during his tenure at Hometown and was involved in some of the most notable portfolio transactions in the industry, including Hometown’s acquisition of Chateau Communities. Mr. Glascott has an extensive network of contacts within the manufactured housing community industry and has demonstrated success in sourcing and closing acquisitions.

Commenting on Mr. Glascott’s appointment, Mr. Rowe said, “I am extremely gratified to announce that we have added Bill to our existing efforts to acquire high-quality land-lease communities. I was Chairman when Bill joined Hometown in 2000 and I have watched Bill develop into one of the industry’s top investment professionals. We are confident that Bill’s talents will make a significant contribution to the firm’s success.”

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 and parking assets. Green Courte, directly and through its wholly-owned subsidiary, American Land Lease, Inc., owns approximately 18,200 land-lease home sites in 49 communities located in ten states. 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 Acquires Avenue of the Arts Parking Garage in Philadelphia

Lake Forest, Illinois, January 4, 2012 – Green Courte Partners, LLC, a private equity investment firm targeting niche real estate sectors, such as parking garages and lots, announced today the acquisition of the Avenue of the Arts Parking Garage (the “Garage”), located in the heart of the Arts District in downtown Philadelphia, Pennsylvania.

The Garage is a ten-level, 668-space, self-park parking garage with 17,272 square feet of ground level retail that is currently 100% occupied by Starbucks Coffee Company, Buca di Beppo, an Italian restaurant owned by Planet Hollywood, and Fox and Hound, a sports/entertainment restaurant owned by a Kansas-based operator. Located at the intersection of 15th and Spruce Streets, the Garage is conveniently located near multiple office, cultural, and retail/restaurant destinations as well as several nearby apartment towers. As the closest major parking garage to Philadelphia’s renowned Kimmel Center for the Performing Arts, the Garage serves as the primary parking facility for all events that take place at that venue. 

Commenting on the acquisition, Randy Rowe, Chairman of Green Courte Partners, LLC, stated, “The Avenue of the Arts Garage is one of the premier self-parking parking garages in Philadelphia. We have long targeted a parking investment in Philadelphia as the city’s strong and diversified economy makes it one the nation’s top parking markets. With the Garage’s location near The Kimmel Center for the Performing Arts, we have acquired a property which has multiple demand generators driving utilization at all times of the day and throughout the week.”

Mr. Rowe continued, “With this acquisition, we now own 19 parking properties representing more than 38,000 parking spaces around the nation. We believe that the next several years will present a continuing opportunity to acquire strong CBD and near-airport parking properties and our team is dedicated to achieving success within our parking strategy.”

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 parking assets and land-lease/manufactured housing communities. 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.