CHICAGO, Oct. 20, 2021 /PRNewswire/ -- Green Courte Partners, LLC ("GCP"), a private equity real estate investment firm, announced today the acquisition of a portfolio of four land-lease communities comprising approximately 700 existing home sites in the greater Rochester, New York, area. The acquisition increases GCP's national land-lease community portfolio, which is internally managed by GCP's operating platform, Windward Communities, to 21 communities containing approximately 7,500 home sites, including approximately 1,900 home sites in the Rochester market. The acquisition also included vacant land adjacent to two of the communities that can accommodate approximately 120 additional home sites. GCP plans to upgrade the amenities at the communities and will implement an active home sales operation to bring in attractive new homes to fill the communities' large, inviting home sites.
Jordan Kerger, Managing Director at GCP, stated, "These communities are a great addition to our rapidly growing land-lease community portfolio and bolster our presence in New York's popular Finger Lakes region. Under Windward Communities' management, these communities will provide appealing and affordable housing to families and seniors in the area. We are aggressively pursuing opportunities to grow our land-lease community portfolio across the country and are pleased to expand our footprint in Rochester with this exceptional portfolio."
Tom Thomas, GCP's counterparty in the transaction, added, "Having developed and operated these communities for the past thirty years, I was highly focused on ensuring I could trust the next owner to continue offering high-quality housing to our residents. I am confident GCP will be an excellent steward of the communities for years to come. GCP was professional throughout the entire sale process, beginning with our first discussion and ultimately closing ahead of schedule at our agreed upon financial terms."
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 land-lease communities, near-airport parking facilities, and active adult/independent senior living properties. The firm combines focused investment strategies with a disciplined approach to transaction execution, operations, and asset management. GCP'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 GCP's website at www.GreenCourtePartners.com
SOURCE Green Courte Partners, LLC
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