Green Courte Partners has acquired a parking facility serving Salt Lake City International Airport. No financial terms were disclosed.
CHICAGO, Sept. 17, 2020 /PRNewswire/ — Green Courte Partners, LLC, a private equity real estate investment firm and owner of The Parking Spot, the nation’s leading near-airport parking company, announced today the acquisition of an 869-space parking facility serving Salt Lake City International Airport (“SLC”). The property, which is currently leased to and operated by Park N’ Jet, is contiguous to The Parking Spot’s existing near-airport parking facility in the market. This acquisition expands Green Courte’s presence at SLC to 2,900 parking spaces and increases Green Courte’s near-airport parking portfolio to 38 facilities at 22 airports containing more than 77,000 spaces nationwide.
Jordan Kerger, Managing Director at Green Courte, stated, “We are pleased to expand our footprint at SLC, particularly given the property’s proximity and access to the airport, strategic positioning relative to our existing location, and Salt Lake City’s long-term growth prospects. With the recent closing of our fifth investment fund, totaling over $540 million in equity commitments, we continue to seek near-airport parking acquisition opportunities in our pursuit to aggregate well-located real estate near major U.S. airports.”
Ben Brasher, Green Courte’s counterparty in the transaction, added, “Green Courte has been a pleasure to work with and remained committed to closing the transaction despite the current economic challenges resulting from the COVID-19 pandemic.”
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.