Green Courte Partners has acquired Highland Manor, a 382-site all-age community in Independence, Missouri. No financial terms were disclosed.
CHICAGO, Feb. 18, 2020 /PRNewswire/ — Green Courte Partners, LLC (“GCP”) announced today that its fourth investment fund, Green Courte Real Estate Partners IV, LLC and its affiliates, acquired its eleventh land-lease community, Highland Manor, a 382-site all-age community located in Independence, Missouri, approximately 13.5 miles east of Kansas City.
GCP plans to increase occupancy and stabilize the community by investing in new home inventory, amenities, and other capital improvements and by implementing a robust marketing and sales operation led by GCP’s in-house, national land-lease community management platform.
Bill Glascott, GCP’s Chief Investment Officer, said, “Highland Manor is the fourth land-lease community that we have acquired from this seller since 2005. We specialize in creating custom transaction structures tailored to meet sellers’ unique needs, and we are especially proud of the credibility we have established with our many longstanding relationships in this industry.”
Chuck Crook, Chief Operating Officer of GCP’s land-lease community operating company, added, “Highland Manor is well located in a growing market and offers an attractive housing option and a compelling value for working families. We are excited to expand our portfolio with a second land-lease community in the Kansas City market.”
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