Chicago-based private equity real estate investment firm Green Courte Partners has closed its third fund, Green Courte Real Estate Partners III. The fund closed with $406.9 million in equity, and will focus on niche real estate, including land-lease communities and parking assets. Green Courte was founded in 2002.
Green Courte Partners, LLC (“Green Courte”), a private equity investment firm targeting niche real estate sectors, announced today the closing of its third investment fund, Green Courte Real Estate Partners III, LLC (“GCREP III”). This $406.9 million fund will employ institutional levels of leverage to invest in approximately $1.2 billion of niche real estate, including land-lease communities and parking assets. GCREP III will continue the strategies of the firm’s first two funds, Green Courte Real Estate Partners, LLC and Green Courte Real Estate Partners II, LLC, which to date have invested in over $1.1 billion of niche real estate investments.
Green Courte was founded in 2002 by Randall K. Rowe. Previously, Mr. Rowe held senior roles at several successful real estate investment and operating companies, including Chairman of Transwestern Investment Company, Chairman and Chief Executive Officer of Hometown America, as well as various senior positions with Equity Group Investments. Green Courte’s senior partner team includes: James R. Goldman, Vice Chairman and Chief Investment Officer; Robert S. Duncan, Managing Director, Retail Investments; Kelly L. Stonebraker, Managing Director, General Counsel; Stephen F. Douglass, Managing Director, Asset Management; Michael A. Tarkington, Managing Director, Chief Accounting Officer; David B. Lentz, Managing Director; Steven E. Ehrlich, Managing Director, Deputy General Counsel; Mark E. Scully, Managing Director; Randy L. Kotler, Managing Director; Jane E. Mody, Managing Director, Chief Financial Officer; Keith A. Bawolek, Managing Director, Parking Acquisitions; and Arthur A. Greenberg, Managing Director, Senior Tax Advisor.
Regarding the new fund, Mr. Rowe commented, “We are delighted to have completed the fundraising for GCREP III in this challenging market and are honored that almost all of our investors in the prior two funds have decided to invest in GCREP III. We are also pleased to have several new institutional investors join us in GCREP III. We look forward to investing the capital consistent with our niche real estate strategies and will work diligently to generate attractive, risk-adjusted returns for our investors.”
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. 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.