Green Courte Partners LLC has closed its fifth real estate fund at $540.8 million. GCREP V will acquire up to $1.6 billion of niche real estate assets.
CHICAGO, Nov. 22, 2019 /PRNewswire/ — Green Courte Partners, LLC (“GCP”), a private equity real estate investment firm focused on building industry-leading companies within niche real estate sectors, announced today the closing of its fifth investment fund, Green Courte Real Estate Partners V, LLC (“GCREP V”), with total capital commitments of $540.8 million. GCREP V will employ institutional levels of leverage to acquire up to $1.6 billion of niche real estate assets, growing GCP’s robust land-lease community portfolio, continuing to build True Connection Communities, GCP’s senior living platform, and completing GCP’s investment in The Parking Spot, the nation’s largest owner and operator of near-airport parking facilities. GCP may also identify additional niche real estate sectors in which it can capitalize on its expertise to generate attractive risk-adjusted returns for its investors.
Regarding the fundraise for GCREP V, David Lentz, GCP’s Chief Executive Officer, commented, “We are pleased with the positive response from our loyal investor base, which led GCREP V to be oversubscribed and fully committed by its first closing. We remain focused on expanding GCP’s investment in our three active operating platforms and creating alpha for our investors.”
Randy Rowe, GCP’s Chairman, added, “We appreciate the continued trust and support that our investors have shown in our ability to successfully execute our targeted investment strategy of building and monetizing fully integrated operating platforms within niche real estate sectors.”
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.