GreenCourte Partners, LLC (“Green Courte”), a private equity real estate investment firm focused on building industry-leading companies within niche real estate sectors, announced today that its fifth investment fund, Green Courte Real Estate Partners V, LLC, and its affiliates, acquired USAirport Parking (“USAP”), a near-airport parking facility serving Denver International Airport. The facility has 7,599 self-park spaces, including over 1,100 covered spaces, and will be managed by and rebranded as The Parking Spot.
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Jordan Kerger, Managing Director at Green Courte, stated, “USAP has been one of our top acquisition targets since we began investing in the near-airport parking industry in 2011. We identified USAP because of its strategic location and attractive product offering. Following the acquisition, we plan to enhance the property’s position as a premium facility by investing in significant capital improvements, including expansion of the facility’s covered parking options.”
Milt Rotenberg, Green Courte’s counterparty in the transaction, added, “Green Courte built a relationship with us over the past decade, demonstrating a deep understanding of our property, the Denver market, and the near-airport parking industry. They crafted a flexible transaction structure that met our needs and delivered exactly what they promised.”
About Green Courte Partners, LLCGreen Courte Partners, LLC is a Chicago-based private equity real estate investment firm focused on building industry-leading companies within niche real estate sectors. The firm has active investments in the following sectors: active-adult/independent senior living, land-lease communities, industrial outdoor storage, and near-airport parking. 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.
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SOURCE Green Courte Partners, LLC
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