Chicago-based Green Courte Partners is considering the sale of The Parking Spot, an airport parking and shuttle service company, people with knowledge of the matter told Bloomberg.
The private equity firm is working with Eastdil Secured on an auction for the Parking Spot, which has 39 near-airport parking locations, serving 23 airports.
Green Courte, on behalf of its third fund, Green Courte Real Estate Partners III, acquired The Parking Spot in 2011, which at the time operated 17 parking properties serving 12 major airports. The Parking Spot managed a further 24 parking facilities in 12 major airports around the country. Green Courte has continued to invest in technology, strategically-located acquisitions and the company’s portfolio of existing assets to support its growth, according to the firm.
Green Courte is actively acquiring near-airport parking properties in major markets within the United States and Canada.
Details of the potential sale have not been finalized and Green Courte could still hold on to the business, according to unnamed sources. However, if it does reach the market, Green Courte expects it to garner interest from both infrastructure and real estate investment firms.
