Green Courte Partners announced that its fifth investment fund, Green Courte Real Estate Partners V, LLC, and its affiliates acquired Chateaux at Mon Abri, Laurel Springs, and Grace Pointe Living, three active-adult senior cottage communities located in the Oklahoma City metropolitan area.
The portfolio contains 315 cottages and a 35-unit age-restricted apartment building. The acquisition increases GCP's national age-restricted housing portfolio, which is managed by the firm's wholly owned operating platform, True Connection Communities (TCC), to 17 communities with about 2,600 units.
“We are increasingly attracted to this transitional subset of the active-adult/senior housing sector based on our positive experience operating the cottage component of our existing portfolio, which is continually almost 100 percent occupied,” said Matt Pyzyk, managing director of acquisitions at GCP. “Age-restricted cottages are a unique type of rental housing that is designed for
