Green Courte Partners closes fifth investment fund
Green Courte Partners has closed its fifth investment fund, Green Courte Real Estate Partners V (GCREP V), with total capital commitments of $540.8 million.
“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,” said David Lentz, GCP’s CEO.
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 r