Green Courte Grows Land-Lease Portfolio with MI Deal
Green Courte Partners has acquired a portfolio of eight land-lease communities in Michigan containing 2,906 sites. Financial terms weren’t disclosed. The acquisition from Michigan-based Kenny Lipschutz was made through Green Courte’s fourth investment fund, Green Courte Real Estate Partners IV.
Concurrent with the sale, Green Courte formed a venture with the seller to own and operate the fund’s land-lease community investments.
“This acquisition represents a significant step forward in the evolution of our land-lease community portfolio,” said Bill Glasscott, Chicago-based Green Courte’s CIO.
‘Along with acquiring some of the highest quality assets in Michigan, we will be able to leverage the operating capabilities and sales and marketing machine our partner has established over the past 25 years in the industry.”
Glasscott added that the company continues “to actively pursue opportunities to deploy capital from GCREP IV into manufactured housing assets, as we build out a national land-lease community operating platform.”
Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces.
Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications.
Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).
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