Tag Archives for: Green Courte Partners

Green Courte Partners, LLC: The Parking Spot opens a newly developed location at Salt Lake City International Airport

February 19, 2019

Green Courte Partners, LLC: The Parking Spot opens a newly developed location at Salt Lake City International Airport

CHICAGO, IL (February 19, 2019) – The Parking Spot, the nation’s largest owner and operator of near-airport parking facilities, is pleased to celebrate the grand opening of its brand-new location directly adjacent to Salt Lake City International Airport (“SLC”). Visitors to SLC can now take advantage of an affordable, well-located parking option with The Parking Spot’s acclaimed customer service. The property currently offers approximately 2,000 covered and uncovered spaces with capacity to expand to 3,500 total spaces.

The SLC property represents The Parking Spot’s third completed development in the past three years, including a new facility at Charlotte Douglas International Airport (opened in April 2018) and a second location at Austin-Bergstrom International Airport (opened in February 2017). The Parking Spot also expanded its presence at Dallas Love Field in 2018 with the addition of Best Parking, which is located adjacent to the airport entrance.

“We are very excited to introduce travelers at SLC to The Parking Spot,” said Jordan Kerger, Managing Director at Green Courte Partners, LLC, which owns The Parking Spot through its private equity funds. “The airport is experiencing tremendous growth and we are always on the lookout for opportunities to expand The Parking Spot’s footprint to dynamic markets like Salt Lake City.”

Stephen Bamberger, Green Courte’s counterparty in the SLC transaction, which was structured as a long-term lease with a purchase option, stated, “It was a pleasure to work with Green Courte. In what proved to be a complex transaction, the Green Courte team worked tirelessly to create a structure that accomplished our financial objectives.”

For more information and to make reservations, visit The Parking Spot’s website.

About Green Courte Partners, LLC

Green Courte Partners, LLC is a Chicago-based private equity real estate investment firm focused on building industry-leading companies within niche real estate sectors, including near-airport parking facilities, land-lease communities, and active adult/independent senior living properties. 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.

The Parking Spot to build near-airport parking facility in Salt Lake City with Associated Bank loan

October 17, 2018

The Parking Spot to build near-airport parking facility in Salt Lake City with Associated Bank loan

CHICAGO – October 17, 2018 – Associated Bank announces the completion of a construction loan to an affiliate of Green Courte Partners, LLC and The Parking Spot. The company is constructing 3,144 covered and uncovered parking spaces at 2255 West North Temple Street, Salt Lake City, near the entrance to Salt Lake City International Airport (SLC). The new parking facility will offer convenient and affordable short- and long-term parking for business and leisure customers traveling from the Salt Lake City / Provo / Ogden, Utah region and is expected to be open for business around the end of the year.

Since 1998, Chicago-based The Parking Spot has been a leading national provider of near-airport parking, with 39 properties and over 73,000 parking spaces located near 22 major U.S. airports in 15 states. The Parking Spot is owned by an affiliate of Green Courte Partners, a real estate private equity fund manager that actively invests in niche real estate asset classes, with an emphasis on near-airport parking, active adult/independent senior living and land-lease communities across the U.S.

Senior Vice President Edward (Ted) Notz of the Commercial Real Estate division of Associated Bank managed the loan and closing.

Headquartered in Chicago, Associated Bank’s Commercial Real Estate division is committed to providing commercial real estate developers/owners/operators with an array of financing solutions, in addition to products and services that meet their unique needs. Associated’s Commercial Real Estate division has offices in Illinois, Indiana, Michigan, Minnesota, Missouri, Ohio, Texas and Wisconsin.

ABOUT ASSOCIATED BANC-CORP

Associated Banc-Corp (NYSE: ASB) has total assets of $34 billion and is one of the top 50 publicly traded U.S. bank holding companies. Headquartered in Green Bay, Wisconsin, Associated is a leading Midwest banking franchise, offering a full range of financial products and services from over 200 banking locations serving more than 100 communities throughout Wisconsin, Illinois and Minnesota, and commercial financial services in Indiana, Michigan, Missouri, Ohio and Texas. Associated Bank, N.A. is an Equal Housing Lender, Equal Opportunity Lender and Member FDIC. More information about Associated Banc-Corp is available at www.associatedbank.com.

Green Courte Partners: The Parking Spot expands near Dallas Love Field Airport

October 02, 2018

The Parking Spot expands near Dallas Love Field Airport

The company takes over operation of Best Parking and merges it with The Parking Spot 1

Chicago, Illinois, October 2, 2018 – The Parking Spot, the nation’s largest owner and operator of near-airport parking facilities, announced today the expansion of The Parking Spot 1 at Dallas Love Field Airport. The Parking Spot 1, located at 6900 Cedar Springs Road, added 632 covered parking spaces by taking over operation of the adjacent facility, formerly known as Best Parking. The expanded facility will now contain over 2,700 covered parking spaces.

“We are pleased to expand our presence at Dallas Love Field Airport,” said Jordan Kerger, Managing Director at Green Courte Partners, LLC, which owns The Parking Spot through its private equity funds. “We are constantly evaluating opportunities to expand The Parking Spot’s portfolio in both new and existing markets.”

The Parking Spot is eager to introduce Best Parking’s customers to The Parking Spot’s world-class customer service and parking amenities. These amenities include continuous shuttle service to and from Dallas Love Field Airport, the Spot Club loyalty program, and The Parking Spot’s free mobile app, which allows users to manage their entire airport parking experience from a mobile device.

For more information on The Parking Spot, its amenities, and its service at Dallas Love Field Airport, please visit www.theparkingspot.com.

About Green Courte Partners, LLC

Green Courte Partners Promotes Bill Glascott to Chief Investment Officer

October 01, 2018

Green Courte Partners Promotes Bill Glascott to Chief Investment Officer

Chicago, Illinois, October 1, 2018 – Green Courte Partners, LLC, a private equity real estate investment firm focused on building industry-leading companies within niche real estate sectors, announced the promotion of Bill Glascott to Chief Investment Officer. In this position, Mr. Glascott, who is already on the firm’s management committee, will assume an expanded role related to strategic planning and investment activities while continuing to oversee all acquisitions efforts.

Mr. Glascott joined Green Courte in February 2012 as a Managing Director focused on land-lease community acquisitions. In January 2015, Mr. Glascott was promoted to Head of Acquisitions and subsequently to Deputy Chief Investment Officer in March 2018. Prior to joining Green Courte, Mr. Glascott was a Vice President of Acquisitions at Hometown America, L.L.C., one of the nation’s largest owner/operators of land-lease communities. Mr. Glascott has a Bachelor of Science in Economics from the Wharton School of Business at the University of Pennsylvania and holds the Chartered Financial Analyst designation.

Randy Rowe, Chairman of Green Courte, stated, “I am pleased to elevate Bill into the role of Chief Investment Officer. I’ve known and worked with him over the course of the last eighteen years, and since joining us at GCP, Bill has been a major driver of our acquisitions and growth. In this expanded role, I am confident he will provide thoughtful and diligent leadership to our investment activities.”

David Lentz, Green Courte’s Chief Executive Officer, added, “I’ve known Bill for fifteen years and was excited when he joined our team in 2012. In addition to leading our acquisitions activities, Bill has made significant contributions to our senior leadership team and will be a key contributor to our future vision and execution.”

About Green Courte Partners, LLC

Green Courte Partners, LLC is a Chicago-based private equity real estate investment firm focused on building industry-leading companies within niche real estate sectors, including land-lease communities, near-airport parking facilities, and active adult/independent senior living properties. 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.

The Parking Spot Expands into Four New Locations in 2015

March 16, 2016

The Parking Spot Expands into Four New Locations in 2015

Chicago, Illinois – March 16, 2016 – The Parking Spot (“TPS” or the “Company”), the nation’s largest owner and operator of near-airport parking properties, announced today its 2015 additions. With these additions The Parking Spot now operates 37 near-airport properties, containing over 65,000 parking spaces, serving 21 U.S. airports. The Parking Spot is owned by an investment fund sponsored by Green Courte Partners, LLC.

The Company’s 2015 transactions include the following:

Baltimore-Washington International Airport (“BWI”) – TPS commenced operation of a 1,502-space near-airport parking facility on February 1, 2015. The property, located outside of the main entrance to BWI, represents the first TPS investment in the strategically important Baltimore-Washington MSA.

George Bush Intercontinental Airport (“IAH”) – TPS added to its three existing operations at IAH with the acquisition of a 1,595-space facility on August 14, 2015. The acquisition will increase the scale of the adjacent TPS operation to a total of approximately 3,150 spaces, and includes excess land with capacity for over 1,600 additional spaces.

Lambert-St. Louis International Airport (“STL”) – TPS added its fourth location at STL with the acquisition of a 1,758-space garage and surface parking facility on August 20, 2015. The property enhances the Company’s operating efficiencies in the market and allows TPS to better serve customers approaching the airport from the southeast.

Philadelphia International Airport (“PHL”) – TPS took over operations at a second location at PHL on November 18, 2015. The 1,350-space facility, which has capacity to expand to over 2,200 spaces, will undergo extensive improvements providing both covered and uncovered parking options.

Commenting on the transactions, Kevin Shrier, President and Chief Executive Officer of TPS, stated, “We are pleased to continue to grow our customer-focused near-airport parking business by expanding into new markets while strengthening our presence in existing markets. Since Green Courte’s acquisition of The Parking Spot in 2011, our portfolio has doubled in size, solidifying our position as the premier owner and operator of near-airport parking in the U.S. We are optimistic about opportunities for the continued growth of our portfolio.”

Daniel Medve, the Vice President of the former ownership of the Company’s new St. Louis facility, added, “It was a pleasure working with Green Courte and The Parking Spot on the sale of Park Express. Green Courte is a creative, flexible buyer that worked hard to meet the unique priorities we had set for the sale of our property. The transaction went very smoothly and closed on time and per the agreed upon terms.”

Commenting on Green Courte’s investment goals, Jordan Kerger, Managing Director at Green Courte, stated, “We continue to aggressively pursue opportunities to grow The Parking Spot nationally through Green Courte-sponsored funds, which have sufficient capital to acquire over $1 billion of additional assets. Our unique capital base enables us to employ creative transaction structures (e.g., tax deferral, joint venture, etc.) that meet the needs of a variety of sellers as well as our investors.”

About The Parking Spot
As the leading near-airport parking company in the nation, The Parking Spot provides full service parking at 37 parking facilities located at 21 major U.S. airports. The Parking Spot provides an exceptional customer experience and offers continuous and friendly shuttle service, the ability to earn free parking with The Spot Club loyalty program, luggage assistance, complimentary newspaper and chilled bottled water. For more information on The Parking Spot or a list of all locations, please visit the Company’s website at www.TheParkingSpot.com.

About Green Courte Partners, LLC
Green Courte Partners, LLC is a Chicago-based real estate private equity investment firm focused on building industry-leading companies within niche real estate sectors, including parking and specialty housing assets. The firm combines focused investment strategies with a disciplined approach to transaction execution 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.

For media inquiries, please contact Marnie Helfand at
(312) 966-4747 or MarnieHelfand@GreenCourtePartners.com

For airport parking acquisition inquiries, please contact Jordan Kerger at
(312) 966-3828 or JordanKerger@GreenCourtePartners.com