(MENAFN- PR Newswire)
CHICAGO, Sept. 30, 2024 /PRNewswire/ --
Green Courte Partners, LLC ("Green Courte"), a private equity Real estate investment firm focused on building industry-leading companies within niche real estate sectors, announced today that its sixth investment fund, Green Courte Real Estate Partners VI, LLC, and its affiliates, acquired 1191 North Foster Road, a well-located land development site in San Antonio, Texas, that is adjacent to a growing hub of logistics facilities.
Green Courte plans to develop the site into an industrial outdoor storage ("IOS") facility and then operate a portion of the property as managed truck storage and lease the remainder to IOS users on a triple-net basis. Construction is scheduled to be completed in the first half of 2025. The property will be managed by GCP Truck Storage Management, LLC ("GCP TSM"), Green Courte's wholly owned IOS operating platform.
Regarding the transaction, Jordan Kerger, Managing Director at Green Courte, stated, "This acquisition is a valuable addition to our expanding IOS portfolio. The property's attractive location in a strong and growing industrial submarket makes it an ideal site for executing our IOS strategy."
Currey Hall, Managing Director at Green Courte and President of GCP TSM, said, "We are excited to begin construction in the coming weeks and move forward with our business plan. The Foster Road location, which is less than a mile from an I-10 interchange, is ideal for logistics operators and stands out as one of the best in the market.
This site offers us the flexibility to meet demand by offering managed truck storage in addition to other IOS leasing options."
Matt McWilliams, the seller in the transaction, added, "We are pleased to have successfully completed a transaction with Green Courte. They were great to work with throughout the entire sale process and closed our transaction on time."
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 active-adult/independent senior living properties, land-lease communities, and industrial outdoor storage and near-airport parking facilities. 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 .
SOURCE Green Courte Partners, LLC
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