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Posts Tagged ‘private equity’

Green Courte Appoints Scully Vice President

August 5th, 2013 Comments off

Private equity real estate firm Green Courte Partners, LLC announces the appointment of Cheri M. Scully to vice president. Scully has worked with Green Courte, based in Lake Forest, Illinois, on contract prior to joining the firm in January 2011 as an associate, MHProNews has learned from sources at the company. She will continue overseeing asset management at Steamboat Springs, Colorado. Green Courte’s holdings include 53 manufactured housing communities in eleven states comprised of 19,000 developed home sites.

(Photo credit: Green Courte Partners, LLC)

Green Courte Adds Two Communities to its Portfolio

July 31st, 2013 Comments off

Lake Forest, Ill.-based private equity real estate investment firm Green Courte Partners, LLC announces the acquisition of two all-age land lease communities in southern Maine. Incorporating 483 home sites, MHProNews has learned Town & Country Village in Lisbon and Maplewood Manor/Merry Meeting in New Brunswick will be managed by American Land Lease, Inc., a wholly-owned subsidiary of Green Courte. American Land Lease manages the manufactured housing community portfolio of Green Courte, which now includes 53 communities in eleven states comprised of 19,000 developed home sites.

(Photo credit: Green Courte Partners, LLC)

Green Courte Announces Promotion of Braden Rudolph

June 19th, 2013 Comments off

Private equity real estate investment firm Green Courte Partners, LLC announces the promotion of Braden Rudolph to Vice President, Asset Management. A 2010 MBA graduate of Northwestern University’s J L. Kellogg School of Management, Rudolph has been active in strategic initiatives at American Land Lease, Inc., an owner/operator of 50 manufactured housing communities comprised of 18,500 home sites. A Senior Associate with Green Courte since June 2011, he was also a principal in the company’s acquisition of The Parking Spot, a major player in near-airport parking facilities, as pehub.com informs MHProNews. Green Courte specializes in parking asset and land lease community investments.

(Image credit: Green Courte Partners, LLC)

Green Courte Promotes Rudolph

May 7th, 2013 Comments off

MarketWatch informs MHProNews private equity real estate investment firm Green Courte Partners, LLC announces the promotion of Braden L. Rudoph to the post of Vice President, Asset Management. A senior associate since June 2011, Rudolph has been involved in acquisitions and asset management, and was involved in the company purchase of The Parking Spot, an airport parking property with 35 locations and 60,000 spaces. Through American Land Lease, Inc., which merged with Green Courte in Dec., 2008, the company owns and operates 50 land lease communities with 18,500 homesites. Rudolph has a Masters of Business Administration from the J. L. Kellogg School of Management at Northwestern University in Evanston, Ill.

(Image credit: Green Courte Partners, LLC)

Green Courte Announces New VP

October 3rd, 2012 Comments off

PRNewswire tells MHProNews Green Courte Partners, LLC announces the appointment of Thru A. Shivakumar as Vice President, Acquisitions. While Ms. Shivakumar’s background is with parking facilities, and her focus will remain in that sector, her experience includes asset and portfolio management. Chicago-based Green Courte is a private-equity real estate investment firm specializing in manufactured home communities and parking assets.

(Image credit: Green Courte Partners, LLC)

Dodd-Frank not Likely to Vanish

September 11th, 2012 Comments off

BloombergBusinessWeek says while Republican presidential candidate Mitt Romney has vowed to repeal Dodd-Frank, it’s more likely he would water down some of the restrictions on the most lucrative and profitable investments while providing sufficient oversight to protect the banks. Specifically, banks would toss restrictions on investments in private equity and hedge funds, reduce the reach of the Consumer Federal Protection Bureau (CFPB), and block the Volcker Rule. MHProNews has learned Matthew Albrecht, an analyst with Standard & Poor’s, says the eight biggest U.S. banks could lose between $22 billion and $34 billion due to Dodd-Frank. Mark Calabria, a former Republican Senate aide, says, “From a bank’s perspective, you’d rather have piecemeal reform of Dodd-Frank, not only because there are things in the law you want to keep, but also because you’re going to have more control over the process.” Bank executives are aware of the public’s anger in its role in causing the recession and publicly may favor Dodd-Frank while their lawyers fight behind the front line to weaken the rules.

(Image credit: BloombergBusinessWeek)

Housing Summit Meets in ND

May 18th, 2012 Comments off

InForum says organizers of the Bakken Housing Summit in Williston, North Dakota are calling for 5,000 homes in western ND in the next 24 months to meet the demand for housing in this oil rich region. Real estate developer Michael Milner of Salt Lake City says, “Without federal interference, this will be one of the most significant economic opportunities this country has had in the last 50 to 100 years.” He says his company is building family homes in ND, but they are using private equity because credit through banks is tight. Over 350 attendees from 33 states heard discussion concerning lenders who see only a temporary boom, shortages of tradespeople, and difficulty of obtaining supplies. Clint Wilson of HybridCore Homes in CA compared the construction scene to building on the moon. Says Wilson, “If you haven’t brought it with you, you’re going to have a delay for trying to complete your project.” MHProNews.com has written several stories about housing in ND.

((Image credit: GlobalRegina)

Modular Apts. Rising for Temple U. Students

April 16th, 2012 Comments off

The Diamond Green Apartments being built in Philadelphia near the Temple University campus will be the largest modular project in the city. Built by Mosaic Development Partners, the 92 unit complex will be home to 350 students. The apartments are part of a larger $20 million mixed-use complex with retail on the first floor, funded by two banks, private equity, and the city’s Office of Housing and Community Development. Philly tells MHProNews.com With solar panels on the roof, this marks the first Philadelphia Housing Authority (PHA) project to be LEED Certified. Manufactured by Professional Building Systems of Middleburg, PA, the mostly four-bedroom, two-bath units with fixtures and furniture intact, and comprised of 106 modules, are being sited by crane. Construction is set to be complete Aug. 15 2012.

(Photo credit: Excel Homes)

Oil Boom Adds Jobs in Idaho

February 9th, 2012 Comments off

NorthCentralPA reports the Wall Street Journal says the Fleetwood Homes factory in Nampa, Idaho has increased production 25 percent since last fall to keep up with demand in the North Dakota oilfields for manufactured homes. Upon adding 40 employees, factory manager Jeff Chrisman says without this new demand he would be giving employees furloughs instead of overtime. “We’ve been able to bring back people that we hated losing a couple of years ago,” he says. The extra-insulated “Dakota” model has linoleum floors and rugged interiors made by this subsidiary of Cavco for oilfield workers who often spend days slogging in mud. MHProNews.com has learned it takes ten days to construct each home, and two homes are completed each day. The homes are then shipped 1000 miles east to ND’s Bakken oil field. Energy production is helping drive the economy, with U.S. private-equity energy deals having tripled 2010 to 2011, to $24.8 billion.

(Photo credit: Chris Butler/Idaho Statesman—Dolores Laredo at Fleetwood plant)