Green Courte Partners has closed its second real estate investment fund, Green Courte Real Estate Partners II, on $262.5 million (€185.3 million). With leverage, the fund has a purchasing power of $800 million.
Most of the limited partners invested in the first fund, according to the firm.
The firm’s debut fund, Green Courte Real Estate Partners, currently has more than $500 million of real estate investments. The fund closed in 2004 with $120.5 million in equity commitments.
The follow-on fund will pursue the same strategy by targeting manufactured housing communities, retail and mixed-use properties and parking assets, said James Goldman, managing director and chief investment officer at the firm.
Green Courte was founded in 2002 by Randall Rowe, former chairman of Transwestern Investment Company and Transwestern Commercial Services.