CHICAGO, Oct. 22, 2024 ~ Green Courte Partners, LLC, a private equity real estate investment firm, has announced the acquisition of USAirport Parking (USAP) by its fifth investment fund, Green Courte Real Estate Partners V, LLC. The near-airport parking facility, located near Denver International Airport, boasts 7,599 self-park spaces and over 1,100 covered spaces. The facility will now be managed and rebranded as The Parking Spot.

According to Jordan Kerger, Managing Director at Green Courte, USAP has been a top target for the company since they began investing in the near-airport parking industry in 2011. The strategic location and attractive product offering of USAP were key factors in the decision to acquire the facility. Kerger also stated that following the acquisition, Green Courte plans to make significant capital improvements to enhance the property's position as a premium facility. This includes expanding the covered parking options.

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Milt Rotenberg, Green Courte's counterparty in the transaction, expressed his satisfaction with the deal. He noted that over the past decade, Green Courte has built a strong relationship with them and demonstrated a deep understanding of their property, the Denver market, and the near-airport parking industry. Rotenberg also praised Green Courte for crafting a flexible transaction structure that met their needs and delivered on their promises.

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