Greenwich Capital Group LLC (“GCG”) is pleased to announce its role as the exclusive financial advisor to HomeFirst Certified Communities and affiliated entities (“HomeFirst”) on its sale to an affiliate of Green Courte Partners, LLC (“Green Courte”). This transaction adds to GCG’s extensive real estate advisory experience.
About the Transaction
HomeFirst, which is headquartered in Birmingham, Michigan, built a portfolio of eight high-quality, family land-lease communities located in Michigan and containing over 3,000 sites including expansion land. HomeFirst developed a vertically-integrated platform that offers marketing, sales, home financing, construction, home rental, home repair and community management services.
Green Courte 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. Concurrent with the acquisition, Green Courte’s fourth investment fund formed a new venture with the portfolio’s seller to own and operate the fund’s land-lease community investments, including HomeFirst’s operating platform.
“As we considered strategic alternatives, we wanted to find a partner that truly aligned with our culture and business model. It was critical that they understood our specific objectives and desire to structure a transaction that would result in an optimal outcome for our investors, our team and my family. GCG went above and beyond the scope of what we envisioned from an advisor, working with our team every step of the way throughout a very complex transaction. Our team is excited to have joined the Green Courte family and looks forward to growing the venture for years to come.” – Kenny Lipschutz, Founder of HomeFirst