Green Courte Partners, a Chicago-based private equity real estate investment firm focused on niche real estate sectors, announced that its fourth investment fund, Green Courte Real Estate Partners IV, has acquired Park n’ Jet, a near-airport parking operator serving Salt Lake City International Airport.
Prior to the transaction, Park n’ Jet leased and operated a site owned by Green Courte Real Estate Partners IV located adjacent to The Parking Spot Salt Lake City, another near-airport parking asset owned by the fund that contains approximately 3,650 spaces. Through the acquisition, Green Courte plans to consolidate the two adjacent properties into a single integrated parking facility comprising approximately 4,400 spaces across more than 40 acres. The combined operation will be managed by The Parking Spot.
The integration is expected to improve operational efficiency and increase customer capture by enabling access to the parking facility from either direction of travel, removing previous access constraints and improving convenience for travelers. Green Courte said the expanded footprint and consolidated operations position the property to accommodate growing airport demand while improving performance.
Park n’ Jet had been owned and operated by the Dalton family for more than 30 years. The transaction follows several years of collaboration between the Dalton family and Green Courte on the adjacent parking asset.
Green Courte invests in several niche real estate sectors, including active-adult and independent senior living communities, land-lease communities, industrial outdoor storage, and near-airport parking. The firm focuses on acquiring and scaling high-quality real estate assets to generate long-term, risk-adjusted returns.
KEY QUOTES
“This acquisition reflects our continued conviction in the near-airport parking sector and our commitment to scaling high-quality assets in strong growth markets. By consolidating this adjacent property, we are positioned to enhance operational performance and drive long-term value.”
Jordan Kerger, Managing Director at Green Courte Partners
“Our family has owned and operated Park n’ Jet for over 30 years, and we’ve worked closely with Green Courte for the last five years. Given our longstanding relationship and their reputation for disciplined execution, it was an easy decision to entrust the next chapter of the business to Green Courte.”
Liz Dalton, Counterparty in the Transaction With Green Courte Partners
