Green Courte Partners, LLC, a Chicago-based private equity investment
firm, today announced that one of its affiliates (such affiliate is
referred to as “Green Courte Partners”) has extended its previously
announced cash tender offer for all of the outstanding shares of common
stock of American Land Lease, Inc. (NYSE: ANL) until 5:00 p.m., New York
City time, on Thursday, February 5, 2009, unless further extended. The
tender offer was originally scheduled to expire at 12:00 midnight, New
York City time, at the end of Thursday, January 22, 2009 but certain of
the conditions for the closing of the tender offer remain pending. All
other terms and conditions of the tender offer remain unchanged.
The depositary for the tender offer has advised Green Courte Partners
and ANL that, as of the close of business, New York City time, on
January 22, 2009, a total of 6,877,694 shares of ANL’s common stock were
validly tendered and not withdrawn (none of which are subject to
guaranteed delivery procedures), representing approximately 85.5% of
ANL’s outstanding common stock.
ANL stockholders are entitled to receive $14.20 per share in cash for
each share of ANL’s common stock tendered in the tender offer, subject
to the terms and conditions of the tender offer and applicable
withholding taxes, without interest thereon.
ANL stockholders with questions about how to tender their shares may
call Innisfree M&A Incorporated, the Information Agent, toll-free at
888-750-5834 (banks and brokers may call collect at 212-750-5833).
About Green Courte Partners
Green Courte Partners, LLC is a Chicago-based private equity real estate
investment firm focused primarily on the ownership and operation of
manufactured housing communities, retail and mixed-use properties, and
parking assets. Green Courte Partners, LLC combines focused investment
strategies with a disciplined approach to transaction execution and
asset management with a goal of generating attractive risk-adjusted
returns over a long-term holding period. For more information visit www.GreenCourtePartners.com.
About ANL
American Land Lease, Inc. is a Clearwater, Florida-based real estate
investment trust that owns, develops and manages residential land lease
communities primarily serving active adults. With over 10,000 home sites
in 30 communities located primarily in Florida, Arizona and Alabama, ANL
is committed to providing affordable, free-spirited retirement living
for active adults.
