American Land Lease, Inc. (“ANL”) today announced that its common
stockholders approved the previously announced merger of an affiliate of
Green Courte Partners, LLC, a Chicago-based private equity investment
firm (such affiliate, “Green Courte Partners”) with and into ANL at the
special meeting of stockholders held today in Chicago, Illinois. The
closing of the merger occurred following the special meeting. Each share
of ANL’s 7.75% Series A Cumulative Redeemable Preferred Stock issued and
outstanding immediately prior to the effective time of the merger will
remain outstanding as a share of 7.75% Series A Cumulative Redeemable
Preferred Stock of ANL having the same powers, rights and preferences.
As a result of the merger, 100% the common stock of ANL is owned by an
affiliate of Green Courte Partners, LLC.
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. For more information, visit www.americanlandlease.com.
American Land Lease, Inc.
Shannon E. Smith, 727-726-8868
Chief
Financial Officer
