{"id":1003921422,"date":"2008-12-10T12:00:00","date_gmt":"2008-12-10T20:00:00","guid":{"rendered":"https:\/\/64.70.41.235\/2008\/12\/10\/green-courte-takes-american-land-lease-reit-private-for-438m\/"},"modified":"2022-12-06T09:02:16","modified_gmt":"2022-12-06T17:02:16","slug":"green-courte-takes-american-land-lease-reit-private-for-438m","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/green-courte-takes-american-land-lease-reit-private-for-438m\/","title":{"rendered":"Green Courte Takes American Land Lease REIT Private for $438M"},"content":{"rendered":"

American Land Lease Inc., a Clearwater, Fla.-based real estate investment trust, has agreed to a $438 million buyout offer tendered by Green Courte Partners L.L.C., a Chicago-based private equity investment firm. The price, which includes the assumption of debt and preferred stock, works out to $14.20 per share, a $2.00 or 16.6 percent premium over this morning\u2019s $12.00 opening price. The transaction will occur in two steps beginning with a cash tender offer by Green Courte for all outstanding shares of ANL\u2019s common stock. The second step is a cash-out merger in which ANL shares not acquired in the offer will be converted into the right to receive same cash price per share. The merger is not contingent upon the success of the tender offer. In connection with the transaction, the limited partners of Asset Investors Operating Partnership L.P., ANL\u2019s operating partnership, will be entitled to receive $14.20 for each of their limited partnership or OP units.American Land Lease develops resort-style communities for active adults and owns more than 7,500 home sites in more than 30 communities throughout the U.S. Green Courte Partners specializes in owning and operating manufactured housing communities, retail and mixed-use properties and parking assets.<\/p>\n","protected":false},"excerpt":{"rendered":"

American Land Lease Inc., a Clearwater, Fla.-based real estate investment trust, has agreed to a $438 million buyout offer tendered by Green Courte Partners L.L.C., a Chicago-based private equity investment firm. The price, which includes the assumption of debt and preferred stock, works out to $14.20 per share, a $2.00 or 16.6 percent premium over…<\/p>\n","protected":false},"author":1314,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[37301],"tags":[],"class_list":["post-1003921422","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"acf":[],"yoast_head":"\nGreen Courte Takes American Land Lease REIT Private for $438M - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/green-courte-takes-american-land-lease-reit-private-for-438m\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Green Courte Takes American Land Lease REIT Private for $438M\" \/>\n<meta property=\"og:description\" content=\"American Land Lease Inc., a Clearwater, Fla.-based real estate investment trust, has agreed to a $438 million buyout offer tendered by Green Courte Partners L.L.C., a Chicago-based private equity investment firm. The price, which includes the assumption of debt and preferred stock, works out to $14.20 per share, a $2.00 or 16.6 percent premium over…\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/green-courte-takes-american-land-lease-reit-private-for-438m\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2008-12-10T20:00:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-06T17:02:16+00:00\" \/>\n<meta name=\"author\" content=\"the Editors of Commercial Property Executive\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/green-courte-takes-american-land-lease-reit-private-for-438m\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/green-courte-takes-american-land-lease-reit-private-for-438m\\\/\"},\"author\":{\"name\":\"the Editors of Commercial Property Executive\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/1d2a393e4a57d6d45707374e94ab4fef\"},\"headline\":\"Green Courte Takes American Land Lease REIT Private for $438M\",\"datePublished\":\"2008-12-10T20:00:00+00:00\",\"dateModified\":\"2022-12-06T17:02:16+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/green-courte-takes-american-land-lease-reit-private-for-438m\\\/\"},\"wordCount\":209,\"commentCount\":0,\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/green-courte-takes-american-land-lease-reit-private-for-438m\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/green-courte-takes-american-land-lease-reit-private-for-438m\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/green-courte-takes-american-land-lease-reit-private-for-438m\\\/\",\"name\":\"Green Courte Takes American Land Lease REIT Private for $438M - 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