Tuesday, April 16, 2024

The Parking Spot Expands Footprint at Philadelphia International Airport

CHICAGO, Aug. 3, 2023 /PRNewswire/ — The Parking Spot (“TPS”), the nation’s largest owner and operator of near-airport parking properties, announced today the acquisition by an affiliate of a second location serving the Philadelphia International Airport (“PHL”). The near-airport parking facility, known as Colonial Airport Parking (“Colonial”), has 1,349 self-park spaces. Colonial is located on the south side of PHL and will be rebranded as The Parking Spot South to complement TPS’s existing property on the north side of PHL. With this addition, TPS now operates 38 facilities at 22 airports containing more than 81,000 spaces. TPS is owned by an investment fund sponsored by Green Courte Partners, LLC (“GCP”).

Jordan Kerger, Managing Director at GCP, added, “We are pleased to expand our presence at PHL and add a location on the south side of the airport. We continue to seek opportunities to grow TPS nationally through our GCP-sponsored investment funds.”

Jed Hatfield, one of the prior owners of Colonial, added, “We’ve had a long-standing relationship with GCP. They approached us directly and were able to structure a transaction that accomplished our objectives. We were pleased with the timeline and outcome of the transaction.”

About The Parking Spot
As the nation’s largest near-airport parking company, with 38 convenient locations at 22 major U.S. airports, The Parking Spot makes airport travel simple and seamless. Friendly, courteous team members, outstanding value, an unmatched customer service commitment, and our industry-leading Spot Club loyalty program combine to ensure that The Parking Spot is the best part of our guests’ travel experience. For more information, please visit www.theparkingspot.com, or follow The Parking Spot on Twitter @theparkingspot, on Instagram @theparkingspotofficial, and on Facebook.

About Green Courte Partners, LLC
Green Courte Partners, LLC is a Chicago-based private equity real estate investment firm focused on building industry-leading companies within niche real estate sectors, including active adult/independent senior living properties, land-lease communities, and near-airport parking facilities. The firm combines focused investment strategies with a disciplined approach to transaction execution, operations, and asset management. Green Courte’s goal is to invest in high-quality real estate assets that will generate attractive risk-adjusted returns over a long-term holding period. For additional information, please visit Green Courte’s website at www.GreenCourtePartners.com.

SOURCE Green Courte Partners, LLC

Originally published at https://www.prnewswire.com/news-releases/the-parking-spot-expands-footprint-at-philadelphia-international-airport-301890952.html

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