5301 Wilbarger
Green Courte Partners, a private equity real estate investment firm focused on building industry-leading companies within niche real estate sectors, announced on Thursday that it had acquired a 40-acre industrial outdoor storage property at 5301 Wilbarger in southeast Fort Worth.
The company said it intends to operate the property as managed truck storage. The acquisition marks GCP's entrance into the industrial outdoor storage sector and launch of its truck storage operating platform.
“We are thrilled to enter the IOS sector through this strategic acquisition,” said Jordan Kerger, managing director at GCP, in a statement. “Consistent with our investments in near-airport parking, land-lease communities, and senior living, we have built a fully integrated operating platform to enhance the value of our real estate and better position us for a wide range of transaction opportunities.”
GCP's truck storage operating platform, GCP Truck Storage Management, will be led by Currey Hall, who is a founder and the former president of Vantage Truck Parking.
The seller was TH Logistics Fund I, a joint venture between Timber Hill Group, a private equity firm specializing in logistics related industrial real estate, and Champion Realty Advisors of Chicago.
“GCP approached us directly regarding the sale of our property,” said JD Salazar, Champion CEO, representing TH Logistics Fund I. “GCP and our team worked together to find creative solutions that allowed us to close on the terms to which we had originally agreed.”