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Home > Investing > Spotlight on REITs: Commercial Assets INC

Spotlight on REITs: Commercial Assets INC

Money Manager | Monday, February 13th, 2012

Commercial Assets INC: This real estate investment trust had specialized in commercial assets such as offices and mobile homes, it was later merged with Asset Investors Corporation, and the two companies joined together and created a new company named American Land Lease which specializes in mobile home communities and assets.

Commercial Assets was a publicly traded company, on the New York Stock Exchange as CAX.

Commercial Assets INC had acquired over $44 million dollars worth of assets in 1998, and also owned over 1,180 in land units ready to be developed and grown into new mobile home sites.

American Land Lease was a publicly traded company on the New York Stock Exchange until it was bought by Green Courte Partners LLC in 2008 for over $438 million dollars, one of the largest acquisitions the company has ever made, the acquisition was complete in 2009, in this Commercial Assets properties and assets were acquired by Green Courte Partners as well as all of the American Land Lease properties. Green Courte Partners LLC created a partnership in 2008 with Mark Scully to create a larger more diversified portfolio.

Green Courte Partners LLC is a privately traded company so the shares are not traded on the New York Stock Exchange. This company was founded in 2002 in Chicago this company deals with retail spaces, mobile home communities and parking spaces. It owns 16,200 mobile home units in over ten states. This company acquires only high quality properties and communities, as well as other commercial REIT’s.

Green Courte Partners LLC is now the total owner of most mobile home communities in the USA, under the umbrella of Green Courte Partners LLC mobile home tenants can rest assure that they are well taken care of, since the company prides its self in customer service and 24/7 management teams in every rental communities.

Green Courte Partners LLC also holds a 100% occupancy rate in their mobile home communities and retail business. This is an outstanding number for a company that owns as many properties as this one does. This means that the company does a good job at getting tenants as well as keeping them, creating a stable business plan.

Green Courte Partners LLC is the big fish in the commercial real estate investment trust business, it has bought and acquired its competition, and Commercial Assets INC was one of those smaller fish that it had acquired. The REIT business is a market that is hard to stay in as the market falls like it has in the past few years, Green Courte Partners hold a 100% occupancy rate in this economic time making it a very secure and safe business to invest in.

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