Green Courte Partners Announces Completion of Subsequent Offering Period for American Land Lease, Inc. Tender Offer
February 23 2009 - 4:57PM
Business Wire
Green Courte Partners, LLC, a Chicago-based private equity
investment firm, today announced the completion of the subsequent
offering period relating to the tender offer by one of its
affiliates (such affiliate is referred to as �Green Courte
Partners�) for all outstanding shares of American Land Lease, Inc.
(�ANL�) at $14.20 per share, net to the seller in cash without
interest thereon.
The subsequent offering period expired at 5:00 p.m., New York
City time, on Friday, February 20, 2009. The depositary for the
tender offer has advised Green Courte Partners and ANL that, as of
the expiration of the subsequent offering period, a total of 81,559
shares of ANL�s common stock were validly tendered during the
subsequent offering period. Combined with shares tendered during
the initial offering period, a total of 7,428,685 shares (excluding
shares that had previously been tendered pursuant to guaranteed
delivery procedures and that were not actually delivered) of ANL�s
common stock were tendered pursuant to the offer, representing
approximately 92.4% of ANL�s outstanding common stock.
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.
Forward-looking statements
This press release includes certain forward-looking statements.
Any such forward-looking statements may involve risk and
uncertainties. These forward-looking statements appear throughout
the press release and include statements regarding the intent,
belief or current expectations of Green Courte Partners, including
statements concerning the plans of Green Courte Partners with
respect to its intention to complete its acquisition of ANL and
ANL�s intention to call a special meeting of its stockholders. Such
forward-looking statements are not guarantees of future performance
or events and involve risks and uncertainties. Actual results may
differ materially from those described in such forward-looking
statements as a result of various factors. Many of the factors that
will determine the outcome of the subject matter of this press
release are beyond the ability of Green Courte Partners to control
or predict. Green Courte Partners has no obligation to revise or
update any forward-looking statements, or to make any other
forward-looking statements, whether as a result of new information,
future events or otherwise.
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