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CHICAGO-Green Courte Partners and Next Realty have teamed to buy three off-airport parking facilities serving Bradley International Airport outside Hartford, CT for $26 million. An affiliate of Parking Company of America has a long-term triple-net lease on the properties, which have 5,300 parking spaces.

“The Hartford off-airport parking acquisition is consistent with our strategy of acquiring assets in niche sectors, such as parking, that have limited competition and offer steady growth potential,” says Green Courte Partners chairman Randy Rowe, whose investment company also targets manufactured housing communities.

Meanwhile, Bradley International Airport has grown to become New England’s No. 2 airport, with a second terminal and 12-gate concourse added in 2002.

“The acquisition not only provides stability through its triple-net lease structure, but also provides an opportunity to participate in the continued recovery of air travel through percentage rent,” says Next Realty managing principal Andrew Hochberg, whose company also favors shopping centers and retail land.

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