Pionline reports the University of Michigan (UM) in Ann Arbor has committed $40 million of its $8 billion endowment to three alternative investment firms, one of which is Lake Forest, Ill.-based Green Courte Partners, LLC. Green Courte received $5 million in conjunction with The Parking Spot, a new real estate fund with a 40 percent stake in a portfolio of parking facilities at a dozen major airports nationwide. The remaining 60 percent of the parking lot portfolio belongs to Green Courte Real Estate Partners III, the recipient of $20 million previously committed by UM. As MHProNews knows, Green Courte has a portfolio of 50 land lease communities comprised of over 18,500 homesites. For a recent interview with Randy Rowe, founder and chairman of Green Courte, please click here.

(Image credit: Green Courte Partners, LLC)