|Acquired by||Green Courte Partners|
|Description||Real Estate Investment Trust|
American Land Lease, Inc., a real estate investment trust (REIT), engages in the ownership, development, expansion, management, financing and refinancing, acquisition, and disposition of residential land lease communities in the United States. It owns home sites that are leased to owners of homes situated on the leased land, and owns various amenities provided for common use by the homeowners. As of December 31, 2007, the company held interests as owner in 30 residential land lease communities that include a recreational vehicle park with an approximate total of 7,984 operational home sites; 1,370 developed home sites; 1,191 undeveloped home sites; and 129 recreational vehicle sites. Its portfolio of residential land lease communities is located in Florida, Arizona, and Alabama. The company has elected to be treated as a REIT under the Internal Revenue Code of 1986. As a REIT, it would not be subject to federal income tax, provided it distributes at least 90% of its taxable income to its shareholders.
American Land Lease, Inc. was founded in 1986 and is based in Clearwater, Florida. On February 23, 2009, American Land Lease Inc. was taken private, and in March 2009 Green Courte Partners, LLC, completed its acquisition of American Land Lease.