Green Courte Partners, a private equity real estate investment firm, announced that its fifth investment fund, Green Courte Real Estate Partners V, and its affiliates acquired Chesapeake Bay, an active adult community with 348 apartments and cottages in Seabrook, Texas. This increases GCP’s national senior living portfolio, which is managed by the firm’s wholly owned operating platform, True Connection Communities, to 19 communities containing approximately 3,100 units. The community’s initial phase leased quickly and maintained strong occupancy, prompting the developer to add 90 cottages in late 2023 to meet market demand. GCP intends to continue acquiring and developing active adult communities to expand its portfolio.
PE Firm Acquires Active Adult Community in Texas
