CBRE handled the sale of Chesapeake Bay, an active adult community with 348 apartments and cottages in Seabrook, Texas. 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.
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 the community. The seller was a private real estate investment firm. Port-acquisition, the community will be managed by True Connection Communities, GCP’s wholly-owned seniors housing operating company. John Sweeny, Aron Will and Garrett Sacco handled the transaction.
