Chesapeake Crossing, a 597-unit mixed-income senior housing community in Chesapeake, has been purchased by Los Angeles-based Standard Communities, the affordable housing division of Standard Companies.
The total capitalization of the transaction is approximately $68 million.
Located at 1921 Robert Hall Boulevard, Chesapeake Crossing will undergo a $7.5 million renovation that includes modernization upgrades to individual units, common areas, parking, the leasing office and courtyards.
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