Wessex Closes on Refinancing of Columbia, SC Senior Living Facility

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Charleston, SC Wessex Capital Investments has successfully closed on a bridge loan refinancing of Homestead at The Crossings located in Columbia, SC. Homestead at The Crossings is the latest project to enter the unique bridge refinancing program that Wessex established for its client. The program continues to provide valuable benefits to Wessex’s client; an early return of equity to investors which increases project returns, construction debt management, and strengthening their ability to continue their development pipeline. Wessex will continue to manage the asset for its client to achieve maximum investor returns.

Homestead at The Crossings is a new 109 unit independent living, assisted living, and memory care facility built on the existing campus of The Crossings at Columbia, an 87 unit assisted living and memory care facility that opened in April 2015. The two facilities, both managed by Harmony Senior Services, will provide a full continuum of care and will allow residents the ability to “age-in-place” on a single campus. The campus is located in the Northeast submarket of Columbia, an area highlighted by new residential and retail growth and is in close proximity to major hospitals. Homestead at The Crossings opened in June 2018.

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