Wessex Capital Investments maintains a robust investment pipeline, and our regional operators are constantly seeking new opportunities in various markets. Currently, Wessex has investments in fourteen properties under development, and we are actively exploring opportunities in nearly a dozen additional markets in seven states across the Mid-Atlantic and Southeast. While the industry standard for buildings is twenty-five years old, Wessex typically invests in new construction projects with credit-worthy tenants, enabling us to enjoy value creation and risk mitigation with projects that are best in class, location and services.
Through a network of relationships and industry insight, we have been able to identify qualified local and regional tenants. We seek operators who possess local market knowledge, demonstrate hands-on management, have proven track records and emphasize patient care. These operators are often located in secondary markets, which generally have lower costs to build and favorable demographics.
The shift in demographics and desire for living choices for seniors has created growing demand across many markets in the independent living, assisting living and memory care space, and Wessex is poised to take advantage of this continued growth. Our projects are strengthening our operating partners’ positions in their local markets and reducing the average age of our portfolio.