Charleston, SC – Wessex Capital Investments has successfully closed on a bridge loan refinancing of The Crossings at Victory Station, a 176-unit facility in Murfreesboro, TN. The Crossings at Victory Station is the tenth project to enter the innovative $300M bridge loan refinancing program established by Wessex in 2017. The refinancing provides a return of equity to investors in the early stages of the project, thus increasing project returns. Other program benefits for Wessex’s client include construction debt management and strengthening their ability to continue their development pipeline. Wessex will continue to manage the asset to achieve maximum investor returns.
The Facility is located in the City of Murfreesboro, which has a high growth rate of population aged 75+. This segment of the population is growing at 4.53% every year in the PMA, one of the highest rates in the state of Tennessee. With close proximity to retail, churches and area attractions, the Facility offers residents fine dining with an on-site chef, numerous recreational amenities including a movie theater and pub, 24-hour concierge service, and 24/7 personal care.