Wessex Capital Investments is pleased to announce the purchase of The Crossings at Riverchase, a 199-unit Independent Living, Assisted Living and Memory Care community located in the affluent Hoover suburb of Birmingham, Alabama. The community, which first opened its doors in in early 2022, is managed by Greenbrier Senior Living, an experienced operator who manages two other Wessex communities in the State. Greenbrier’s headquarters are located 15 minutes away from The Crossings at Riverchase, underscoring their familiarity with the market and their ability to leverage local resources. The community’s success is also attributable to favorable demographics for senior living and CON regulations for memory care beds.

This is the first purchase Wessex has executed for its client in 2024, preceded by seven purchases in 2023. Wessex has been and will continue to be the asset manager for this project, from securing the construction debt to eventual placement with permanent financing. The purchase allows the client to wholly-own the real estate which enhances the project’s cash flows via reduced rent expense.