Charleston, SC – Wessex Capital Investments has successfully closed on the refinance of Harmony at Harbour View, a 167 unit independent living, assisted living and memory care facility located in Suffolk, VA. Harmony at Harbour View opened its doors to residents in August 2015. The facility is located in the Harbour View community, a high-end, planned unit development. Harbour View is a golf course community marked by high incomes in a live-work-play design.
Wessex secured the construction financing for its client to develop the building. In 2017, Wessex strategically partnered with a lender on the bridge refinance who has the ability to ultimately take the project to permanent financing through Fannie Mae. The refinance of Harmony at Harbour View with Fannie Mae capitalized on advantageous market conditions while enhancing returns to investors. The permanent loan secured for this deal is non-recourse with a low fixed interest rate.