Charleston, SC – Wessex Capital Investments is pleased to announce the purchase of Harmony at State College, a 112-unit assisted living and memory care facility located in State College, PA that began serving residents in August 2019. Wessex’s strategic relationship with its client allowed them to manage Harmony at State College since its inception; from construction debt and equity financing through bridge loan refinancing and acquisition.
Wessex formed a strategic relationship that allows them to manage assets for its client from construction debt and equity financing, to bridge loan refinancing, and ultimately permanent financing. The bridge loan secured for this deal provided the financing to purchase the asset from a private equity group. Wessex secured the debt with attractive terms, a low fixed interest rate and long-term amortization, thus creating value for the investors.