Wessex Closes on Debt and Equity Financings for The Crossings at Harts Run in Glenshaw, PA

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Charleston, SC Wessex Capital Investments closed on the debt and equity financings for The Crossings at Harts Run in Glenshaw, PA. The 202,000 square foot community has a total project cost of $45,300,000. The Crossings at Harts Run will offer a total of 193 units for independent living, personal care and memory care on a 13.1 acre site. Construction is underway and the community is scheduled to open in early 2021.

The Crossings at Harts Run will be operated by Harmony Senior Services and will feature 85 independent living units, 68 assisted living units, and 40 memory care units. The site is located in the affluent Fox Chapel area, a suburb of Pittsburgh. The area is defined by strong home values and income and includes amenities such as Fox Chapel Golf Club and Pittsburgh Field Club. The Pittsburgh area is home to a large senior population; within the Primary Market Area, seniors aged 75+ represent 9.2% of the total population. The Crossings at Harts Run will be one of the only facilities in the market offering the full continuum of care from independent living, personal care, and memory care in one building with a month-to-month rental payment structure. The Facility will offer spacious living quarters for all care types, with one and two bedroom units comprising 74% of the total unit count.

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