Charleston, SC – Wessex Capital Investments is pleased to announce the purchase of The Crossings on the Peninsula, a 104 unit assisted living and memory care facility located in Yorktown, VA.
This is the third purchase in less than a year that Wessex has executed for its client. Wessex formed a strategic relationship with the client that allows them to manage assets from construction debt and equity financing, to bridge loan refinancing, and ultimately permanent financing. The permanent loan secured for this deal provided the financing to purchase the asset from a private equity group. Wessex secured the debt as non-recourse, with a low fixed interest rate and long-term amortization, thus creating value for the investors.
The deal was executed at a time that aligned with advantageous market conditions and strong performance of the facility. Wessex continues to assists its client build a diversified portfolio of private-pay senior living facilities with a focus on secure cash flows and long-term value creation.