Charleston, SC – Wessex Capital Investments is pleased to announce the closing of an equity earn-out for its client’s facility, The Crossings on the Peninsula. Wessex placed this project on an innovative bridge loan program for its client less than a year ago. The project was able to quickly surpass the lender’s qualification hurdles for the earn-out as a result of proactive asset management by Wessex and the quality operator, Harmony Senior Services.
The earn-out provides an additional return of equity in the early stages of the project at a low cost of capital, thus increasing returns and creating value for the investors. Additional benefits of achieving this stage in the bridge loan program include reduced guarantee, reduced interest rate, and extended term. Wessex will continue to manage the asset for its client to achieve maximum investor returns.