Luther Woods Nursing and Rehabilitation Center is a 140-bed skilled nursing facility in Hatboro, Penn. Capital Funding Group provided three-part financing for the acquisition of the facility by Vita Healthcare Group. Capital Funding, LLC arranged a $13.36 bridge-to-HUD loan, funded through a combination of senior and mezzanine debt to maximize leverage. The loan included a turnaround component, in which Capital Funding, LLC was able to increase the loan amount based on projected improvements to the facility’s performance. Capital Finance, LLC also provided a $1.5 million working capital loan to Vita Healthcare Group to finance operations. CFG served as agent and senior lender in the deals, which closed on February 4, 2016.
“CFG continues to be a great partner for us. They have the team, the experience and the right financial solutions to help us as we continue to grow. We are excited to continue our relationship with Craig and the team at CFG who are committed to providing tailor-made financing solutions for post acute providers.”
— Israel Birnbaum, Vita Healthcare Group