Capital Funding Group (CFG) Closes $53.4 Million in Bridge-to-HUD Loan for Refinancing of Two Skilled Nursing Facilities and One Assisted Living Facility in California
Capital Funding Group (CFG), a leader in the nationwide healthcare and multifamily financing industry, today announced the closing of a $53.4 million bridge-to-HUD loan. The deal provided interim financing to facilitate the refinancing of a maturing loan supporting two skilled nursing facilities and one assisted living facility in Victorville, California. CFG intends to refinance the loan into permanent, long-term debt insured through HUD. CFG closed the transaction on March 31, 2025.
“We are proud to be a trusted financing partner to the healthcare industry for more than 30 years,” said CFG Bank President, Erik Howard. “This transaction showcases our expertise in developing and executing customized finance solutions to support immediate and long-term goals for our clients.”
Capital Funding Group Director, Long-Term Care Patrick McGovern added, “By executing bridge financing that mitigates HUD take-out risk, we provided a short-term solution while also ensuring long-term stability for our client and their communities. We look forward to soon refinancing this loan into a permanent HUD-insured loan.”
McGovern originated the transaction for the company.
This transaction follows CFG’s recent announcement highlighting the closing of $50.5 million in subordinate financing, which contributed to a nationally recognized borrower’s $375.5 million loan. The transaction supported the refinancing of twenty five skilled nursing facilities, featuring 3,243 beds, across the country. CFG restructured two existing bridge loans into one consolidated debt capital structure. CFG closed the transaction on March 13, 2025.
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About Capital Funding Group (www.capfundinc.com)
CFG is a full-service provider of comprehensive financing solutions for the national healthcare industry, focusing on the long-term care, assisted living and hospital sectors, and multifamily industry. Headquartered in Baltimore, Maryland, CFG is known as a one-stop shop, with expertise in HUD loans, bridge lending, mezzanine financing, working capital loans and commercial banking services through the CFG family of companies.
About CFG Bank
CFG Bank, headquartered in Baltimore, Maryland, provides flexible financing and online banking solutions to the national healthcare and multifamily markets and the Mid-Atlantic commercial banking market. CFG Bank is the largest bank headquartered in Baltimore. CFG Bank has grown from $1 billion in assets at the end of 2019 to over $5.3 billion in assets at the end of 2024 and is among the five largest and most experienced healthcare bridge-to-HUD lenders in the country, serving its clients and helping them grow for over 30 years. CFG Bank transforms the banking experience by delivering big bank capabilities and expertise, coupled with relationship-driven boutique bank service. CFG Bank has branches in Lutherville and Baltimore City, and a cashless branch in Annapolis. For more information, visit www.CFG.bank, and follow CFG Bank on LinkedIn, Facebook, Instagram, and X. Member FDIC.
About Capital Funding, LLC
Capital Funding, LLC, a subsidiary of CFG Bank, is the national leader in the FHA-insured mortgage industry, providing more than $6 billion in Section 232 mortgages nationwide. CFG Bank is an Equal Housing Lender. Member FDIC.
