Capital Funding Group Closes $10.3 Million for Refinancing of Skilled Nursing Facility in Arizona
Capital Funding Group (CFG) today announced the closing of $10.3 million in financing, which supported the refinancing of an existing bridge loan, executed by CFG, into a HUD loan. The refinancing supported a 112-bed skilled nursing facility in Arizona. The deal was closed on May 4, 2023, on behalf of a nationally recognized borrower.
“We’re excited to share the closing of this deal for our client, as it showcases our bridge-to-HUD lending approach and our strong relationship with HUD,” said CFG Managing Director, Long-Term Care Craig Casagrande. “When we execute bridge loans for clients, we work with them to mitigate HUD take-out risk by ensuring everything is vetted to HUD specifications. This approach streamlines the HUD application process, so we can execute seamlessly when our clients are ready for that step. We look forward to continuing this year’s strong momentum to support our clients’ growth.”
Capital Funding Group Vice President Tommy Dillon originated the transaction for the company.
The financing follows the company’s recent announcement of the closing of $32.9 million in Bridge-to-HUD financing for the acquisition of a skilled nursing facility located in New York.
About Capital Funding Group (www.capfundinc.com)
Capital Funding Group 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 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.