Capital Funding Group Closes $10.9 Million for Refinancing of Arizona Skilled Nursing Facility
Capital Funding Group (CFG) today announced the closing of a $10.9-million HUD loan 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 transaction was closed on September 28, 2023, on behalf of a nationally recognized borrower.
“Our host of loan offerings paired with our unique, sole-ownership structure, gives us a competitive edge to simplify the loan process to deliver the best solution for our clients,” said CFG Managing Director Long-Term Care, Craig Casagrande. “Our long-standing relationship with HUD paired with our decades in experience of HUD-compliant underwriting, provides us with great, unique insight into the application process to execute HUD financing for large and small healthcare organizations. This closing is a great testament for how we actively help our clients grow and meet their goals.”
This financing follows the company’s recent announcement of $22.4 million in Bridge-to-HUD financing for the acquisition of three skilled nursing facilities. The facilities, which are located in Georgia, support 338 beds.
Capital Funding Group Vice President Tommy Dillon originated the transaction for the company.
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.