Capital Funding Group Closes $10.9 Million for Refinancing of Skilled Nursing Facility in California
Capital Funding Group (CFG) today announced the closing of $10.9 million in financing, which supported the refinancing of an existing bridge loan, executed by CFG, into a HUD loan. The refinancing supported a 99-bed skilled nursing facility in California. The deal was closed on March 30, 2023, on behalf of a nationally recognized borrower.
“We’re excited to announce this deal as it is a testament to how we take on our clients’ goals as our own and are persistent in finding solutions to help them grow,” said CFG Managing Director, Long-Term Care Tim Eberhardt. “Our long-standing relationship with HUD, paired with our decades in experience of HUD-compliant underwriting, allows us to execute bridge-to-HUD lending solutions and work with clients to mitigate HUD take-out risk. This provides our team the competitive advantage to create customized financing solutions based on each of our client’s unique business needs and goals.”
Capital Funding Group Managing Director, Long-Term Care Tim Eberhardt and Senior Associate Ava Julio originated the transaction for the company.
The financing follows the company’s recent announcement of the closing of $3.3 million in Bridge-to-HUD financing for the acquisition of two skilled nursing facilities located in Washington.
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.