Capital Funding Group Closes $13.4 Million for Refinancing of Skilled Nursing Facility in Vermont
Capital Funding Group (CFG) today announced the closing of $13.4 million in financing, which supported the refinancing of an existing bridge loan, executed by CFG, into a HUD loan. This was a successful example of a cash-out bridge loan that seasoned for two years and then closed with HUD. The refinancing supported a 144-bed skilled nursing facility in Vermont. The deal was closed on May 18, 2023, on behalf of a nationally recognized borrower.
“We’re thrilled to continue this year’s momentum with the closing of this HUD loan,” said Tim Eberhardt, CFG Managing Director, Real Estate Finance. “Our entrepreneurial approach, coupled with our decades of experience in HUD-compliant underwriting and unique insight into the application process, allows us to simplify the loan process and execute deals more efficiently than traditional lenders.
The financing follows the company’s recent announcement of the closing of $207 million in financing to support the refinancing of 10 skilled nursing facilities across Maryland, Virginia, and North Carolina.
Capital Funding Group Managing Director, Real Estate Finance Tim Eberhardt and Senior Associate Ava Julio 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.