Capital Funding Group Closes $13.84 Million Mezzanine Loan for Refinancing of 12 Long-Term Care Facilities in Northwest
The Mezzanine Debt Was Provided by CFG In a Total Financing Package of $92.31 Million
Capital Funding Group (CFG) today announced the closing of a $13.84-million mezzanine loan, which supported the refinancing of eleven skilled nursing facilities and one assisted living facility. In addition to the mezzanine debt, CFG helped the client place the senior debt which totaled $78.46 million. The total financing package amounted to $93.31 million.
The facilities, which span Washington, Idaho, and Oregon, operate over 1,554 beds. The financing was closed on August 25, 2023, on behalf of a nationally recognized borrower.
“We understand that every client’s needs are unique, so we always approach each financing need as such – with creative, personalized solutions,” said CFG Managing Director, Real Estate Finance Tim Eberhardt. “Our 30 years of lending experience, together with our one-stop-shop loan offerings, allow us to execute deals of all sizes and complexities to support our clients’ goals. It’s been an exciting year, and we look forward to continuing building on this momentum through the end of the year.”
The financing follows the company’s recent closing of a $43.39-million HUD loan, which supported the refinancing of an existing bridge loan, into a HUD loan upon stabilization.
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.