Capital Funding Group Closes $15.49 Million for Refinancing of Skilled Nursing Facility in Arizona
Capital Funding Group (CFG) today announced the closing of a $15.49-million HUD loan, which supported the refinancing of an existing bridge loan, executed by CFG, into a HUD loan. Through this transaction, CFG also refinanced an additional debt associated with a full facility remodel the borrower completed prior to submitting to HUD.
The $15.49-million HUD loan, which supported a 118-bed skilled nursing facility in Arizona, closed on August 17, 2023, on behalf of a nationally recognized borrower.
“The transaction is a testament to the long-standing relationships we maintain with our clients, and our commitment to taking on client goals as our own,” said CFG Managing Director, Long-Term Care Craig Casagrande. “Whether we execute a bridge loan and service it through the life of the loan, or go a step further and later refinance that loan into a HUD loan, with our one-stop-shop offerings, we do whatever it takes to help our clients grow.”
The financing follows the company’s recent closing of a $7.2 million HUD loan, which supported the refinancing of an existing bridge loan, executed by CFG, into a HUD loan. 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.