Capital Funding Group Closes $19.8 Million in Bridge-to-Hud Financing for Acquisition of Virginia Skilled Nursing Facility
Capital Funding Group (CFG) today announced the closing of a $19.8 million bridge-to-HUD loan. The loan supported the execution of an in-the-money purchase option used to acquire a 120-bed skilled nursing facility in Virginia. Loan proceeds provided represented 100% of the acquisition and closing costs. The financing was closed on December 28, 2023, on behalf of a nationally recognized borrower.
“The successful closing of this financing underscores our leadership in the bridge-to-HUD lending industry,” said CFG Managing Director, Real Estate Finance, Tim Eberhardt. “With more than 30 years of offering a one-stop-shop lending experience, we have a competitive edge and embrace our entrepreneurial approach to simplify the loan process, so our clients can seamlessly grow their businesses to reach their goals.”
Capital Funding Group Vice President, Andrew Jones originated the transaction for Capital Funding Group.
This financing follows the company’s recent announcement of the closing of a $9.5 million HUD loan, which supported the refinancing of an existing bridge loan executed by CFG. The refinancing supported a 173-bed skilled nursing facility in Pennsylvania.
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.