Capital Funding Group Closes $34.7 Million in Bridge-to-HUD Financing for Acquisition of Three Skilled Nursing Facilities in Pennsylvania
Capital Funding Group (CFG) today announced the closing of $34.7 million in Bridge-to-HUD financing for the acquisition of three skilled nursing facilities. The facilities, which are located in Pennsylvania, support 299 beds. The transaction was closed on June 6, 2023.
“The closing of this financing continues to underscore our position as an industry leading bridge-to-HUD lender,” said CFG Managing Director, Real Estate Finance Craig Casagrande. “We work closely with our clients to understand their business goals. We then streamline the entire HUD process from the initial application to the final closing, leaving no step overlooked, and after the loan is executed, we continue servicing the loan, for the life of the loan. This collaborative approach reflects our commitment to building strong, personal partnerships with our clients, not simply completing transactions.”
Capital Funding Group Managing Director, Real Estate Finance Craig Casagrande and Vice President Andrew Jones originated the transaction for the company.
The announcement follows the company’s recent closing of a $13.4 million in financing, which supported the refinancing of an existing bridge loan, executed by CFG, into a HUD loan.
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.