Capital Funding Group Closes $7.2 Million for Refinancing of Kentucky Skilled Nursing Facility
Capital Funding Group (CFG) today announced the closing of a $7.2-million HUD loan, to support the refinancing of a 162-bed skilled nursing facility in Kentucky. CFG executed the original bridge loan, which allowed the nationally recognized borrower to acquire the facility’s real estate; the facility has since stabilized and is now exiting with permanent HUD financing. The refinancing closed on November 8, 2023.
“For 30 years, we’ve been a strong partner to HUD and this deal is a testament to that long-standing partnership,” said CFG Managing Director, Long-Term Care, Tim Eberhardt. “Our decades of experience in HUD-compliant underwriting, combined with our determination to do whatever it takes to help our clients grow and succeed, set us apart in the healthcare lending industry. We look forward to helping our client continue to grow.”
This financing follows the company’s recent announcement of the closing of a $10.9-million HUD loan which supported the refinancing of a 112-bed skilled nursing facility in Arizona.
Capital Funding Group Director of Long-Term Care Patrick McGovern 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.