Capital Funding Group Closes $84.7 Million in Bridge-to-HUD Financing for Acquisition of Eight Long-Term Care Facilities
CFG Collaborated with Strategic Partner to Execute Financing
Capital Funding Group (CFG) today announced the execution of $84.7 million in bridge-to-HUD financing. CFG collaborated with a strategic partner to arrange the deal, which was closed on March 24, 2023. The financing supported the acquisition of seven skilled nursing facilities and one assisted living facility, which feature a total of 797 beds, located in Alabama. The financing was executed on behalf of nationally recognized borrower, Venza Care.
“The closing of this financing well showcases our team’s entrepreneurial approach and ability to think outside of the box to create solutions,” said CFG Managing Director, Long-Term Care Craig Casagrande. “Our agility as problem solvers, coupled with our more than 35 years of providing one-stop-shop lending solutions, allow us to get creative to help our clients get the funding they need to grow. It’s been an exciting year, and we look forward to continuing this momentum.”
Capital Funding Group Managing Director, Long-Term Care, Craig Casagrande and Vice President, Andrew Jones originated the transaction for Capital Funding Group.
The announcement follows the company’s recent closing of $10.9 million in financing, which supported the refinancing of an existing bridge loan, executed by CFG, into a HUD loan. The refinancing supported a 99-bed skilled nursing facility in California.
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.