CFG executes $12M In bridge financing for Fla. drug, alcohol facility

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CFG, a subsidiary of CFG Bank, Monday announced the closing of $12 million in bridge financing for the acquisition of a building that is being repurposed into a drug and alcohol rehabilitation facility.The facility, which is in Florida, supports 109 beds. The financing was closed on Jan. 31, 2024, on behalf of a nationally recognized borrower.CFG Vice President Tommy Dillon originated the transaction for the company.This financing follows CFGs recent announcement of the closing of a $15.36 million bridge loan. The refinancing supported Truewood by Merrill, First Hill, a 98-unit independent living, assisted living and memory care community in Seattle. CFG closed the financing on Jan. 23 on behalf of the joint-venture ownership.

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