Capital Funding Group (CFG) Closes $50.5 Million in Subordinate Financing to Support Refinancing of 25 Skilled Nursing Facilities Nationwide
Summary
Capital Funding Group (CFG), a leader in the nationwide healthcare and multifamily financing industry, today announced the closing of $50.5 million in subordinate financing, which contributed to a $375.5 million loan, for the refinancing of twenty five skilled nursing facilities across California, Colorado, Georgia, Maryland, West Virginia, and Wyoming, featuring 3,243 beds. CFG partnered with the nationally recognized borrower to restructure two existing bridge loans into one consolidated debt capital structure. Understanding our clients goals of an eventual exit through HUDs 232/223(f) program, we looked at how to best execute their short-term finance needs with this goal in mind.Capital Funding, LLC Managing Director, Real Estate Craig Casagrande added, By restructuring two existing bridge loans into one consolidated debt capital structure, we provided a flexible capital solution to our client, and they are more advantageously set up with a HUD-ready, stabilized portfolio to streamline a future exit through a 232/223(f) loan.Casagrande, Tim Eberhardt, CFG Bank Chief Lending Officer, Bridge and HUD Loans, and Catherine Mansel, Capital Funding, LLC Associate, originated the transaction for the company.This transaction follows CFGs recent announcement highlighting the closing of three deals for over $41 million in financing, on behalf of nationally recognized borrowers. CFG closed the transactions from mid-February through early March.CFG 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. CFG Bank has grown from $1 billion in assets at the end of 2019 to over $5.3 billion in assets at the end of 2024 and is among the five largest and most experienced healthcare bridge-to-HUD lenders in the country, serving its clients and helping them grow for over 30 years.