Capital Funding Group (CFG) Closes $12.5 Million HUD Loan for Refinancing of Skilled Nursing and Assisted Living Facility in Ohio
Capital Funding Group (CFG) today announced the closing of a $12.5 million Bridge-to-HUD loan, which supported the refinancing of an existing bridge loan. The deal supported a 175-bed skilled nursing and assisted living facility in Ohio. CFG closed the deal on July 18, 2024.
“We take on our client’s goals as our own because their success is our business, and helping them grow is our top priority,” said Tim Eberhardt, CFG Bank Chief Lending Officer, Bridge and HUD Loans. “For over 30 years we’ve been a strong partner to HUD, and we leverage this long-standing relationship to be a one-stop shop for our clients and offer unique Bridge-to-HUD financing solutions that ensure a seamless process, from application to execution and post-execution.”
Craig Casagrande, Capital Funding, LLC Managing Director, Real Estate Finance originated the transaction for the company.
This financing follows CFG’s recent announcement that the company has financed over $440 million from January through June of this year. This financing includes 18 healthcare bridge loans, 5 multifamily bridge loans, and 8 HUD loans.
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About CFG (www.capfundinc.com)
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. 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 CFG Bank
CFG Bank, headquartered in Baltimore, Maryland, provides flexible financing and online banking solutions to the national healthcare and multifamily markets and the Mid-Atlantic region. CFG Bank is the 6th largest bank in the Baltimore area based on deposits and the largest that is based in Baltimore. CFG Bank has grown from $1 billion in assets at the end of 2019 to over $5 billion in assets at the end of 2023 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. CFG Bank transforms the banking experience by delivering big bank capabilities and expertise, coupled with relationship-driven boutique bank service. CFG Bank has branches in Lutherville and Baltimore City, and a cashless branch in Annapolis. For more information, visit www.CFG.bank, and follow CFG Bank on LinkedIn, Facebook, Instagram and X.
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.
