Capital Funding Group (CFG) Closes $132.24 Million Bridge Loan for Refinancing of Four Skilled Nursing Facilities in Virginia
Capital Funding Group (CFG), a leader in the nationwide healthcare and multifamily financing industries, today announced the closing of a $132.24 million bridge loan, on behalf of a nationally recognized borrower. The deal supported the refinancing of four skilled nursing facilities, featuring 731 beds, in Virginia. CFG closed the transaction on October 29, 2024 – 47 days from receipt of the signed term sheet.
“We are elated to share the closing of this deal which supported our client’s need for timely funding in order to refinance four skilled nursing facilities,” said Craig Casagrande, Managing Director, Real Estate Finance. “This transaction showcases our team’s ability to leverage our robust expertise to simplify the loan process and execute financing expeditiously to support our client’s goals.”
Craig Casagrande, Capital Funding, LLC Managing Director, Real Estate Finance, and Catherine Mansel, Capital Funding, LLC Associate, originated the transaction for the company.
This transaction follows CFG’s recent announcement highlighting the closing of a $207.1 million bridge-to-HUD term loan, on behalf of landlord sponsor, 980Investments, a nationally recognized real estate investment company. The deal supported the partnership buyout of a portfolio of thirteen skilled nursing facilities, featuring 1,423 beds, in Florida. CFG also provided $15 million in accounts receivable financing to support the working capital needs of the portfolio. CFG closed both deals on October 21, 2024.
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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.
