Capital Funding Group (CFG) Closes $207.1 Million Bridge-to-HUD Loan for the Partnership Buyout of a Portfolio of Thirteen Skilled Nursing Facilities in Florida
Executed Additional $15 Million in Accounts Receivable Financing for Refinancing of Existing Working Capital Line of Credit to Support Transaction
Capital Funding Group (CFG), a leader in the nationwide healthcare and multifamily financing industry, today announced 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.
“This financing is a testament to our ability to execute customized solutions with our one-stop-shop host of loan offerings,” said Tim Eberhardt, CFG Bank Chief Lending Officer, Bridge and HUD Loans. “Beyond executing two loans to support our client’s immediate needs, structuring the $207.1 million loan as a bridge-to-HUD loan allows us to mitigate HUD take-out risk and streamline the HUD application process, setting our client up for long-term success. This approach sets us apart from traditional lenders in the field.”
Capital Funding Group Director, Healthcare Finance, Andrew Jones and Senior Associate Ava Julio originated the bridge-to-HUD term loan for the company. A subsidiary of CFG Bank, Capital Finance, LLC provided the accounts receivable working capital line of credit. Capital Finance, LLC Managing Director, Jeffrey Stein originated the accounts receivable working capital line of credit for the company.
This financing follows CFG’s recent announcement highlighting the closing of more than $54 million across six transactions from late July through mid-August this year. The deals supported six skilled nursing facilities across the country and were executed on behalf of nationally recognized borrowers.
###
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.
