Capital Funding Group (CFG) Closes $42 Million HUD Financing Package for Three Skilled Nursing Facilities
Deal Supports Two Washington and One Idaho Skilled Nursing Facilities
Capital Funding Group (CFG) today announced the closing of a HUD financing package totaling $42 million. CFG closed the deals on June 5, 2024, on behalf of a nationally recognized borrower. The package included three loans supporting the refinancing of existing bridge loans for three skilled nursing facilities:
- $9.8 million HUD loan to support an 80-bed facility in Idaho
- $21.6 million HUD loan to support a 101-bed facility in Washington
- $10.6 million HUD loan to support a 108-bed facility in Washington
“The closing of this financing is a testament to our long-standing relationship with HUD and our expertise in HUD-compliant underwriting,” said Tim Eberhardt, CFG Bank Chief Lending Officer, Bridge and HUD Loans. “Our decades of experience in HUD-compliant underwriting, provides us with great, unique insight into the application process to execute HUD financing for large and small healthcare organizations. Committed to our clients’ goals, our partnership doesn’t end after we execute a loan; we continue servicing your HUD loan, for the life of the loan.”
Tim Eberhardt, CFG Bank Chief Lending Officer, Bridge and HUD Loans and Ava Julio, CFG Senior Associate originated the transaction for the company.
This financing follows CFG’s recent announcement of the closing of a Bridge-to-HUD loan totaling $9.75 million, on behalf of a nationally recognized borrower. The loan supported the refinancing of a 123-bed skilled nursing facility in Massachusetts. CFG closed the deal on May 1, 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.
