Capital Funding Group (CFG) Closes $9.95 Million Subordinate Loan on Behalf of Silverado Senior Living
Financing Supports Acquisition of Two Memory Care Communities
Capital Funding Group (CFG) today announced the closing of a $9.95 million subordinate loan on behalf of Silverado Senior Living. The financing will support Silverado’s acquisition of two memory care communities. Silverado managed both communities prior to acquisition. The transaction had a total senior and junior debt capital stack of $32.25 MM.
“We’re pleased to partner with Silverado and execute this financing to support their growing memory care portfolio. Silverado has a strong track record as the premier memory care provider in the country and is the type of borrower CFG strives to work with.” said Ken Assiran, CFG Managing Director – Senior Housing.
“We were very pleased to establish a new relationship closing this loan with CFG. They were committed to executing their portion of the Capital stack to meet the intricate requirements of both the senior lender and the seller within a tight closing timeline. We look forward to an ongoing partnership as we continue to expand our portfolio.,” stated Loren Shook, Co-Founder, President, and CEO of Silverado.
This closing further exemplifies the growth of CFG’s Senior Housing lending platform and its focus on providing financing to industry-leading developers, owners, and operators.
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About Silverado Senior Living
Silverado was formed in October 1996 as an owner and operator of assisted living communities with a focus on memory care, including Alzheimer’s disease and other diseases causing dementia. Currently Silverado operates 27 memory care focused assisted living communities in California, Illinois, Kansas, Maryland, Missouri, Nevada, Texas, Virginia, Washington and Wisconsin.
As a complement to the assisted living business focused on Alzheimer’s and related dementia, Silverado provides end-of-life hospice care as well as a supportive care program providing palliative care and disease management, through their wholly owned Silverado Hospice business. Currently with nine (9) licensed branches in two states (California and Texas), Silverado has provided hospice care for almost 20 years.
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, senior housing, independent living, assisted living, memory care, hospital sectors, and multifamily industry. Headquartered in Baltimore, Maryland, CFG is known as a one-stop shop, with expertise in HUD loans, other agency 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.
