Capital Funding Group (CFG) Closes Four Deals Totaling More Than $76 Million
Total Financing Supports Sixteen Skilled Nursing Facilities in California, North Carolina, Iowa, and Florida
Capital Funding Group (CFG), a leader in the nationwide healthcare and multifamily financing industry, today announced the company has closed four transactions totaling more than $76 million in September. The financing supported sixteen skilled nursing facilities and was executed on behalf of nationally recognized borrowers.
Details of the four transactions include:
- $24.35 million bridge-to-HUD loan for the refinancing of two skilled nursing facilities, supporting a total of 246 beds, in North Carolina. The financing closed on September 5, 2024.
- $13.68 million HUD loan for the refinancing of a skilled nursing facility, supporting 138 beds, in California. The financing closed on September 18, 2024.
- $20.64 million bridge-to-HUD loan for the refinancing of nine skilled nursing facilities, supporting 471 beds, in Iowa. The transaction refinanced an existing loan, which CFG closed in September 2020, providing additional capital to leverage the portfolio based on current performance and prepare for a future exit with permanent HUD financing. The financing closed on September 27, 2024.
- $18 million bridge-to-HUD mezzanine loan for the refinancing of four skilled nursing facilities, supporting 551 beds, in Florida. The financing closed on September 30, 2024. This loan built on $39 million of existing senior lender debt previously executed by CFG, which brought the total refinancing package to $57 million.
These transactions follow CFG’s recent announcement of the closing of over $54 million across six transactions from late July through mid-August this year. The financing supported six skilled nursing facilities across the country and was executed on behalf of nationally recognized borrowers.
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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.
