Capital Funding Group (CFG) Closes Over $54 Million in Financing Across Six Deals
Total Financing Supported Six Skilled Nursing Facilities Throughout the Country
Capital Funding Group (CFG), a leader in the nationwide healthcare and multifamily financing industry, today announced the company financed 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.
“These closings are a testament to our ability to execute customized solutions with our one-stop shop loan offerings to help our clients grow and reach their goals,” said Tim Eberhardt, CFG Bank Chief Lending Officer, Bridge and HUD Loans. “We’re not like other lenders because we think like business owners and act like entrepreneurs to solve problems. More than that, we take on our clients’ goals as our own and after we execute a solution to support those goals, we continue working alongside them for the life of their loan and the evolution of their goals.”
Details of the six transactions include:
- $12.4 million HUD loan for the refinancing of a 99-bed skilled nursing facility in California, closed on July 25, 2024. CFG provided the initial bridge financing for the real estate transaction; the term loan is now being exited with permanent HUD financing.
- $4.5 million mezzanine loan for the refinancing of a 120-bed skilled nursing facility in Florida, closed on August 1, 2024.
- $14.8 million senior loan for the refinancing of an existing loan to support the acquisition of a 120-bed skilled nursing facility in Florida, closed on August 1, 2024.
- $10.5 million HUD loan for the refinancing of a 100-bed skilled nursing facility in Georgia, closed on August 8, 2024.
- $8.3 million HUD loan for the refinancing of an 81-bed skilled nursing facility in Georgia, closed on August 8, 2024. CFG originally closed a bridge loan for this project in September 2020; the initial loan refinanced existing debt and funded capital expenditures proceeds for a renovation at the facility. Through the recent deal, the total bridge debt has been refinanced with permanent HUD financing.
- $4.3 million bridge-to-HUD subordinate loan for the refinancing of a 156-bed skilled nursing facility in Florida, closed on August 15, 2024.
These transactions follow CFG’s recent announcement of the closing of a $185 million construction loan for Erickson Senior Living. The financing will support the first phase of construction for The Grandview, a continuing care retirement community currently under development in Bethesda, Md. Phase I of this project, known as the West Village, will feature two 14-story buildings with a total of 501 independent living units. CFG closed the financing on August 16, 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.
