Capital Funding Group Provides $8.8 Million in Mezzanine Financing for Acquisition of New York Skilled Nursing Facility
Capital Funding Group (CFG) today announced the closing of $8.8 million in mezzanine financing for the acquisition of a skilled nursing facility. The mezzanine debt was provided by CFG in a total financing package of $60.8 million; the other funds were secured through a syndication effort with a bank CFG has partnered with in the past. The facility, which is located in Brooklyn, New York, supports 240 beds and the transaction was closed on June 9, 2023.
“We understand that every client’s needs are unique, and the closing of this deal is a testament to our team’s ability to execute customized solutions to support client growth,” said CFG Managing Director, Real Estate Finance Craig Casagrande. “With our host of one-stop-shop loan offerings, we simplify the loan process and think outside of the box to deliver creative solutions to client challenges that might deter others. We do what it takes to set up our clients for long-term success.”
Capital Funding Group Managing Director, Real Estate Finance Craig Casagrande and Vice President Andrew Jones originated the transaction for the company.
The announcement follows the company’s recent closing of $34.7 million in Bridge-to-HUD financing for the acquisition of three skilled nursing facilities located in Pennsylvania.
About Capital Funding Group (www.capfundinc.com)
Capital Funding Group 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 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.
