CFG, a Subsidiary of CFG Bank, Executes $13.55 Million in Refinancing for Two Illinois Skilled Nursing Facilities
CFG, a subsidiary of CFG Bank, today announced the closing of two HUD loans totaling $13.55 million. The loans supported the refinancing of two skilled nursing facilities in Illinois. The facilities accommodate a total of 173 beds. The financing for both facilities was closed on February 27, 2024, on behalf of a nationally recognized borrower.
“We’re not just lenders; we’re partners committed to your success,” said Tim Eberhardt, CFG Bank Chief Lending Officer, Bridge and HUD Loans. “Our entrepreneurial approach to simplifying the loan process means we’re invested in our clients’ business growth every step of the way, ensuring swift execution and providing ongoing support to help you achieve your goals.”
CFG Bank Chief Lending Officer, Bridge and HUD Loans, Tim Eberhardt and CFG Senior Associate Ava Julio originated the transaction for the company.
This financing follows CFG’s recent announcement of the closing of $16.25 million in Bridge-to-HUD financing for the acquisition of two Utah skilled nursing facilities, supporting a total of 220 beds. The financing was closed on February 1, 2024, on behalf of a nationally recognized borrower. This deal allowed the client to expand its footprint into a new state.
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.
