Capital Funding Group today announces the closing of $40.35 million in Bridge-to-HUD financing for the acquisition of two skilled nursing facilities. The facilities, which are located in California and Kentucky, support 270 beds. The nationally recognized borrower previously operated these facilities, and through this transaction was able to purchase the real estate of the two facilities, allowing them to execute on their goal of continuing to grow their portfolio of facilities they own and operate.
“We are excited to share the closing of this deal as it is a great example of how we take our clients’ goals on as our own to support their growth,” said Erik Howard, CFG Executive Managing Director. “At CFG, we think like business owners and are more than a lender. We act as a business partner, working creatively to find unique solutions to accomplish goals. It is great to see operators become owner-operators and help clients reach their personal and professional goals.”
Patrick McGovern and Tommy Dillon originated the transaction for Capital Funding Group.
Capital Funding Group is a full-service provider of comprehensive financing solutions for healthcare facilities nationwide, focusing on the long-term care, assisted living and hospital sectors. Headquartered in Baltimore, Maryland, CFG is known as a one-stop shop for healthcare facility owners and operators, with expertise in HUD loans, bridge lending, working capital loans and commercial banking through the CFG family of companies.
About Capital Funding, LLC
Capital Funding, LLC, a subsidiary of CFG Community Bank, is the national leader in the FHA-insured mortgage industry, providing more than $2 billion in Section 232 mortgages nationwide since the inception of the LEAN program. CFG Community Bank is an Equal Housing Lender.
