Capital Funding Group announced a pair of HUD loans on two sides of the country. The first, originated by Patrick McGovern, totaled nearly $5.5 million and went towards refinancing a 53-bed assisted living community in Sacramento, California. Capital Funding provided the original bridge loan in 2012 for the community and recapitalized the borrowing entity with more than $1 million in cash. The second transaction, originated by Gary Sever, totaled $14 million and refinanced a bridge loan (that CFG had also previously provided) on a 180-bed skilled nursing facility in Palatka, Florida. The bridge loan helped fund the acquisition of the facility in September 2014. Capital Funding is the sole lender in this refinance. For more details on these financings, you can check out the September issue of The SeniorCare Investor.
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