Showing off its prowess at HUD refinances, Capital Funding Group closed three of them for clients in the Southeast. First, in Washington D.C., Patrick McGovern provided a $10.5 million HUD loan to a 183-bed skilled nursing facility. This transaction comes full circle for Mr. McGovern, who arranged the original bridge acquisition loan (being taken out by the current HUD refinance) in addition to a $2 million working capital line to finance operations. Then, Gary Sever of Capital Funding Group closed two other transactions, including a $2.57 million HUD loan for an assisted living community in North Carolina and an $18.9 million HUD refinance of an assisted living community in Crozet, Virginia.
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