Capital Funding Group (CFG) pulled out all the stops for its latest transaction. It involved Vantage Point Capital’s acquisition of five skilled nursing facilities in Ohio, which Crown Healthcare Group leased concurrently on an arm’s length basis.
CFG’s Tim Eberhardt and Erik Howard originated the real estate acquisition financing, which comprised a term loan, with both an A-piece and a B-piece, and a mezzanine loan, which represents about 88% of the transaction costs. CFG participated in the A-piece but funded 100% of both the B-piece and the mezzanine loan.
Meanwhile, for the operator, Jeffrey Stein of CFG closed a multimillion dollar working capital line of credit that includes a component to provide collateral availability on unbilled A/R until Crown Healthcare Group obtains its provider numbers.
