Capital Funding Group closed $34.7 million in bridge-to-HUD financing for the acquisition of three skilled nursing facilities in Pennsylvania that combine for 299 beds. Managing Director, Real Estate Finance Craig Casagrande and Vice President Andrew Jones originated the transaction for the borrower, which was a regional operator.
The announcement follows the company’s recent closing of a $13.4 million HUD loan, which supported the refinancing of an existing bridge loan on a 144-bed skilled nursing facility in Vermont. The cash-out bridge loan had seasoned for two years before being brought to HUD.
