Capital Funding Group (CFG) financed $411.2 million across 27 deals in the first half of 2023. The total included 19 healthcare bridge loans, five multifamily bridge loans (totaling $49.7 million), and three HUD loans for clients across the country.
The largest transaction was CFG’s closing of $207 million in financing to support the refinancing of 10 skilled nursing facilities across Maryland, Virginia, and North Carolina. That was followed by $84 million in bridge-to-HUD acquisition financing for the purchase of seven skilled nursing facilities and one assisted living community in Alabama. Other bridge loans included a $34 million loan for the acquisition of three skilled nursing facilities in Pennsylvania and a $32 million loan for the acquisition of a 200-bed skilled nursing facility in New York.
CFG even closed a construction loan (not too many of those getting arranged these days), arranging $27 million in financing for the conversion of a partially-completed hotel to a 191-unit assisted living community, in Sunrise, Florida. Other highlights were $13 million in financing to support a skilled nursing facility in Vermont, $10 million in financing to support a 99-bed skilled nursing facility in California, a $10 million bridge loan to refinance a 112-bed skilled nursing facility in Arizona, $8 million in mezzanine financing for the acquisition of a skilled nursing facility in Brooklyn, New York, and a $3 million bridge loan for the acquisition of two skilled nursing facilities with 108 beds combined in Washington.
