With 2024 in the books, Capital Funding Group announced the company executed or arranged more than $1.3 billion in bridge and HUD loans across 68 deals throughout the year. These financings included 41 healthcare bridge loans and other lending products, 12 multifamily bridge loans and 15 HUD loans for CFG’s clients throughout the nation.
Several CFG senior living transactions closed in H2 of 2024. First was the closing of a $207.1 million bridge-to-HUD term loan to support the partnership buyout of a portfolio of thirteen skilled nursing facilities featuring 1,423 beds in Florida. Next was an $185.0 million construction loan to support the first phase of construction of a 501-unit continuing care retirement community currently under development in Bethesda, Maryland. Then, a $132.2 million bridge loan for the refinancing of four skilled nursing facilities featuring 731 beds in Virginia as well as a $65.0 million bridge loan for the refinancing of a 689-bed portfolio featuring seven skilled nursing facilities, an assisted living community and an independent living community in Ohio, to provide a divided recapitalization to the owners. Also, there was the closing of a $30.8 million bridge-to-HUD loan for the acquisition of a 121-bed skilled nursing facility in Nevada.
Additional senior living transactions CFG closed in H2 of 2024 included: a $24.3 million bridge-to-HUD loan for the refinancing of two skilled nursing facilities supporting a total of 246 beds in North Carolina, a $20.6 million bridge-to-HUD loan for the refinancing of nine skilled nursing facilities supporting 471 beds in Iowa, an $18.0 million bridge-to-HUD mezzanine loan for the refinancing of four skilled nursing facilities supporting 551 beds in Florida and a $15.3 million bridge-to-HUD loan for the acquisition of a 159-bed skilled nursing facility in Alabama.
CFG also closed a $14.0 million bridge-to-HUD loan for the acquisition of a 192-bed skilled nursing facility in Ohio, a $13.6 million HUD loan for the refinancing of a 138-bed skilled nursing facility in California, a $13.1 million bridge loan to support the refinancing of a 120-bed assisted living and memory care facility in Scottsdale, Arizona, and a $12.8 million HUD loan for the refinancing of existing debt for a 120-bed skilled nursing facility in South Carolina.
Also in the second half of 2024, CFG closed an $11.9 million bridge-to-HUD loan for the refinancing of two skilled nursing facilities featuring a total of 118 beds in California, an $11.6 million bridge loan for the acquisition of an 86-bed skilled nursing facility in California (this deal built on a $30.2 million loan CFG previously executed in 2023 for the acquisition of 3 skilled nursing facilities, and this loan increase brings the total loan to $41.8 million, with the borrower’s portfolio now featuring 568 beds across four facilities), a $10.0 million bridge-to-HUD loan to support a 126-bed skilled nursing facility in Vermont, a $5.9 million HUD loan for the refinancing of a 156-bed skilled nursing and assisted living facility in Ohio and a $2.7 million bridge-to-HUD junior term loan for the acquisition of two skilled nursing facilities featuring a total of 194 beds in Maryland and Delaware.
