Capital Funding Group closed a $50.3 million delayed draw bridge-to-HUD loan to support the recapitalization of 13 skilled nursing facilities. The deal was secured by first-priority collateral on a single asset in California, as well as mezzanine collateral on twelve additional assets in California, New Hampshire and Massachusetts. The funding provided for an immediate recapitalization of one real estate asset in California and for additional delayed draw proceeds that will be used to further capitalize the other 12 assets which are part of an existing HUD portfolio. CFG intends to refinance into permanent HUD debt. Andrew Jones originated the transaction for the company.
CFG Recapitalizes Skilled Nursing Portfolio
