Capital Funding Group financed more than $350.9 million across 12 transactions from mid-September through the end of October. The transactions supported 25 skilled nursing facilities and one facility with skilled nursing and assisted living. The assets were spread across Maryland, New York, South Carolina, Texas, New Jersey, Washington, Georgia, Tennessee and Missouri on behalf of nationally recognized borrowers.
Details of the twelve transactions include:
- $38.1 million HUD loan for the refinancing of one skilled nursing facility in Maryland, featuring a total of 156 beds. Tim Eberhardt, Craig Casagrande and Catherine Mansel originated the deal.
- $17.0 million bridge loan increase for a 123-bed skilled nursing and 60-unit assisted living facility in New York, providing additional capital to the borrower for corporate use. Craig Casagrande originated the deal.
- $17.7 million bridge loan increase for a 96-bed skilled nursing facility in New York, providing additional capital to the borrower for corporate use. Craig Casagrande originated the deal.
- $6.5 million construction loan for the development of a 100-bed skilled nursing facility in South Carolina, replacing an existing 88-bed facility in Myrtle Beach. Jimmy Zabel originated the deal. This loan contributed to the borrower’s total $26.5 million loan.
- $7.3 million HUD loan for the refinancing of a 136-bed skilled nursing facility in Houston, Texas. The facility was originally financed by CFG with an acquisition bridge loan in 2019.Patrick McGovern originated the deal.
- $33.0 million bridge loan for the refinancing of a 240-bed skilled nursing facility in New York. Craig Casagrande and Catherine Mansel originated the deal.
- $7.3 million HUD loan for the refinancing of an 88-bed skilled nursing facility in Texas. Craig Casagrande and Catherine Mansel originated the deal.
- $20.0 million HUD loan for the refinancing of a 126-bed skilled nursing facility in New Jersey. Craig Casagrande and Catherine Mansel originated the deal.
- $35.6 million HUD loan for the refinancing of a 162-bed skilled nursing facility in New Jersey. Craig Casagrande and Catherine Mansel originated the deal.
- $16.8 million bridge loan for the acquisition of a 125-bed skilled nursing facility in Washington, North Auburn Rehab & Health. Ava Julio originated the deal.
- $137.0 million bridge loan for the acquisition of eight skilled nursing facilities totaling 826 beds in Georgia. Andrew Jones and Ava Julio originated the deal, which closed on.
- $14.3 million mezzanine loan supporting the acquisition of eight skilled nursing facilities totaling 1,339 beds across Georgia, Tennessee, and Missouri. The transaction involved multiple operating partners and a short closing timeline. Patrick McGovern and Ryan Hunsicker originated the deal.
These transactions follow CFG’s announcement highlighting the closing of a $179.8 million construction loan on behalf of Erickson Senior Living. The financing will support the first phase of construction for Emerson Lakes, a CCRC, currently under development in the Lakewood Ranch community in Sarasota County, Florida.
