Capital Funding Group announced the closing of four transactions totaling more than $76 million in September. The financing supported 16 skilled nursing facilities and was executed on behalf of nationally recognized borrowers.
First, CFG closed a $24.35 million bridge-to-HUD loan for the refinancing of two SNFs with 246 beds in North Carolina. Next, it secured a $13.68 million HUD loan for the refinancing of SNF with 138 beds in California. Then, CFG closed a $20.64 million bridge-to-HUD loan for the refinancing of nine SNFs comprising 471 beds in Iowa. The transaction refinanced an existing loan, which CFG closed in September 2020, providing additional capital to leverage the portfolio based on current performance and prepare for a future exit with permanent HUD financing.
Lastly, CFG secured an $18 million bridge-to-HUD mezzanine loan for the refinancing of four SNFs featuring 551 beds in Florida. This loan built on $39 million of existing senior lender debt previously executed by CFG, which brought the total refinancing package to $57 million.
These transactions follow CFG’s announcement of the closing of over $54 million across six transactions from late July through mid-August this year. The financing supported six SNFs across the country and was executed on behalf of nationally recognized borrowers.
