Capital Funding Group (CFG) broke a company record for deal volume in 2021, and more than doubling its 2020 financing total, having financed more than $3.8 billion and executed 155 deals across the United States. This includes 85 HUD loans in excess of $720 million. The most prominent deal involved a $650 million bridge loan, representing the largest single financing deal the company has executed in 10 years.
CFG closed several other bridge loans, including the refinancing of a 3,140-bed skilled nursing portfolio spanning Colorado, California and Wyoming. Over in New York, CFG also closed an $89 million bridge loan for the refinancing of a 239-bed facility in Queens. There were also several bridge loans provided for acquisitions, including a $285 million bridge loan for the acquisition of a 16-facility portfolio in the Mid-Atlantic and a $56 million bridge loan for the acquisition of three facilities, with a combined 609 beds, in Illinois.
In Indiana, CFG originated a $15 million term loan for the acquisition of a 204-bed SNF. They also closed a $13 million HUD loan for the purposes of refinancing a 92-bed facility in San Francisco. Finally, CFG closed an $8 million senior loan and $1 million in mezzanine financing for two facilities in Kansas City, Kansas.
In additional news, to support the company’s growth, CFG promoted Erik Howard to executive managing director of business development and marketing and promoted industry-veteran Ken Assiran to lead the seniors housing lending platform. Craig Casagrande and Tim Eberhardt were also promoted to be co-heads of its long-term care business development group.
