Capital Funding Group announced Monday that it had closed on a HUD financing package totaling $42 million, on behalf of an unnamed “nationally recognized” borrower, for the purchase of three skilled nursing facilities across two states.
The Baltimore-based lender closed the deals June 5.
The package supports the refinancing of bridge loans for three facilities:
- a $21.6 million HUD loan will support a 101-bed facility in Washington,
- a $10.6 million HUD loan will support a 108-bed facility in Washington and
- a $9.8 million HUD loan will support an 80-bed facility in Idaho.
The financing follows the May 1 closing of a bridge-to-HUD loan totaling $9.75 million for another borrower that Capital said was nationally recognized. That borrower used the loan to refinance a 123-bed SNF in Massachusetts.
