Capital Funding Group closed more $440 million in healthcare bridge loans, HUD loans and other deals in the first half of the year, including millions in senior living and care transactions, the company announced Monday.
“It’s been a remarkable year so far at CFG, embracing our entrepreneurial approach to lending to deliver tailored solutions to clients across the nation,” CFG Bank President Erik Howard said in a statement.
The largest transaction of the half year was $65 million in refinancing for a nine-community senior living portfolio in Ohio, followed by a HUD financing package, totaling $42 million, on behalf of an unnamed “nationally recognized” borrower, for the purchase of three skilled nursing facilities in Idaho and Washington. The $42 million transaction included a $21.6 million HUD loan to support a 101-bed facility in Washington, a $10.6 million HUD loan to support a 108-bed facility in Washington and a $9.8 million HUD loan to support an 80-bed facility in Idaho.
CFG also closed a $36.2 million bridge-to-HUD loan for the refinancing of five SNFs in North Carolina.
Additionally, the Baltimore-based lender closed a $23.6 million bridge-to-HUD loan for the refinancing of a SNF in Delaware and a $20 million bridge-To-HUD loan for the refinancing of a SNF in Maryland.
CFG also closed $17.4 million in HUD loans for the refinancing of two SNFs in Florida, a $16.2 million bridge-to-HUD loan for the acquisition of two SNFs in Utah, a $15.3 million bridge loan for the refinancing of a senior living community in Seattle, and a $13.5 million bridge-to-HUD loan for the refinancing of an Ohio SNF.
“As we look to the second half of the year, we’re excited to continue this momentum supporting our clients’ growth and demonstrating that we can do what other lenders can’t,” Howard said.
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