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Capital Funding Group closes $43.39M for refinancing of Calif. skilled nursing facility

Daily Record Staff//September 18, 2023

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Capital Funding Group closes $43.39M for refinancing of Calif. skilled nursing facility

Capital Funding Group closes $43.39M for refinancing of Calif. skilled nursing facility

By Daily Record Staff

//September 18, 2023

Capital Funding Group (CFG) announced the closing of a $43.39-million HUD loan, which supported the refinancing of an existing bridge loan, into a HUD loan upon stabilization, on Aug. 21.

The initial financing, executed by CFG, allowed the nationally recognized borrower to acquire a 140-bed skilled nursing facility in Bakersfield, California, and then refinancing allowed the borrower to have a successful take out.

The financing follows the company’s recent closing of a $15.49 million HUD loan, which supported the refinancing of an existing bridge loan, executed by CFG, into a HUD loan.

Capital Funding Group Director, Long-Term Care Patrick McGovern originated the transaction for the company.

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