Daily Record Staff//September 18, 2023
//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.-