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Baltimore’s Capital Funding Group closes $12.5M loan for Ohio assisted living facility
Baltimore-based Capital Funding Group (CFG) Tuesday announced the closing of a $12.5 million Bridge-to-HUD loan, which supported the refinancing of an existing bridge loan.
The deal supported a 175-bed skilled nursing and assisted living facility in Ohio. CFG closed the deal on July 18.
Craig Casagrande, Capital Funding LLC Managing Director, Real Estate Finance originated the transaction for the company.
This financing follows CFG’s recent announcement that the company has financed more than $440 million from January through June of this year. This financing includes 18 health care bridge loans, 5 multifamily bridge loans and 8 HUD loans.
CFG Bank is the sixth largest bank in the Baltimore area based on deposits and has grown from $1 billion in assets at the end of 2019 to more than $5 billion in assets at the end of 2023. It is among the five largest and most experienced health care bridge-to-HUD lenders in the country, serving its clients and helping them grow for more than 30 years.
Capital Funding, a subsidiary of CFG Bank, has provided more than $6 billion in Section 232 mortgages nationwide.
