PALATKA, Fla. — Capital Funding Group has arranged a $14 million bridge-to-HUD loan refinancing for Palatka Health Care Center, a 180-bed skilled nursing facility in Palatka.
Capital Funding initially provided the bridge loan in September to fund the acquisition of the facility. Capital Funding is the sole lender.
Gary Sever of Capital Funding originated the refinance.
Capital Funding Group is a full-service provider of comprehensive financing solutions for healthcare facilities nationwide, focusing on the long-term care, assisted living and hospital sectors. Headquartered in Baltimore, Maryland, CFG, a subsidiary of CFG Community Bank, has provided more than $2 billion in HUD LEAN Section 232 mortgages nationwide since the inception of the program.