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NEW YORK CITY — Capital Funding Group has arranged a $19.1 million bridge-to-HUD loan and $3 million in working capital for Hudson Pointe Nursing and Rehabilitation Center, a 167-bed skilled nursing facility in the Bronx.
The bridge-to-HUD loan financed the $20.9 million acquisition of the facility, while the working capital loan will help fund operations. Craig Casagrande originated the bridge loan while Chip Woelper originated the working capital loan.
In a separate transaction, Capital Funding LLC provided a $6 million bridge loan for an unnamed borrower to recapitalize skilled nursing facilities in Georgia and South Carolina.
The facilities combined total 256 beds. Capital Funding was the sole lender on the loan.