BALTIMORE — Capital Funding Group (CFG), a Baltimore-based lender, has closed six HUD mortgages totaling $64.5 million for skilled nursing facilities in Tennessee, Michigan, Indiana and Washington.
The privately held borrower is a national skilled nursing operator. The closings are part of a large portfolio transaction that required corporate credit approval from HUD. The six deals were closed simultaneously.
The transactions were 223(f)/232 refinances of existing term loans from conventional lenders. Tim Eberhardt and Erik Howard originated the deal. Since 2017, CFG has closed $155 million in financing with the borrower.
The financings included:
- a $12.52 million mortgage for a 123-bed skilled nursing facility in Tennessee
- a $2.82 million mortgage for a 124-bed skilled nursing facility in Tennessee
- a $13.70 million mortgage for a 223-bed skilled nursing facility in Michigan
- a $18.32 million mortgage for a 288-bed skilled nursing facility in Michigan
- a $15.18 mortgage for a 110-bed skilled nursing facility in Indiana
- a $1.98 million mortgage for a 97-bed skilled nursing facility in Washington