NORWALK and WATERBURY, Conn. — Capital Funding Group (CFG) has provided HUD loans totaling $30.2 million for two Autumn Lakes-branded skilled nursing facilities in Connecticut.
In the first transaction, CFG provided a $21.6 million loan for Autumn Lakes Healthcare at Norwalk, a 150-bed facility in Norwalk. In the second transaction, CFG provided an $8.9 million mortgage for Autumn Lake Healthcare at Bucks Hill, a 90-bed facility in Waterbury. Both loans refinance previous bridge-to-HUD loans.
CFG previously provided the bridge loans that financed Autumn Lake Healthcare’s acquisition of the two properties in 2014. The owner successfully turned around the operational performance of the facilities, opening the door for the HUD refinancings.
Erik Howard and Tim Eberhardt originated the deals.