HATBORO, Pa. — Capital Funding Group (CFG), a Baltimore-based lender, has arranged a $13.4 million bridge-to-HUD loan and a $1.5 million working capital loan for Luther Woods Nursing and Rehabilitation Center, a 140-bed skilled nursing facility in the Philadelphia suburb of Hatboro.
CFG previously funded the acquisition of the facility by Vita Healthcare Group. The bridge-to-HUD loan was funded through a combination of senior and mezzanine debt. The working capital loan will help finance operations.
CFG was both the agent and senior lender in the deals.