Capital Funding Group Closes $27.5M in Loans for Acquisition of Four Communities

by Jeff Shaw

BALTIMORE, Md. — Capital Funding Group has provided three bridge-to-HUD loans and a mezzanine loan in the seniors housing sector totaling $27.5 million.

The first loan was a $10.8 million bridge-to-HUD loan to finance the acquisition of Creekside Care and Scotland Manor Health Care Center, two skilled nursing facilities in North Carolina. The two communities total 215 beds. ARBA Group is purchasing the communities for $9.5 million.

The second loan was an $8.2 million bridge-to-HUD loan for the acquisition of The Courtyards at Fort Worth, a 365-bed skilled nursing facility in Fort Worth, Texas. Sava Senior Care sold the community to ARBA for $9.6 million. Concord Healthcare will replace the current operator.

Lastly, Capital Funding Group provided a $6.5 million bridge-to-HUD loan and a $2 million mezzanine loan for the acquisition of Bloomfield East, a 130-bed skilled nursing facility in Lynwood, Calif. A group of private real estate investors bought the property and leased it to a new operator, Reliant Management.

Capital Funding Group is a Baltimore-based lender for healthcare properties, especially skilled nursing facilities, assisted living communities and hospitals.

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