BALTIMORE — Capital Funding Group (CFG), a Baltimore-based lender, has provided loans totaling $32.4 million for skilled nursing providers in the Midwest.
In the first transaction, CFG provided a $13.7 million term loan for the CommuniCare Family of Companies, a long-term care provider based in Cincinnati. The loan is supported by seven skilled nursing facilities totaling 974 beds. Craig Casagrande originated the loan.
In a separate transaction, CFG provided an $8.7 million bridge-to-HUD loan for the acquisition of two MidMichigan Health skilled nursing facilities. Affiliates of The Peplinski Group bought the properties, which total 210 beds. CFG also provided a $3 million to fund operations of the two properties. Patrick McGovern arranged the loans.
Additionally, Capital Finance LLC, a sister company of CFG, closed a $7 million revolving line of credit for an Illinois operator to provide working capital for a HUD-insured skilled nursing portfolio. Jeffrey Stein originated the deal.