BALTIMORE — Capital Funding Group (CFG), a Baltimore-based lender, has provided $68.8 million in HUD an bridge-to-HUD financing across six separate transactions.
In the first loan, provided a $4.7 million HUD loan for a 60-bed skilled nursing facility in California. In the second transaction, CFG provided a $5.2 million bridge-to-HUD loan for a 70-bed skilled nursing facility in Indiana. In the third transaction, CFG provided a $12.9 million HUD loan that refinanced two skilled nursing facilities totaling 178 beds in Michigan. Patrick McGovern originated all three transactions.
In the fourth loan, CFG provided a $21.3 million HUD loan to refinance a 152-bed skilled nursing facility in New Jersey. In the fifth loan, CFG provided a $16.3 million HUD loan to refinance a 176-bed skilled nursing facility in New Jersey. In the sixth and final loan, CFG provided an $8.4 million bridge-to-HUD loan to refinance a 164-bed skilled nursing facility in Ohio. Craig Casagrande originated all three transactions.
Further details on the names, locations and borrowers for the loans were not disclosed.