CALIFORNIA — Capital Funding Group (CFG) has provided a $30.3 million loan for the acquisition of three skilled nursing facilities.
The facilities, which are located in California, support 396 beds. The buyer was identified only as “a nationally recognized borrower.”
The transaction marks one of the first acquisitions since the inception of a new approval process with the California Attorney General. Under the new state law, any transaction involving the sale or transfer of control of a nonprofit healthcare facility is required to secure the approval of the attorney general. The conditions attached to this approval are aimed at safeguarding the welfare of facility residents and ensuring uninterrupted access to high-quality care.
Tim Eberhardt and Ava Julio originated the transaction for the CFG. Further details were not disclosed.