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BAKERSFIELD, Calif. — Capital Funding Group (CFG) has provided a $43.4 million HUD loan for a 140-bed skilled nursing facility in Bakersfield.
The transaction converts an existing bridge loan into a HUD loan following the property’s stabilization.
The initial financing, also executed by CFG, allowed the nationally recognized borrower to acquire the property.
Patrick McGovern originated the transaction for CFG.