Capital finance group (CFG) announces today the closure of a $ 88.9 million Bridge Loan to HUD which took place on March 11, 2021. Nationally Recognized Borrower is an industry leading provider. The bridging loan proceeds were used to refinance a 239-bed assisted living facility in Queens, NY and a 184-bed assisted living facility in Brooklyn, NY Both properties are licensed by the State of New York.
“After the closing of two loans over $ 275 million, and now the closing of that loan, which required a specific and limited installation license from the state, CFG continues to show how it is a leader in industry and has the ability to support the growth of our customers. needs, ”said CFG Executive Director General Erik Howard. “CFG’s multitude of loan offerings, coupled with our unique ownership structure, gives us a competitive advantage and enables our team to quickly and efficiently close transactions of all sizes and complexities, providing our clients with a financing solution. truly personalized every time. ”
Principal Craig Casagrande and senior partner Andrew Jones initiated the transaction for Capital Funding Group.
Capital Funding Group is a full service provider of comprehensive financing solutions for healthcare facilities nationwide, with a focus on the long-term care, assisted living and hospital sectors. Headquartered in Baltimore, Maryland, CFG is known as a one-stop-shop for healthcare facility owners and operators, with expertise in HUD loans, bridging loans, working capital loans, commercial banking services and investment advisory services through the CFG family of companies.
About Capital Funding, LLC
Capital Funding, LLC, a subsidiary of CFG Community Bank, is the nation’s industry leader in FHA insured mortgages, providing more than $ 2 billion in Section 232 mortgages nationwide since the inception of the LEAN program. CFG Community Bank is an equal housing lender.