SNF bought through bridge-to-HUD loan
A $19.1 million bridge-to-HUD loan for Hudson Pointe Nursing and Rehabilitation, and a $3 million working capital loan to finance operations was announced by Capital Funding Group.
The 167-bed SNF in New York was acquired for a total of $20.87 million. It closed on June 3.
CFG also announced a $6 million bridge loan that allowed borrowers to recapture equity for SNFs in Georgia and South Carolina. The two SNFs have a total of 256 beds. The loan closed on June 23.