Capital Funding recently announced the closing of a $4.5 million HUD mortgage to refinance Huron Woods, a skilled nursing facility in Kawkawlin, MI. 

Previously, Capital Funding provided a bridge loan that enabled the borrower to recapture equity in the borrowing entity. Soon after the bridge loan closed, the HUD application was submitted under 70% loan to value. The transaction was processed through HUD’s 223(f) Refinance program.