CFG assists with $21.6M bridge-to-HUD loan
Baltimore-based Capital Funding Group has given a big assist to one Connecticut-based provider, in the form of a $21.6 million loan.
Autumn Lake Healthcare at Norwalk, CT, a 150-bed SNF, was the recipient of the loan. It involves a Housing and Urban Development refinance of a two-facility bridge-to-HUD term loan, the lender said in a press release. With the other long-term care facility, Autumn Lake Healthcare at Bucks Hill, the HUD mortgages total some $30.2 million.
CFG first provided financing for Autumn Lakes' acquisition of these facilities in December 2014. After helping perform a financial turnaround of the two institutions, CFG has entered again to execute these HUD refinances of bridge loans in April 2018.