Capital Funding Group closed four transactions encompassing the following:

  • Junior portion of debt to finance the acquisition of Evergreen Nursing and Rehabilitation Center in Modesto, CA
  • $13.36 million bridge-to-HUD and mezzanine debt to finance the acquisition of Luther Woods Nursing and Rehabilitation Center, along with a $1.5 million working capital loan to finance operations
  • $7.0 million working capital line of credit for Farmington Health Care Center and Howell Care Center

Evergreen Nursing and Rehabilitation Center is a 175-bed skilled nursing facility located in Modesto, CA. Capital Funding provided the junior portion of the overall debt to finance the facility’s acquisition by a group of private real estate investors. An affiliate of Windsor Healthcare will operate the facility. The deal closed February 1, 2016.

Luther Woods Nursing and Rehabilitation Center is a 140-bed skilled nursing facility in Hatboro, PA. Capital Funding Group arranged three-part financing to the project throughout the acquisition of the facility by Vita Healthcare Group. Capital Funding arranged a $13.36 bridge-to-HUD loan, funded through a combination of senior and mezzanine debt to maximize leverage. The loan included a turnaround component, in which Capital Funding was able to increase the loan amount based on projected improvements to the facility’s performance. Capital Finance also provided a $1.5 million working capital loan to Vita Healthcare Group to finance operations. CFG served as agent and senior lender in the deals.

Farmington Health Care Center and Howell Care Center are Michigan facilities that together total 273 beds. Following a recent acquisition, Capital Finance arranged a $7 million working capital line of credit for an operator of the two facilities. Capital Finance provided the borrowers with additional commitment capacity while they work to obtain their new provider numbers from the Centers for Medicare and Medicaid Services.

Baltimore-based Capital Funding Group is a provider of comprehensive financing solutions for healthcare facilities nationwide, focusing on the long-term care, assisted living and hospital sectors.