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Wednesday, April 17, 2024
HomeFinance NewsCFG and Lument Secure $93.31M Financing for Skilled Nursing, Assisted Living Facilities...

CFG and Lument Secure $93.31M Financing for Skilled Nursing, Assisted Living Facilities and SanStone Health & Rehab Expansion

Capital Funding Group (CFG) has closed a financing deal worth $93.31 million to support the refinancing of multiple healthcare facilities. The deal includes a $13.84-million mezzanine loan and $78.46 million in senior debt placement. The facilities, located in Washington, Idaho, and Oregon, have a combined total of over 1,554 beds. CFG, a well-known financial institution, structured the financing to meet the specific needs of the borrower and the healthcare facilities. CFG’s Managing Director of Real Estate Finance, Tim Eberhardt, emphasized the institution’s ability to provide creative and personalized solutions to meet clients’ unique financing needs.

Lument, a financial services company, facilitated transactions totaling $46.3 million on behalf of SanStone Health & Rehabilitation, which operates 18 rehabilitative care facilities in North Carolina. The transactions involved the refinancing of Wilkes Health & Rehabilitation, Hickory Falls Health & Rehabilitation, and Wilkes Assisted Living. The $46.3 million encompassed two FHA loans totaling $39.5 million and a bridge loan of $6.8 million. The FHA loans offer long-term, fixed-rate financing arrangements, converting existing short-term, variable-rate debts. Lument’s Kevin Oakley highlighted the transactions as part of SanStone’s strategy to expand its portfolio and operating platform in North Carolina.

G Capital Markets, a recently established advisory company, facilitated a $9.6 million HUD refinancing deal for Trellis Chino, a skilled nursing facility in Chino. The facility, specializing in short-term, high-acuity rehabilitation, has maintained an occupancy rate of nearly 100 percent despite challenges posed by the COVID-19 pandemic. Encore Capital Ventures, a firm specializing in real estate investment, managed the facility and utilized the funds obtained from the loan to settle construction debt and establish reserves for future replacements. G Capital reported the successful completion of the deal and highlighted Trellis Chino’s strong performance during the pandemic.

In other news, compliance training solutions provider ShowdMe announced a Series A investment led by Spring Mountain Capital and Blue Heron Capital. The funding will support the expansion of operations, hiring of new talent, and further development of products and services. ShowdMe aims to simplify compliance training for healthcare professionals and improve patient care. The investment positions the company for further growth and reflects its commitment to digital transformation in the healthcare industry.

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