CFG BANK AND CAPITAL FUNDING GROUP CLOSE $262.6 MILLION IN FINANCING FOR LONG-TERM CARE PORTFOLIO, SPANNING COLORADO, CALIFORNIA & WYOMING

CFG Bank, in partnership with Capital Funding Group, today announced the closing of a $262.6 million term loan to support the refinancing of a 29-asset long-term care portfolio. Spanning Colorado, California and Wyoming, the portfolio includes 28 skilled nursing facilities and one joint skilled nursing and assisted living facility, with a total of 3,140 beds. The portfolio is owned by a privately owned real estate investment group.

This was a complex transaction in which CFG Bank and Capital Funding Group underwrote the transition of the portfolio to four new regional operators, from SAVASeniorCare, which had previously announced these divestitures in 2020. The real estate ownership of the portfolio did not transition.

“Being part of the CFG Family of Companies differentiates us from our competition as we’re able to work with all CFG entities to execute deals of all sizes and complexities, and the closing of this deal showcases our capabilities,” said CFG Bank President and CEO Bill Wiedel. “We are driven by our entrepreneurial spirit, and our unique ownership structure, coupled with our One-Stop Shop product offerings, allow us to offer creative, customized financing solutions to support our clients’ business needs and goals.” 

Executive Managing Director Erik Howard and Director Tim Eberhardt originated the transaction.

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