CFG Secures $93.31M Financing for Skilled Nursing, Assisted Living Facilities; Lument Facilitates $46.3M Deal for SanStone Health & Rehab Expansion in North Carolina

Capital Funding Group (CFG) has successfully closed a significant financing deal, totaling $93.31 million, to support the refinancing of multiple healthcare facilities. This financing arrangement encompassed a $13.84-million mezzanine loan, complemented by $78.46 million in senior debt placement.

The facilities spread across Washington, Idaho, and Oregon, collectively offer over 1,554 beds.

CFG, a well-known financial institution, executed this financing on behalf of a nationally recognized borrower. The mezzanine loan and senior debt were strategically structured to meet the specific needs of the borrower and the healthcare facilities involved.

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“We understand that every client’s needs are unique, so we always approach each financing need as such – with creative, personalized solutions,” CFG’s Managing Director of Real Estate Finance, Tim Eberhardt said in a press release. “Our 30 years of lending experience, together with our one-stop-shop loan offerings, allow us to execute deals of all sizes and complexities to support our clients’ goals. It’s been an exciting year, and we look forward to continuing building on this momentum through the end of the year.”

This announcement comes on the heels of CFG’s recent success in securing a $43.39-million HUD loan, which facilitated the refinancing of an existing bridge loan, transitioning it into a HUD loan once the project reached stabilization.

Lument Facilitates $46.3 Million Transactions for SanStone Health & Rehabilitation Expansion in North Carolina

Lument reported the completion of transactions totaling $46.3 million on behalf of SanStone Health & Rehabilitation, an operator of 18 rehabilitative care facilities in North Carolina.

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The transactions involved Wilkes Health & Rehabilitation, a skilled nursing facility (SNF) comprising 97 units and 130 beds, located in North Wilkesboro, North Carolina. Additionally, Hickory Falls Health & Rehabilitation, a SNF featuring 70 units and 120 beds situated in Granite Falls, North Carolina, and Wilkes Assisted Living, a 102-unit assisted living (AL) community in Wilkesboro, North Carolina, were part of the funding.

The $46.3 million in transactions encompass two loans, amounting to $39.5 million, and one bridge loan of $6.8 million. These FHA loans come with 35-year terms and serve to refinance existing short-term, variable-rate debts, converting them into long-term, fixed-rate financing arrangements.

“These successful closings are the most recent wins in a comprehensive strategy to help grow SanStone’s portfolio, expand its best-in-class operating platform across the state of North Carolina, and ultimately put in place beneficial, long-term financing at its communities,” Kevin Oakley of Lument said in a press release.

SanStone Health & Rehabilitation had previously collaborated with Lument in 2020 to secure bridge financing for the acquisition of these three communities. Apart from facilitating the acquisitions, the bridge financing arrangement included provisions for repairs and the potential for recapitalization upon achieving performance and value improvement targets.

“Lument has guided us through several successful transactions, each one with its own unique challenges,” SanStone President Jennifer Robinson said in a press release. “From bridge loan acquisitions to complete portfolio recapitalization, Lument understands how to craft customized funding solutions that maximize value and position our communities for long-term success.”

New Advisory Firm G Capital Markets Secures $9.6 Million HUD Refinancing Deal for Trellis Chino Skilled Nursing Facility

G Capital Markets, a recently established advisory company, successfully facilitated a HUD refinancing deal worth $9.6 million for Trellis Chino, a skilled nursing facility located in Chino.

This facility, constructed in 2018, consists entirely of private rooms and specializes in providing care to short-term, high-acuity rehabilitation patients. Despite the challenges posed by the COVID-19 pandemic, the building has exhibited robust performance, maintaining an occupancy rate of nearly 100 percent, as reported by G Capital, the company said in a press release.

The borrower in this transaction is Encore Capital Ventures, a firm specializing in real estate investment and capital solutions. They manage a portfolio of real estate holdings, including healthcare properties, throughout California.

The funds obtained from this loan were utilized to settle the debt from the construction loan and establish reserves for potential future replacements.

Lument has reported the completion of transactions totaling $46.3 million on behalf of SanStone Health & Rehabilitation, an operator of 18 rehabilitative care facilities in North Carolina. Leading these transactions for Lument was Kevin Oakley, a director responsible for the Southeast region.

ShowdMe Secures Series A Investment to Expand Compliance Training Services

ShowdMe, a provider of compliance training solutions for home care agencies and skilled nursing facilities, announced a Series A investment.

In a press release, the company said the funding round, led by Spring Mountain Capital and Blue Heron Capital, will allow the company to expand its operations, hire new talent, and further develop its range of products and services.

“Show Me is a leader in the digital transformation of compliance and training solutions for healthcare organizations, and we are proud to partner with them,” Kenny Soll of Spring Mountain Capital said. “Impressively, the company has reduced in-service costs by as much as 80% while achieving 93% satisfaction rates, and we are committed to helping ShowdMe accelerate its growth initiatives.”

In a press release, the company said ShowdMe’s Series A investment positions the company for further expansion and underscores its commitment to simplifying compliance training for healthcare professionals while delivering quality patient care.

“We’re excited to be working with Avi and the entire ShowdMe team to advance their goal of making healthcare compliance easy,” Gordon Crenshaw of Blue Heron Capital said. “The company’s easy-to-use platform provides the right training, to the right employee, at the right time to ultimately help get more healthcare professionals doing what they do best, helping patients.”