Capital Funding Group announced Monday that it has closed $ 285 million in financing for the acquisition of a portfolio of skilled nursing guaranteed by 16 facilities in the Mid-Atlantic region, in partnership with its credit firm CFG Credit Partners.

The bridge to the HUD [Department of Housing and Urban Development] the funding was for “a nationally recognized borrower” who is “an industry leading provider of qualified nursing facilities,” according to the press release announcing the transaction.

The transaction is CFG’s second over $ 275 million financing loan in the past two quarters; The CFG family of companies closed $ 451.4 million in healthcare real estate bridging loans, as well as $ 237.5 million in HUD mortgages in 2021.

CFG Executive Managing Director Erik Howard and Vice President Tim Eberhardt are behind the deal, according to the press release announcing the deal.

The announcement comes the same month as the announcement a bridge loan of $ 57 million for another SNF wallet, but one with four installations.

Before the COVID-19 pandemic struck in full force in 2020, HUD was take a harder line on their underwriting and approval process, several loan experts said – a process that had already been rigorous. The change came after a record default by a nursing home chain that was published in the New York Times in 2019.