A Lender Just Closed $413 Million in Nursing Home Deals Across 13 States. Here Is What It Signals About the Market.

Baltimore, Maryland — Capital Funding Group has been busy. The healthcare and multifamily lender announced Tuesday that it closed more than $413 million across 24 transactions from late June through late August, financing 54 skilled nursing and assisted living communities spread across 13 states. The deal volume signals something important about where the nursing home sector stands right now. After years of pandemic disruption and workforce shortages that left many operators struggling to stay afloat, lenders are opening their wallets again. And they are doing it at scale. What the Deals Look Like CFG’s recent transactions paint a picture of an industry in motion. The firm provided a $40.9 million bridge-to-HUD refinancing for a three-facility, 396-bed skilled nursing portfolio in California. It structured a $32.7 million mezzanine loan that helped secure $237.5 million in total refinancing for a 12-facility, 1,431-bed portfolio spanning California and Washington. In Pennsylvania, CFG closed a $25.3 million bridge loan for a 110-bed facility recapitalization and a separate $24.9 million HUD refinancing for a 180-bed nursing home. The firm also financed acquisitions in Colorado, Arkansas, Florida, Georgia, and Ohio — including a $16.9 million mezzanine loan supporting the purchase of 17 facilities totaling 1,122 beds in Ohio. Why This Matters The financing activity comes as operators face a complex environment. Medicaid rates are rising modestly in some states, but workforce costs continue climbing. Medicare Advantage plans are squeezing margins. And the threat of federal Medicaid cuts looms as states grapple with new enrollment requirements. Yet lenders like CFG are betting on the sector anyway. The firm has now closed more than $1.8 billion in transactions in the first half of 2026 alone, according to industry reports. That is nearly double what it did in the same period last year. “This level of activity across our healthcare lending platform speaks to the momentum we’re building nationally,” said CFG Bank President Erik Howard. “As the skilled nursing and senior living sectors keep evolving, our ability to move quickly and structure creatively is what sets us apart.” The Bigger Picture The deals also reveal where capital is flowing geographically. California, Pennsylvania, Florida, and Ohio saw multiple transactions. Colorado and Washington attracted significant financing for portfolio deals. Even smaller markets like Kansas and Arizona secured funding through CFG’s bridge-to-HUD program. For operators, access to capital means the ability to renovate aging facilities, expand bed capacity, or acquire struggling competitors. The consolidation trend that has reshaped Florida’s post-acute market is playing out nationwide — and lenders are fueling it. The financing spree suggests that despite ongoing challenges, investors and lenders see value in skilled nursing real estate. For an industry that has weathered years of bad news, that is no small thing.