Kennedy Funding Closes $7.5 Million Land Loan in Santa Rosa Beach, Florida

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Jan 09, 2024, 08:45 ET

9-Bedroom Gulf-Front Property To Be Developed Into Luxury Townhome Development

ENGLEWOOD, N.J., Jan. 9, 2024 /PRNewswire/ -- When an institutional lender dropped out of a $15 million loan closing at the last minute, a Florida real estate investor looked to Kennedy Funding, a direct private lender known around the globe for its ability to provide fast, short-term bridge loans for land purchases, working capital, and development.

The Englewood, New Jersey-based lender announced that it has closed a $7.5 million land loan to 4228 Dana Beach, LLC for the purchase of a nine bedroom gulf-front home on Florida's panhandle in Santa Rosa Beach.

Kevin Wolfer, CEO/President of Kennedy Funding, expressed his enthusiasm for the project and the company's role in bringing it to fruition. "This transaction demonstrates our unwavering commitment to supporting outstanding real estate projects, and delivering fast funding when others can't," said Wolfer. "A prime waterfront location pre-approved for multifamily development with a time-of the-essence closing requirement — that's the perfect loan scenario for us," he added.
"It was a complicated loan, and we agreed to accept two subordinate mortgages," he said.

This recent loan highlights Kennedy Funding's broad lending capabilities, with the ability to close loans from $1 million to $50 million, often in a matter of days. The firm's extensive experience and flexible lending options make it a preferred choice for real estate investors, brokers and developers seeking reliable and rapid funding solutions.

Kennedy Funding is one of only a few nationwide lenders that specialize in land. With credit tightening, and with banks and other conventional lenders reluctant to lend on any real estate, real estate investors and developers are left with few options to get their money in a timely fashion.

"We fill that void," says Wolfer. "If the value is there, we will make it work — and we will do what it takes to get to the closing table."

As a direct lender with decades of experience, Kennedy Funding excels in not just overcoming the common hurdles of domestic and international bureaucracy, but also the ability to offer a fast turnaround for funding — from the initial commitment to closing the loan.

"Our goal is to work alongside our clients, guiding them through the intricacies of providing funds swiftly," Wolfer added, "regardless of whether one needs the capital for acquisition, workouts, refinance, or cash-outs.

"We are not just a direct lender — we are partners," Wolfer added. "Our team is dedicated to understanding the unique needs and aspirations of our clients and providing the financial backbone they need to succeed. We look forward to seeing the Santa Rosa Beach community thrive with the addition of these luxurious townhome condominiums."

For more information about Kennedy Funding's services or to start a loan application, visit: www.KennedyFunding.com.

About Kennedy Funding
Kennedy Funding is a global direct private lender specializing in bridge loans for commercial property and land acquisition, development, workouts, bankruptcies, and foreclosures. Kennedy Funding has closed more than $4 billion in loans to date. Its creative financing expertise provides funding up to 75% loan-to-value, from $1 million ($3 million international) to more than $50 million, in as little as five days. The company has closed loans throughout the United States, the Caribbean, Europe, Canada, and Central and South America.

SOURCE Kennedy Funding