HACKENSACK, NJ — With the help of a $1.8 million loan from Kennedy Funding, a direct private lender based in Hackensack, New Jersey, Carris Commercial Properties, LLC will be able to purchase a 74-acre site made available when a power company’s plan were denied approval.

“The site is adjacent to a Florida Power and Light facility so the city felt that Panda Midway Power Partner’s plans to construct a power generation plant there was unneeded and would negatively affect the area,” says Harris E. Rein, a partner with Carris Commercial Properties, LLC.

“With Kennedy Funding’s help, we now have an opportunity for commercial office or warehouse development in one of the fastest growing cities in the state. Kennedy Funding’s response time was excellent and their attention to detail was second to none.”

Carris Commercial Properties seized the opportunity to pick up a prime 74-acre parcel located on Medway Road in Port Saint Lucie, Florida, approximately 6/10 of a mile from I-95 on the south side of the road. Carris will pay $2,500,000 for the property.

“This loan scenario is the perfect example of the value of our ability to move quickly to issue loan commitments and close deals rapidly,” says Jeffrey Wolfer, president of Kennedy Funding.

For nearly twenty years, Kennedy Funding has provided financial expertise and guided its clients through complex loan processes. The company has an international reputation for its lending expertise and ability to devise innovative strategies to deal with commercial property workouts, foreclosures, acquisitions, refinancing, bankruptcies and related situations. Kennedy’s staff of veteran financial experts excels at managing multifaceted loan transactions, resolving potential problems with innovative solutions, and assessing complex risk scenarios.

“The majority of lenders are not capable of responding to loan requests quickly,” says Wolfer. “We have a streamlined, efficient process in place that lets us turn around loan commitments in 24 hours and close in a few days. This enables us to meet the needs of borrowers constrained by time and market conditions who must proceed immediately or risk losing deals.

Wolfer says that traditional lenders are too bureaucratic and mired in tiers of decision-makers that delay the loan process.

“In today’s marketplace deals occur in real-time and those companies or individuals that fail to react quickly are at a severe competitive disadvantage,” adds Wolfer.
Known nationally and internationally as a resourceful, key lender for commercial real estate projects of every type, Kennedy branched out beyond its national service area into commercial loans in the international arena in the mid-1990s.

Kennedy has expanded its lending scope to include enterprises across a wide variety of industries, including: commercial real estate, resorts and lodging, golf course development, sports complexes, media (TV and radio stations), retail, airlines, and a diverse range of business enterprises.