Plant City, FL, September 01, 2006 — Picture a golf course in Plant City, Hillsborough County, Florida. It’s not just a golf course, but a 400-acre tract consisting of a clubhouse with restaurant and full-service kitchen, meeting rooms, pro shop and offices, six outside fully lit tennis courts, an Olympic-sized outdoor pool, fitness center, and two 18-hole, 72-par golf courses designed by Ron Garl. It’s even rumored that the championship courses were actually designed (although not signed) by the legendary Jack Nicklaus. The two courses, the 6,530-yard Lakes Course, and the 6,561-yard Hill Course are interlaced among the Walden Lake residential subdivision consisting of more than a dozen neighborhoods. All in all, it’s an idyllic setting. There’s even a potential for a hotel to go up next to the clubhouse, which could further add to the property’s value and income-producing ability. Small wonder that Steve Mercer of Vision Golf, LLC wanted to buy it.

In order to do that, he needed a loan. He was offering the property as collateral, and didn’t foresee any great difficulty, and he wanted to close as quickly as possible. But when he couldn’t find the needed loan after several attempts, he was faced with the possibility of having to revise his timeline. It’s a good thing he discovered Kennedy Funding, because this is the kind of deal that’s right up Kennedy’s alley.

Kennedy Funding is a direct private lender headquartered in Hackensack, New Jersey specializing in unconventional financing where speed and attention to special circumstances are critical. And this unique lending program has made them one of the largest, most successful lenders in the country — as Steve Mercer fortunately found out. “I’m glad we found them,” said Mercer. “This deal was complex, involving a large, irregularly shaped piece of land, and there were, frankly, some problems. We had a few hiccups
on our end. But Jeff and his staff worked through everything, and ended up finalizing the deal extraordinarily quickly. In fact, my advisor told me that deals like this normally take three to six months to close, and Kennedy closed in about five weeks.”

Jeffrey Wolfer, President and Co-CEO of Kennedy Funding, was happy to be of service. “There were a few problems we had to overcome with this deal, but we’ve encountered similar kinds of things many times before,” he said. “We pride ourselves on our creative thinking, and our ability to deliver quickly. In fact, our reputation in the marketplace is built around creativity and speed, and we sincerely believe that no one can match us in either category. In Steve’s case, we had handled golf course transactions prior to his, and were able to satisfy all parties in a relatively short amount of time.” In addition, Mercer’s country club is about to get a shot in the arm, as his only real competitor, Plant City Golf Club, is slated to close in the near future because it’s located on leased land, and the land owner has decided not to renew the lease — even more good news for Steve Mercer.

Kennedy Funding can issue loan commitments in as little as 24 hours, which often leads to closings in as few as five days and, in some cases when time is critical, even less. Available financing ranges from $1 million to over $100 million. The staff at Kennedy Funding is skilled in a wide range of business sectors, and focuses an impressive amount of expertise, experience, and dedication on each loan request. While specializing in commercial real estate bridge loans, Kennedy’s flexibility and diversity has also resulted in loans for a wide range of
enterprises, including amusement parks, high-profile golf courses, TV and radio stations, airlines, and sports complexes. Throughout the world, Kennedy has produced funds for conventional and unconventional projects, often succeeding where other financial institutions cannot. Kennedy can fund up to 75% loan-to-value for commercial land development, acquisitions, workouts, refinancing, bankruptcies, and foreclosures.