4th annual Kennedy Funding Invitational to be held July 8-12 at Dellwood Country Club in New City, NY
HACKENSACK, NJ — Passion and commitment have not only made Kennedy Funding the nation’s leading direct private lender, they’ve also helped the charity tennis tournament we began four years ago become one of the premier events of its kind.
The Kennedy Funding Invitational combines the excitement and competition of world-class tennis with the fight against breast cancer. Each summer, tennis professionals and fans gather, with the goal of improving the diagnostic capabilities and care at two outstanding breast care centers in Englewood, NJ and Nyack, NY. Now in its fourth year, the event will again be held at Dellwood Country Club in New City, NY between July 8-12 and promises to be even bigger and better than ever.
In addition to outstanding competition, the celebrity exhibition match has become a traditional highlight of the five-day event. Past participants have included former champions Pete Sampras and John McEnroe. This year, we’re proud to have one of the all time greats, Andre Agassi join the cause, playing in the exhibition match and appearing at various events throughout the tournament. Continue reading 'Tennis legend Andre Agassi joins Kennedy Funding in the fight against breast cancer.'»
HACKENSACK, NEW JERSEY - January 20, 2009 — Kennedy Funding, a leading direct private lender based in Hackensack, NJ, has closed a $820,000 loan to Oracle Business Development, LLC. The loan will enable the owner to purchase a 1.03-acre site (zoned for light industrial), and an existing 5,400-square foot main building (that houses a vacant machine shop and four other active businesses) on the island of St. Croix in the United States Virgin Islands. The site itself, plus a nearby 1.29-acre residential property, is being used as collateral.
Like most real estate markets, property values in St. Croix have declined.
The occupied industrial building is leased, but the current terms are only short-term. The largest section of the building, the machine shop, is not currently rented. Needless to say, banks were not eager to close on this
loan with its current lease structure and vacancies.
The developer knew that the best chance was with Kennedy Funding. After carefully evaluating the property, the surrounding area and economy, and the prospects for the future, Kennedy committed to the loan and expedited the loan process. Continue reading 'Loan from Kennedy Funding helps buy buildings, business and equipment in paradise.'»
CITY OF LAKE FOREST, HACKENSACK, NEW JERSEY— Kennedy Funding, a leading direct private lender based in Hackensack, NJ, has closed $1,321,000 loan to Kill Mountain Realty, LLC. The loan will enable the developer to continue work on 48.5-acres of land that is part of a 200-acre Phase III development in Hebron, New Hampshire. The 48.5 acres are planned for 17 residential condominium lots. The developer plans to refinance present debt and complete the lots by installing power lines and completing the roadways.
Set on a picturesque New Hampshire mountainside, the property offers a bucolic setting and magnificent views of Newfound Lake in nearby Grafton. Plans had been progressing nicely, until the current financial crisis changed the real estate market.
The developer looked to Kennedy Funding to assist their progress. Kennedy needed to reevaluate the land, even though a complete evaluation had been done just three months earlier. All aspects involved had to be reconsidered in order to get an accurate value of the property and a valid analysis of the current situation. Continue reading 'Despite a sinking market, Kennedy Funding’s $1.321 million loan keeps residential project rising in New Hampshire mountains'»
CITY OF LAKE FOREST, CA, December 2, 2008 — Kennedy Funding, a leading direct private lender based in Hackensack, NJ, has closed a loan for $3,614,000 to Rancho Portola Investments, LLC. The loan is to help the developer continue work on a much-talked-about residential project in the City of Lake Forest in Orange County, California. The area is centrally located between Los Angeles and San Diego. When complete, the development would encompass a total of nearly 230 acres and would offer between 600 and 626 residential units and 30,000-40,000 sf of commercial space.
Everyone involved with the property and the project had to wait out the lengthy, drawn-out zoning, approval and permit processes. Finally, when it was determined that the nearby airport was to be decommissioned and the adjacent properties would be approved for residential use, the waiting was over.
At that point, capital was the problem, and in a slow market, securing a commercial mortgage with only the raw land as collateral is no easy task. Unless you call Kennedy Funding. Continue reading 'Market slows, but Kennedy Funding’s $3.614 million loan keeps residential project moving for California developer'»
In a market where closed loans are rare, Kennedy comes through quickly.
LAKE HILLS, TEXAS, November 6, 2008 — In one of the most difficult lending markets in history, Kennedy Funding continues to not only close loans, but continues to close raw land loans. Case in point: Kennedy’s recent multi-million-dollar working capital loan to JMJJ, LLC for their planned lakefront, gated golf course community, Medina Lake Estates. The 607.58-acre property, located approximately 25 miles northwest of San Antonio, includes lakefront acreage on Lake Medina.
Across the nation, everyone is aware of the downturn of both the real estate and credit markets. Strong buyers with excellent credit can find it difficult to secure financing for partially completed projects in prime locations. Raw land loans, secured only by undeveloped property are all but unheard of. This quickly became evident to developer JMJJ, LLC as they sought funding to keep the Medina Lake Estates project moving along on schedule. Continue reading 'Kennedy Funding closes multi-million-dollar raw land loan for Texas developer'»
In the midst of the nation’s worst credit crisis, the Hackensack, NJ lender closes loan for space in 60-story condo tower overlooking Biscayne Bay
MIAMI, FL., October 20, 2008 - Kennedy Funding, one of the nation’s largest direct private lenders, has closed a $10.14 million loan to 888 Biscayne Enterprises, LLC. The loan is for the acquisition of the four-story commercial space in the recently completed Marina Blue Condominium building overlooking Biscayne Bay at 888 Biscayne Boulevard in Miami, Florida. The unfinished commercial space is comprised of four stories (three floors plus one mezzanine) and totals 44,000 square feet. Included with the commercial space are two terraces for outdoor seating and 185 dedicated parking spaces (50 more than required for the space) in the condominium building’s multi-level garage. Continue reading 'Kennedy Funding closes $10.14 million loan for waterfront commercial space in Miami'»
HACKENSACK, N.J., October 09 — The Blackwell Human Services Campus in Philadelphia, Pennsylvania had been instrumental in providing humane treatment for some of society’s most disenfranchised individuals, the mentally ill, since the 19th century. The organization was originally known as Kirkbride Center, after Dr. Thomas Story Kirkbride, who designed the original 1840 building, served as the Center’s Administrator/Medical Director, and became renowned for championing mental health therapy. Thanks to his guidance over the years, the Center developed a reputation for innovation in the clinical and psychological arenas. And although much has changed since its founding, the institution has never strayed from its mission to provide compassionate care to people struggling with mental illness.
Today, its campus situated in peacefully rural surroundings, Blackwell provides care to people suffering from depression, schizophrenia, alcoholism, and drug addiction. Sadly, however, all was not well with Blackwell itself, and they urgently needed help in the summer of 2007. Continue reading '$15.1 Million Loan from Kennedy Funding Provides'»
HACKENSACK, N.J., October 03 – It was the vision of developer Costa Blanca II that the Tierra del Sol resort community in Orlando, Florida be designed as an exercise in luxury living. Set on 120 acres, the development would offer 540 townhome units, 432 condominium units, an expansive clubhouse with virtually every conceivable amenity, and panoramic views toward nearby Walt Disney World and the surrounding countryside. But thepièce de résistance would be one of Florida’s largest water complexes, featuring a wave pool, Flowrider surfing pool, lazy river, swimming pools, water slides, secluded spas, and a four-story children’s water park. The community was to be nothing less than a Mediterranean jewel set amidst a tropical garden.
If, that is, Costa Blanca II could find a lender to give them a development loan. They wanted to put up 38 acres on the east side of the property as collateral and, of course, they wanted the loan to close quickly – the faster they closed, the faster they could build. Such a loan wasn’t so easy to locate, however, as the majority of lenders were tending to bow out of the Florida land market entirely. Plans could have come to a screeching halt . . . had they not found Kennedy Funding. Continue reading '$29.3 Million Loan from Kennedy Funding Helps Florida Developer Make a Big Splash with Luxury Residential Community and Water Park Complex'»
‘World’s greatest athlete’ joins forces with America’s leading private lender on promotional campaign
HACKENSACK, NJ, September 23, 2008 — American hero Bryan Clay, decathlon gold medalist from the 2008 Olympic Games in Beijing, will appear in advertising and promotions for Kennedy Funding of Hackensack, NJ, the nation’s leading direct private lender.
Specifics regarding the campaign or its planned media schedule have not yet been announced, but an initial photo shoot recently took place with Clay at Delbarton High School, a private academy in northern New Jersey. Flying in from a busy schedule of appearances that included the Republican National Convention and ringing the closing bell at the New York Stock Exchange, Clay worked with the team from Results Advertising of Hasbrouck Heights, NJ, advertising agency for Kennedy Funding before he took time out from posing to speak with the students of Delbarton. Continue reading 'Bryan Clay, Olympic decathlon gold medalist, teams up with Kennedy Funding'»
NEW YORK, NY, September 3, 2008 — Kennedy Funding, a leading direct private lender based in Hackensack, NJ, has closed a $5 million loan to 24 East 23rd Commercial, LLC. The loan is to help the developer continue work on a much-talked-about luxury residential project in the Flatiron district of Manhattan. With a dramatic 60-story high-end condominium tower, One Madison Park, already under construction, the developer needed funding for development costs for 23 East 22nd Street, yet another luxury condominium tower to be built directly behind One Madison Park.
Though not yet complete, the building has drawn a tremendous amount of attention in the press because of its size, unique design and highly desirable location facing Madison Square Park. Continue reading 'Kennedy Funding closes $5 million loan on landmark NYC residential tower'»
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