Kennedy Funding, a prominent global direct private lender, has successfully closed a $2.75 million land loan for a 420-unit multi-family project in Kansas City, Missouri. The borrower, LOF GP, LLC, acquired the 31.51-acre property known as Kimpton Falls in April 2023 for $4.5 million, utilizing the loan from Kennedy Funding for working capital and cash-out purposes.
Steven Wilson, President of Barefoot Mortgage in Austin, Texas, who served as the broker on the transaction, highlighted Kennedy Funding’s capacity to provide competitive funding solutions where other lenders may falter. “Kennedy’s interest rates were superior, with lower prices than others, and a fee structure that was far more competitive,” he remarked, emphasizing their professionalism and responsiveness.
Strategically situated, Kimpton Falls enjoys a prime location just a 22-minute drive from Downtown Kansas City and 13.7 miles from the Kansas City International Airport. Surrounded by major highways and state routes, the property offers seamless access and high visibility. Additionally, the area boasts a variety of national retailers, residential communities, schools, cafes, parks, and supermarkets within a four-mile radius.
Kevin Wolfer, CEO/President of Kennedy Funding, expressed confidence in the project’s future success, attributing it to the property’s advantageous location and the thorough due diligence conducted by Kennedy Funding. “Where traditional lenders see obstacles, we see opportunities,” stated Executive Loan Officer Mark Falzone, highlighting Kennedy Funding’s expertise in delivering funding solutions for land acquisition and development.
Kennedy Funding’s streamlined process, devoid of bureaucratic red tape and cumbersome loan provisions, enables swift turnaround times on loan closings. Specializing in acquisitions, working capital, refinancing, and cash-outs, Kennedy Funding serves a global clientele across various regions.
With over $4 billion in closed loans, Kennedy Funding’s creative financing expertise and commitment to flexibility affirm its position as a dependable nationwide direct private lender.
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By Proptechbuzz
By Ravi Kumar