6D — November 18 - December 22, 2022 — The Lenders Directory — M id A tlantic Real Estate Journal
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T he L enders D irectory
Direct private lender successfully closes another land loan abroad Kennedy Funding closes $3.65 Million land loan in Lima, Peru
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closure of a $2.5 million loan intended for use in a moun- tainous, inland Peruvian city. The firm has earned an inter - national reputation for closing loans that other U.S.-based institutions often don’t con- sider at all. The firm has closed deals in Brazil, Colombia, Belize, Bahamas, Cozumel, Jamaica, St. Barts, and the Dominican Republic, among other international locales. “We are proud to have closed another loan in Peru,” said Wolfer. “We receive loan requests from all over South America, and we are one of few lenders that can close them. We will always con - tinue to bridge that gap in the marketplace.” About Kennedy Funding Kennedy Funding is a global direct private lender specializ - ing in bridge loans for commer - cial property and land acquisi- tion, development, workouts, bankruptcies, and foreclo - sures. 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. MAREJ
NGLEWOOD, NJ — It is virtually impossible to find a lender willing or
able to close deals on raw land outside the U.S. That is why Concreto Design Stu- dio S.A.C. turned to Kennedy
Kevin Wolfer
Funding , a leading U.S.- based direct private lender. Through Kennedy Fund - ing, Concreto Design Studio S.A.C. secured a $3.65 mil - lion land loan in Lima, the capital of Peru. The loan will be used to fund the construc - tion of a 22-story apartment building on 27 acres of raw land in the city. According to Kevin Wolfer , CEO of Kennedy Funding, closing loans outside the U.S., especially land loans, can be challenging – but Kennedy Funding has both the track record and the extensive re - lationships abroad required to successfully fund deals in South America. “To do business in Peru and in other countries outside the U.S., you need to work with an experienced lender who understands the political landscape, real estate market, and the law as it pertains to real estate deals,” said Wolfer.
Through Kennedy Funding, Concreto Design Studio S.A.C. secured a $3.65 million land loan in Lima.
“Only these experts know how to comply with the labyrinth of local laws and paperwork that come with real estate, environ - mental, land use, and title.” Wolfer added that the trans- action can get more compli- cated once land is involved, as raw land is inherently deemed risky by most lenders. “Accurate valuations outside the U.S. are especially vital to do the right way,” Wolfer added. “We work with large, respected global real estate firms like CBRE, Colliers, Newmark, and other on-loca - tion experts to properly assess
the property, so that we can provide the largest possible loans to our borrowers.” Francisco Piera , presi- dent of Alpha Lending & Investments , the Miami- based advisory firm who rep - resented the Argentinian bor - rower, said the developer was seeking funding for years. “They had 3-4 offers from other lenders, but I knew only Kennedy could close,” adds Piera. “Those other lenders had rates higher than Kennedy, too. A loan from Kennedy is a lot cheaper and less headaches than having a
partner,” he said. Lima is among the most populous cities in the Ameri - cas, and is Peru’s political, financial, and cultural center. It lies directly on the Pacific Ocean, within the desert zone that comprises much of South America’s west coast. Its popu - lation of more than 11 million has increased in recent years, forging a demand for housing. “This apartment building is being built in a city full of metropolitan life, in a country rich with history,” Wolfer said. This loan closure follows a previous Kennedy Funding
Meridian works hand-in-hand with the lending community to develop innovative products & solutions to lead the market forward
to maintain a robust network of lenders. We pride ourselves on our nimbleness and ability to proactively find the best sources in the market and uti- lize our lender relationships to continue executing deals. Name some of your most unique qualities/reasons why someone should do business with your finan - cial institution? At Meridian, we have a long, hard-earned reputation for our ability to treat every deal as the most important deal we have ever done. We scour the financing market relentlessly and use our large deal flow to leverage the best available debt for our clients. MAREJ
David Cohen Managing Director Meridian Capital Group Headquarters: 1 Battery Park Plaza, New York, NY 10004 Number of CRE specialist: <100 Years with company/firm: 16 Years in field: 20
matter the size, but this year we notably had multiple larger transactions over $100MM that closed effectively, includ- ing one large multifamily proj- ect in Virginia where we suc - cessfully bifurcated the project into a pool of lending sources, including balance sheet and agency execution to provide a curated loan that accomplished client needs for internal rate of return while maintaining maximum flexibility.
Area of Interest: All fac - ets of commercial real estate including multifamily, office, retail, construction, and mo- bile home communities Who is your target market? I target large-scale owners of commercial real estate with a heavy focus on multifamily owner-operators. What is your most note- worthy transaction or proj- ect this year? I value every transaction, no
market evolves, I am adapting alongside it focusing on asset preservation and long-term growth opportunities. What separates you from the competition? Our large deal flow allows us
Where do you think your largest growth area is and why? In 2022, I worked on a sub - stantial amount of value-add acquisitions and targeted eq- uity return refinances. As the
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