18A — December 14 - 27, 2018 — Financial Digest — M id A tlantic
Real Estate Journal
www.marejournal.com
F inancial D igest
Funds to be used for working capital by leading global forensics investigation firm Kennedy Funding closes $3.2 million loan to Maryland Engineering Firm
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capitalize. Barnes referred the borrower to Kennedy Funding to help secure capital, but time was of the essence. “Our ability to close loans fast is based on a borrower’s ability to provide the checklis- titems including, but not lim- ited to an up-to-date appraisal, a clean environmental report, and clear title,” said Kevin Wolfer , principal and CEO of Kennedy Funding. “With all these documents in hand, we are able to get the loan the bor- rower needed in record time.” After obtaining the required documents, the borrowing pro- cess moved seamlessly, and RTI Forensics obtained the nec- essary funds in the nick of time. “Conventional lending ave- nues can take months to review and approve a borrower’s ap- plication, but borrowers don’t always have months to wait, and this is where we thrive,” said Wolfer. “It’s essential for us to move as quickly as pos- sible, so we’ve perfected our procedures. Core to that is staying organized and clearly communicating the necessary steps to all parties involved.” Barnes said that Kenne- dy Funding’s principals were speedy professionals who fol- lowed through on a tight, ur- gent deadline. “The principals at Kennedy Funding were extremely clear in explaining the requirements to close on a loan, and that’s one of the reasons why we were able to move so quickly to close,” Barnes said. “I think they could close a loan even faster than 10 days.” RTI Forensics specializes in accident investigation, fail- ure investigation, and safety management. The firm, which opened in 1975, acquired the 4.05-acre property in 2011 and completed its headquarters in 2013. The multi-floor building has ample meeting and confer- ence room space, with areas dedicated to laboratories, offic- es, and storage. An additional 4,800 square feet is available for future expansion or an ad- ditional building tenant. Stevensville is located on Kent Island in the Chesa- peake Bay located directly across fromMaryland’s capital, Annapolis. Connected to the mainland by the Chesapeake Bay Bridge (U.S. Highway 50), the complex is located ap- proximately 45 minutes from Baltimore and 1 hour from Washington, D.C.
ital Advisors and a general debt advisor to RTI Forensics, the engineering firm related to the borrower. “Kennedy Fund- ing closed the loan in just 10 days. They managed the entire process well from beginning to end.” Proceeds from the loan will be used toward debt repay- ment and working capital for RTI Forensics’ 46,053 s/f headquarters located at 401 Log Canoe Circle in the Chesa- peake Bay Business Park, Stevensville. According to Barnes, the borrower needed funds to re-
TEVENSVILLE, MD — Kennedy Funding , an Englewood Cliffs, NJ-
based global di rec t pr i - vate lender announced t h a t t h e y closed a $3.2 million loan to Reynolds E s t a t e s , LLC.
Kevin Wolfer
“Once all of the documen- tation was completed and submitted, the process moved incredibly fast,” said Lamar Barnes , principal of BWCap-
401 Log Canoe Circle
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