4A — March 2026 — Financial — M id A tlantic Real Estate Journal
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F inancial
ALTIMORE, MD — Kennedy Funding has closed a $1.12 mil - Ethiopian borrower overcomes challenges of sourcing financing for real estate investment Kennedy Funding closes $1.12M loan to foreign national for purchase of 19-unit apt. building B
borrowers frequently face ad - ditional scrutiny and delays. We were able to focus on the strength of the asset, the occu - pancy level, and the borrower’s equity contribution to structure a solution that worked.” Recognized as one of the lead - ing private land loan lenders in the world, Kennedy Funding specializes in closing complex loans quickly — often in as little as five days. As a direct lender, the firm lends its own capital without delays from loan committee bureaucratic red tape. Loans range from $1 million ($3 million inter - nationally) up to $50 million. Kennedy Funding presi - dent and CEO Kevin Wolfer added that the firm’s lending decisions are driven by the strength of the real estate rath - er than the borrower’s profile. “We look at the complete pic - ture,” said Wolfer. “In this case,
the property was 95% occupied, and the borrower brought sub - stantial cash equity. Our role is to recognize opportunity and provide capital when the oppor - tunity works — even if the bor - rower doesn’t fit a conventional banking model.” 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 foreclosures. Kennedy Funding has closed more than $4 billion in loans to date. Their creative financing expertise provides funding up to 75% loan-to-value, from $1 mil - lion ($3 million internationally) 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
lion loan to finance the acquisition of a 19-unit apartment building in Baltimore, Maryland, for a foreign national investor.
1214 Walker Ave. in northeast Baltimore, MD
borrower contributing 45% cash equity, while the firm provided the remaining 55% of the capi - tal to complete the purchase. The property consists of a 19- unit garden-style apartment complex, including 12 two- bedroom/one-bath units and six one-bedroom/one-bath units, and was approximately 95% occupied at closing. Located in the Idlewood area of Baltimore, within the Idlewood/Glen Oaks/ Lake Walker submarket, the asset benefits from strong resi - dential demand in a stabilized
neighborhood setting. Foreign national borrowers often encounter addition - al documentation require - ments, reserve mandates, and extended approval time - lines when dealing with traditional lenders. “This deal reflects what we do every day — finance trans - actions that conventional lend - ers are not equipped to handle,” said Edwin Urrego , execu - tive loan officer at Kennedy Funding, who originated the transaction. “Foreign national
Edwin Urrego
The Ethiopian borrower, Cityana International Business, LLC , led by Sisay Menji Assena, is acquiring the property at 1214 Walker Ave. in northeast Baltimore. Because the borrower is a foreign national, securing con - ventional financing presented significant challenges, par - ticularly within the required acquisition timeline. Kennedy Funding struc - tured the transaction with the
G.S. Wilcox & Co. arranges $25.5M across two transactions
ACRE Capital funds $37 Million PA multifamily deal Berkadia Lands financing for Luxor Bala Cynwyd and Virginia asset
secured by a $10.5 million ac - quisition loan on a 16-year self- liquidating term at a highly at -
HATFIELD, PA / WAYNE, NJ — G.S. Wilcox & Co. has completed $25.5 million
in combined financing for a 125,000 s/f industrial property in Hatfield, PA, and a 70,000 s/f industrial property in Wayne, NJ.
tractive rate. The building was fully oc - cupied by two tenants with long-term leases. In Wayne, the property is a single ten -
PENNSYLVANIA & VIR- GINIA — Berkadia arranged an acquisition loan on behalf of a joint venture for the acquisi - tion of Luxor Bala Cynwyd, a 173-unit, luxury multifamily community located in Bala Cynwyd, PA. Senior managing director Patrick McGlohn , managing director Brian Gould , senior director Hunter Wood ,VP Patrick Cunningham and as- sociate director Natalie Her- shey of Berkadia DC Metro secured a $37 million acquisi - tion loan from ACRE Capital on behalf of the buyer – a joint venture between Alliance Residential of Scottsdale, AZ and PCCP of Los Angeles. Completed in 2021 and lo - cated at 9 Presidential Blvd., Luxor Bala Cynwyd features a mix of studio, one- and two- bedroom residences ranging from 497 to 1,157 s/f. In a second transaction, Berkadia arranged the sale and financing of Compass at City Center, a 396-unit, garden-style multifamily com - munity located in Newport News, VA. Senior managing director Drew White , managing direc - tor Carter Wood , and direc - tor Cole Carns of Berkadia’s
Bridget Wilcox
Al Raymond
Both financings were arranged by Bridget Wilcox , partner, and Al Raymond , principal, and were funded by two of the firm’s correspondent life insurance company relationships. The Hatfield property was MARLTON, NJ — Nation- al Integrity Title Agency (NITA) , a full-service title insurance and settlement agency serving the commer - cial and residential real es - tate markets, announced the launch of Robin 2.0, the next evolution of its digital assis - tant designed to strengthen communication, security and transparency throughout the closing process. Powered by CloseSimple, Robin 2.0 reflects NITA’s continued investment in forward-looking technology that supports its clients and stakeholders while reinforc - ing the company’s people-first
ant class A industrial warehouse. The $15 million loan was deliv - ered with a 3-year interest only loan at a highly competitive rate. G.S. Wilcox & Co. also originally arranged construction financing for the property. MAREJ approach. The enhanced plat - form consolidates transac - tion updates, documents and communication into a single, secure, company-branded web- based portal, providing real- time visibility from contract through closing. Robin 2.0 was developed to support realtors, lenders, and homeowners alike. Automated updates help realtors stay informed and manage expecta - tions, centralized dashboards streamline lender communica - tion, and homeowners benefit from a clear, easy-to-follow view of progress and next steps. MAREJ
Luxor Bala Cynwyd
NITA debuts Robin 2.0 closing platform
Compass at City Center
Richmond office represented the seller, C-III Capital Part- ners , along with Drucker & Falk . A joint venture between Penzance – a fully integrated real estate owner, operator, developer, and fund manager – and Kettler acquired the prop - erty on December 16, 2025. McGlohn, Gould, Wood, Cun - ningham and Hershey secured
an acquisition loan on behalf of Penzance and Kettler. Located at 501-A Waters Edge Dr., Compass at City Center was built in 1985 and comprises 33 three-story buildings situated on a 25- acre site. The community offers a mix of one-, two-, and three-bedroom floor plans av - eraging 995 s/f. MAREJ
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