8A — October 22 - November 18, 2021 — Financial Digest — M id A tlantic Real Estate Journal
F inancial D igest
Private lender’s hard money loan will be used to fund construction for residential project Kennedy Funding places $2.5 Million land loan in Tarapoto, Peru wood Cliffs-based direct pri- vate lender. huge challenges in closing a loan outside the US.
and knew that there were spe- cial circumstances that would require their services,” said Alex Stiglich, South Pa- cific Funds and Commerce Limited , who represented the borrower. “Commercial banks and other conventional lenders just ask for too many things, and particularly if time is of the essence, there’s no chance to close,” he said. “Kennedy is more flexible in so many ways. They focus exclusively on the collateral. That’s how they get the deal done. I trust them 100% with their ability to close.”
On September 10, Kennedy Funding closed on a $2.5 mil- lion land loan to Allan Con- strucciones S.A.C. to fund the construction of their resi- dential project. The loan will be used initially for working capital. The loan was secured by two pieces of land — 26,326.89 square meters of land located at Jr. Jose Galvez C-08 Tarap- oto, Peru, and 145,109 square meters of land located at Par- cel 0639141 Oxapampa, Pasco, Peru. The site is currently raw land. Kevin Wolfer , CEO of Ken- nedy Funding, said there are
N G L E W O O D CLIFFS, NJ —Accord- ing to Kennedy Fund-
Kennedy Fund i ng has earned a worldwide reputation for closing loans when others cannot. Loans on land have become one of their success- ful in-demand loan products. They have successfully closed over $3 billion in loans, much of it on land, all over the world: Belize, Brazil, Colombia, Do- minican Republic, Jamaica, St. Barts, and many countries and continents, including loans throughout the US and Canada. “I met with Kennedy’s man- agement team a long time ago
“It takes an experienced lender like Kennedy Funding to do business in Peru,” Wolfer said. “You have to navigate through the maze of local laws and mounds of paperwork pertaining to real estate, land use, title and environmental. Securing an accurate property appraisal in an unknown coun- try is vital, particularly when it’s raw land – that is why Kennedy uses world-renowned firms like CBRE . We can count on them so we can offer the highest loan amount pos- sible to our borrowers.” “Allan Construcciones was able to provide us with two prime parcels in different parts of the country,” he said. “They are located in areas that were attractive to us as lenders, and each has a rich history.” Tarapoto is a commercial hub town located in the San Martin Province in northern Peru; although Moyobamba is the capital of the region, Tarapoto is the region’s largest city. It is located 356 meters above sea level on the high jungle plateau, also called the cloud forest. It was founded in 1782 by Baltazar Martinez Jimenez de Compagnon. Ac- cording to the 2017 census, it has a total population of 310,073, including the Mo- rales and Banda de Shilcayo districts. The region’s main activities are tourism, com- merce, and agriculture. “We are proud to have been able to close this loan in Peru,” adds Wolfer. “We have a large pipeline of loan requests from all over South America. Other lenders can’t close these types of loans. We can. We look for- ward to filling that void 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 $3 billion in loans to date. Their 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
i n g , t he r e are roughly 5,771 com- mercial lend- ers in the US. I f you ask one of them if they would – or could – close a land
loan in the hills of Tarapoto, Peru, the answer would be a resounding “no.” That is why a Coral Springs, Florida, broker sought out Kennedy Funding, an Engle-
$2,500,000 Just closed Working Capital, Oxapampa and Tarapoto, Peru
A trek to Peru. A loan secured by not one but two pieces of land. Just another day for Kennedy – going and funding where traditional lenders can’t. With a team of loan specialists, we navigate through any jungle of local laws, regulations, and requirements to provide the flexible funding solution, right for your vision. With unparalleled industry expertise and over $3 billion in closed loans, why would you go anywhere else?
Call 1-800-342-8500 to close by December 31st.
land, development and acquisitions, bankruptcies, discounted payoffs, note purchases, workouts and foreclosures
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