24A — May 21 - June 17, 2021 — Financial Digest — M id A tlantic Real Estate Journal
F inancial D igest
Firm welcomes international borrowers Kennedy Funding closes $2.64M land loan in Brazil
tional borrowers, and we have consistently proven that we are able to close successfully.” The lender has closed more than $3 billion in loans, in- cluding many loans in sev- eral other South American and Central American coun- tries, and throughout the Car ibbean, inc luding Co- lombia, Belize, Dominican Republic,and Jamaica. “Few lenders are confident in their ability to successfully close loans abroad,” Wolfer said. “Not only do the laws that govern lending and real estate vary wildly from coun- try to country, but your lender needs to be knowledgeable of the economic and political landscape and know how to work around any challenges. At Kennedy, we have the long- standing relationships on the ground –and the firsthand knowledge – that are vital to closing in several countries abroad, including Brazil.” João Pedro Fonseca Cos- ta, president of Savel Capital Partners , the Portugal-based broker that represented the borrower, added that Kennedy Funding is the only lender that can do land deals. “They are fast and responsive and you can count on them to close.”” The property being developed
by Scariot Agro Business is located a few miles from down- town Camaçari, an industrial city in Bahia in the Salvador metropolitan region. Near major highways, industrial properties, and commerce, the property is already serviced by water, sewage, drainage, telephone, electrical, and paved roads with –curbs and gutters. The property is zoned for trade ex- pansion. “The site is ready for Scariot Agro Business to start their expansion right away,” Wolfer said. “Thanks to our loan, the borrower can continue to grow and serve the entire Salvador region.” Kennedy Funding is a global direct private lender special- izing in bridge loans for com- mercial property and land acquisition, development, workouts, bankruptcies, and foreclosures. Kennedy Fund- ing has closed more than $3 billion in loans to date. Their creative financing 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 CLIFFS, NJ — Kennedy Fund- ing has once again closed
an interna- tional land loan during challenging economic and geopolitical times. The Engle- wood Cliffs, New Je r -
3-month free trial
sey-based direct private lender announced that it has closed a $2.64 million agricultural land loan to Scariot Agro Business LLC. Loan proceeds will be used as working capital to grow the company’s farming busi- ness on a 78.775-acre tract near downtown, Camaçari, Brazil. “Few Amer i can lenders would even consider doing business in Brazil or any South American country,” said Kevin Wolfer , president and CEO, Kennedy Funding.“Local laws and red tape make the closing process arduous and nearly impossible, not to mention the fact that this is an agricul- tural land loan. Who lends on farmland these days? No other lender would take on the risk, especially in today’s economic and political climate. “We l ove land, ” added Wolfer.“We welcome interna-
Mid Atlantic Real Estate Journal
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