6 — November 2025 — Lenders Directory — Financial — M id A tlantic Real Estate Journal
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Lenders Directory
NJ lender closed loan after previous lender backed out Kennedy Funding closes $2.05 Million Texas land loan
Breaking bank rules: Red Star Mortgage delivers fast, flexible CRE loans
Gary Polao Executive Managing Director Red Star Mortgage Headquarters: Philadelphia Years with company/firm: 20+ Years Years in field: 20+ Years
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“Our process is about lend- ing based on the project’s po- tential,” Urrego said. “Nearly 178,000 people moved to Dallas between July 2023 and July 2024. They all need a place to live, which makes projects like this one spearheaded by The Beach Dallas highly lucrative.” The property is located in an area of South Dallas that’s well- serviced by a broader regional highway network, including Interstate 20. Residents of the future housing development at 2700 Simpson Stuart Rd. will have easy access to downtown Dallas and Dallas Fort Worth International Airport. The future development is located near two colleges, University of North Texas — Dallas and Paul Quinn College. The area’s highly skilled workforce, in turn, is highly desirable to the growing number of companies opening offices in, or relocating to, the Dallas-Fort Worth area. “Half of the fastest-growing cities in the U.S. are in Texas, presenting an incredible op- portunity for borrowers like The Beach Dallas to invest in their communities,” said Kevin Wolfer , CEO and president, Kennedy Funding. He added that this is the sec- ond Dallas-area loan the direct private lending firm closed this year. MAREJ
NGLEWOOD, NJ — Some much-needed new housing is coming to one
tian Toxboe . “Edwin and the Kennedy team came through for us, especially after going through the ringer with the other lender. They were abso- lutely amazing to work with.” “What happened to Chris- tian could have happened to anyone, and it illustrates just how often we see borrowers up against the clock because other lenders can’t close on time,” said Edwin Urrego , Executive Loan Officer at Kennedy Funding. “That’s why choosing the right lender is often the difference be- tween success and failure — and saving or losing huge amounts of money.” Even when the borrower’s credit is an issue, as in this case, Kennedy can close a land loan fast and on time for virtu- ally any purpose: acquisition, development, workout — you name it,” he adds. “Banks and other traditional lenders won’t even look at the deal.” “We’re not scrutinizing your credit history when we evalu- ate the current opportunity that’s on the table,” he said. That same logic — focusing on the deal itself and the value of the land — is why Kennedy wasn’t deterred from lending on a project in Dallas, a city known for its lengthy and strict permitting process.
of America’s fastest-grow- ing metro- politan areas. New Jer- sey-based di- rect private lender Ken- nedy Fund- ing closed a
Area of Interest: Non-Bank Lending - Small Balance Commercial Real Estate Loans for Owner User & Investment property Na- tionwide, loan sized typically under $5MM. Who is your target market? Owners and Users of debt capital for income produc- ing commercial real estate. Sponsors that are frustrated with banks rigid guidelines and long time lines come to us for quick execution and attention to their deals along with the longest terms available for commercial mortgages – 30 YEARS! What separates you from the competition? We underwrite the PROP- ERTY to ensure debt service support, NOT the borrower. Unlike banks, we look to the property and are not con-
Edwin Urrego
$2,050,000 loan to The Beach Dallas LLC, to acquire 62.696 acres of raw land at 2700 Simp- son Stuart Rd. in Dallas, TX. The borrower is under contract to acquire the property for $3 million, and Kennedy has agreed to permit the seller to hold $1.095 million in the form of a second mortgage behind its loan. Kennedy Funding was re- ferred to the borrower by a broker who knew the direct private lender’s reputation for fast closings. The borrower’s initial lender failed to deliver after three years under con- tract to buy the property. “We went through the entire process — completed all the documentation, performed due diligence. All of a sudden, our lender closed their office and their phones were shut off. They were out of business,” said the borrower, Chris-
cerned with personal income or global cash-flows. Name some of your most unique qualities/reasons why someone should do business with your finan - cial institution? As a non-bank private lend- er, we lend on all deals that make sense. Common Sense underwriting and approv- als based on understanding the “Story” of the deal. It’s easy,we look at the property, the borrower and the loan request and if it makes sense, we APPROVE! MAREJ
MMCC arranges $9 Million financing for Norfolk, VA hospitality property
JLL secures construction financing for class A industrial speculative development in Hanover, New Jersey
MORRISTOWN, NJ — JLL Capital Markets has secured construction financing for Marcus Partners’ devel- opment of a new class A indus- trial facility at 35 South Jef- ferson Rd. in Hanover Twp., Morris County, New Jersey. JLL represented Marcus Partners in securing a four- year construction loan with a one-year extension option with Truist Bank . The to-be-constructed facility will span 72,000 s/f and feature premium industrial specifica - tions, including 36-foot clear ceiling heights, 10 dock doors with the ability to expand to 18 loading positions, one drive-in door with potential for a second and 3,785 s/f of office space. The development will provide 90 employee parking spaces and eight trailer parking spac- es on a 6.62-acre site, with a 130-foot truck court depth de- signed to accommodate modern logistics operations. Located less than one mile
Wyndham Garden Norfolk Downtown
with a 7% interest rate and full term interest only. “We are pleased to secure fi - nancing for Wyndham Garden Norfolk Downtown, support- ing the local hospitality sec- tor,” said Bhat. “Its prime loca- tion and strong market made it an appealing investment, and we anticipate continued success in downtown Norfolk.” The property is located in downtown Norfolk within walking distance of several museums, historic sites and the beach, and is less than 8 miles from Norfolk Interna- tional Airport. MAREJ
NORFOLK, VA — Marcus & Millichap Capital Corpo- ration (MMCC) , a provider of commercial real estate capital markets financing solutions, arranged an $8,940,000 loan to refinance the Wyndham Garden Norfolk Downtown, a 354-key hospitality property located at 700 Monticello Ave. in Norfolk, Virginia. Robert Bhat , senior man- aging director in MMCC’s Mi- ami office, secured the financ - ing with a global investment bank on behalf of a private cli- ent. The loan is non-recourse and features a five-year term
35 South Jefferson Road
from the intersection of Rte. 10 and I-287, and three miles south of the I-287 and I-80 interchange, the property of- fers exceptional connectivity to major transportation net- works. The strategic location provides direct access to New York City, New Jersey port facilities, Newark Liberty International Airport and the New Jersey Turnpike. The development is situated in Hanover Township’s Whip- pany section, 30 miles west of
Manhattan. The surrounding five-mile radius contains more than 160,000 residents and 8,000 blue-collar workers, providing substantial end-user demand and labor supply for potential tenants. Marcus Partners broke ground on the development in September 2025 with an esti- mated delivery in April 2026. The JLL Capital Markets team was led by senior man- aging director Michael Klein and VP Michael Lachs . MAREJ
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