Direct private lender successfully closes another land loan abroad
Englewood, New Jersey, November 3, 2022 /PRNewswire/ — It is virtually impossible to find a lender willing or able to enter into a wildland deal outside the United States. So Concreto Design Studio SAC turned to Kennedy Funding, a leading US-based direct private lender.
Through Kennedy Funding, Concreto Design Studio SAC $3.65 million land loan Limathe capital of PeruThis loan will be used to finance the construction of a 22-story apartment building on 27 acres of land in the city.
according to Kevin WolferCEO of Kennedy Funding, said closing loans outside the United States, especially land loans, can be difficult. South America.
“To do business in Peru And in countries other than the United States, we need to work with experienced lenders who understand the political climate, real estate markets and laws related to real estate transactions,” said Wolfer. A maze of local laws and paperwork involving real estate, the environment, land use, and property rights. ”
Wolfer added that deals can be more complicated when land is involved, as raw land is inherently viewed by most lenders as risky.
“Accurate assessments outside the United States are especially important to do it the right way,” added Wolfer. “We are working with large and respected global real estate firms like CBRE, Colliers, Newmark, and other experts in the field to provide our borrowers with the largest loans possible. In addition, we have properly evaluated the property.”
Francisco PieraPresident of Alpha Lending & Investments, MiamiA US-based advisory firm representing Argentine borrowers said the developers had been seeking funding for years. I knew only Kennedy could close,” adds Piera. “These other lenders also had higher interest rates than Kennedy. Loans from Kennedy are a lot cheaper than having a partner and less headaches,” he said.
Lima One of the most populous cities in the Americas, peruvian The center of politics, finance and culture. It faces directly onto the Pacific Ocean and is in a mostly desert area. South American west coast. With a population of over 11 million and growing in recent years, the demand for housing is increasing.
“This condominium is being built in a country rich in history and in a city full of big-city life,” Wolfer said.
This loan closure follows a previous Kennedy funding closure. $2.5 million A loan intended for use in a mountainous landlocked city in Peru. The company has an international reputation for closing loans that other US-based financial institutions often don’t consider at all.The company closed the deal Brazil, Columbia, Belize, BahamasCozumel, JamaicaSt Barts, and dominican republicamong other international locales.
“We are proud to have completed our next loan. Perusaid Wolfer. South America, and we are one of the few lenders that can close them. We always continue to fill that gap in the market. ”
For more information or to get started with your application, visit www.KennedyFunding.com.
About Kennedy Funding
Kennedy Funding is a global direct private financial institution that specializes in bridge loans for the acquisition, development, adjustment, bankruptcy and foreclosure of commercial real estate and land.Kennedy funding closed more $4 billion On loan to date. Its creative fundraising expertise provides up to 75% loan-to-value funding. $ 1,000,000 ($3 million International) and above $50 million, in just 5 days.The company has closed the entire loan usa, caribbean, Europe, Canadaand middle and South America.
Source Kennedy Fundraising