Kennedy Funding, an Englewood-based direct private lender, announced it has closed a $2.7 million land loan for Haya Enterprises LLC. The financing will provide working capital for a 34.61-acre mixed-use development site situated in Medford, Oregon.
Located at the southeast corner of North Phoenix Road and Coal Mine Road in Jackson County, the property represents a significant development opportunity. The site is strategically divided to support diverse project needs: approximately 10.10 acres are zoned for community commercial use—permitting office, retail, and multifamily development—while the remaining 24.51 acres are zoned for single-family residential.
Medford, the eighth most populous city in Oregon, has faced recent economic headwinds, including cooling in the healthcare job sector and broader market challenges. While traditional lenders have become increasingly cautious toward real estate in such environments, Kennedy Funding utilized its signature asset-based lending approach to move forward with the transaction.
“This is the type of loan Kennedy Funding specializes in,” Jared Levitt, loan officer at Kennedy Funding, said. “When traditional lenders can’t deliver, we can often find a way forward by focusing on the value of the real estate. In this case, the site’s combination of commercial and residential development potential gave us confidence in the opportunity.”
The property’s location is a key factor in its long-term viability, situated across from the Centennial Golf Club with convenient access to major thoroughfares, including Interstate 5 and Oregon Route 99, as well as downtown Medford and the Rogue Valley International Airport.
By emphasizing the underlying value of the collateral rather than relying solely on borrower financial metrics, Kennedy Funding was able to provide the capital necessary for Haya Enterprises LLC to advance its vision for the site.
“Opportunities like this don’t fit neatly into a conventional lending box,” Kevin Wolfer, president and CEO of Kennedy Funding, said. “By taking a practical approach and understanding the unique characteristics of each transaction, we can provide borrowers with the capital they need when traditional financing sources may not be an option.”
