Englewood-based Kennedy Funding, a direct private lender, continues to assert its presence in the national real estate market. The firm recently announced the closing of a $2.1 million cash-out refinance loan for a high-potential residential project in the Atlanta metropolitan area.
The loan is secured by 18 subdivided residential lots within the Suwanee Preserve community, located in Cumming, Forsyth County, Georgia. This transaction marks another successful move for the New Jersey lender, which specializes in bridge loans and creative financing for complex land projects.
The borrower, who originally purchased the 18.8-acre property in May 2024 for $2.77 million, sought the refinance to unlock equity tied up in the land. Because the “heavy lifting”—including all road infrastructure and utility installations—was already completed, the project was perfectly positioned for a quick capital infusion to fuel the next phase of home construction.
“Traditional lenders often hesitate when it comes to land or partially completed developments,” Kevin Wolfer, president and CEO of Kennedy Funding said. “But when the fundamentals are strong—location, completed infrastructure, and clear development plans—we can move quickly to provide the capital borrowers need.”
The deal was originated by Edwin Urrego, executive loan officer at Kennedy Funding said. Urrego highlighted the strategic value of the location, noting that Forsyth County remains one of the fastest-growing residential corridors in the region.
The Suwanee Preserve development features:
- Total Acreage: ~18.8 acres.
- Lot Sizes: Individual residential lots ranging from 0.5 to 0.63 acres.
- Infrastructure: Fully installed utilities and completed road access.
While headquartered in New Jersey, Kennedy Funding has a reputation for closing complex deals where traditional banks decline to tread. The firm recently closed a $1.12 million loan to facilitate the purchase of a multi-unit apartment complex in Baltimore, Maryland; a $2.1 million loan for a new synagogue in Ferndale, New York; and a $2.5M Caribbean land loan.
This Georgia closing underscores the firm’s reliance on internal coordination and real estate fundamentals rather than just borrower credit, a hallmark of their bridge-lending model.
