Kennedy Funding Closes $3.65 Million Land Loan in Lima, Peru

Private Direct Lender Successfully Completes Another Overseas Land Loan

ENGLEWOOD, NJ, November 3, 2022 That’s why Concreto Design Studio SAC turned to Kennedy Funding, a US-based private direct lender.

Thanks to Kennedy funding, Concreto Design Studio SAC obtained a $3.65 million land loan in Limathe capital of Peru. The loan will be used to finance the construction of a 22-story apartment building on 27 acres of gross land in the city.

According Kevin WolferCEO of Kennedy Funding, closing loans outside the United States, especially land loans, can be difficult – but Kennedy Funding has both the track record and the extensive overseas connections necessary to successfully finance transactions in South America.

“Doing business in Peru and in other countries outside of the United States, you need to work with an experienced lender who understands the political landscape, the real estate market, and the law as it relates to real estate transactions,” Wolfer said. “Only these experts know how to comply with the maze of local laws and red tape related to real estate, environment, land use and title. »

Wolfer added that the transaction can become more complicated once land is involved, as raw land is inherently considered risky by most lenders.

“Accurate valuations outside of the United States are especially critical to making the right choice,” Wolfer added. “We work with large, respected global real estate companies like CBRE, Colliers, Newmark and other on-site experts to properly appraise the property, so that we can provide the largest loans possible to our borrowers.”

Francisco Pierachairman of Alpha Lending & Investments, the MiamiNew York-based consultancy which represented the Argentinian borrower, said the developer had been seeking funding for years. “They had 3-4 offers from other lenders, but I knew only Kennedy could close,” adds Piera. “These other lenders also had higher rates than Kennedy. A loan from Kennedy is much cheaper and less headache than having a partner,” he said.

Lima is one of the most populous cities in the Americas and is from Peru political, financial and cultural center. It sits directly on the Pacific Ocean, in the desert zone that includes much of South America Western coast. Its population of over 11 million has grown in recent years, forging demand for housing.

“This apartment building is built in a city full of metropolitan life, in a country rich in history,” Wolfer said.

This loan closing follows a previous closing by Kennedy Funding of a $2.5 million ready for use in a mountain town in the interior of Peru. The company has earned an international reputation for closing loans that other US-based institutions often don’t consider at all. The company has entered into agreements in Brazil, Colombia, Belize, BahamianCozumel, JamaicaSaint Barth and the Dominican Republicamong other international locations.

“We are proud to have concluded another loan in Peru“, Wolfer said. “We get loan requests from all over South America, and we are one of the few lenders that can close them. We will always continue to close that gap in the market.”

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About the Kennedy Funding

Kennedy Funding is a global direct private lender specializing in bridge lending for the acquisition, development, restructuring, bankruptcy and foreclosure of commercial property and land. Kennedy Funding closed more than $4 billion in loans to date. Its creative financing expertise can finance up to 75% of the loan-to-value ratio, from $1 million ($3 million international) to more than $50 million, in as little as five days. The company has entered into loans throughout United Statesthe Caribbean, Europe, Canadaand central and South America.

SOURCE Kennedy Funding

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