{"id":164937,"date":"2026-03-16T13:19:11","date_gmt":"2026-03-16T13:19:11","guid":{"rendered":"https:\/\/www.newsbeep.com\/us-ny\/164937\/"},"modified":"2026-03-16T13:19:11","modified_gmt":"2026-03-16T13:19:11","slug":"kennedy-funding-lends-2-1-million-to-georgia-residential-developer-real-estate-nj","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us-ny\/164937\/","title":{"rendered":"Kennedy Funding lends $2.1 million to Georgia residential developer \u2013 Real Estate NJ"},"content":{"rendered":"

Suwanee Preserve at 3550 Alexander Circle in Cumming, Georgia \u2014 Courtesy: Kennedy Funding<\/p>\n

By Joshua Burd<\/p>\n

Kennedy Funding has closed a $2.1 million cash-out refinance loan to the owner of a growing residential development in Georgia.<\/p>\n

The private direct lender, which is based in Englewood, said the deal is tied to an 18-lot subdivision at 3550 Alexander Circle in Cumming, part of a larger residential community known as Suwanee Preserve in Forsyth County. The land loan allows the borrower to unlock capital tied up in the property, Kennedy said, noting that the subdivision\u2019s utilities and roads are already in place, positioning the project for continued residential construction.<\/p>\n

\u201cThis was an ideal situation where the borrower had already completed the heavy lifting,\u201d said Edwin Urrego, executive loan officer at Kennedy Funding. \u201cThe lots were fully subdivided, infrastructure was in place and the property sits in one of the fastest-growing residential corridors outside Atlanta. By focusing on the real estate itself, we were able to structure a loan that allowed the borrower to access equity and continue moving the project forward.\u201d<\/p>\n

Urrego, who originated the loan, said the Suwanee Preserve development spans roughly 18.8 acres and includes residential lots ranging from about 0.5 to 0.63 acres. The project is just east of Buford Highway in southeastern Forsyth County, an area experiencing continued housing demand driven by growth in the greater Atlanta metropolitan region.<\/p>\n

The borrower originally purchased the property in May 2024 for $2.77 million and sought a cash-out refinance loan to unlock capital tied up in the development.<\/p>\n

\u201cTraditional lenders often hesitate when it comes to land or partially completed developments,\u201d Kennedy Funding CEO and President Kevin Wolfer said. \u201cBut when the fundamentals are strong \u2014 location, completed infrastructure and clear development plans \u2014 we can move quickly to provide the capital borrowers need.\u201d<\/p>\n


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