Why U.S.-based Kennedy Funding Is the Private Lender of Choice for Land Loans in St. Barths
Over $4 billion in closed loans, speed, and one of only a few to lend on land make them the leaders in the space
ENGLEWOOD, N.J., July 25, 2023 /PRNewswire/ — Saint Barthélemy is the playground for the ultra-rich. It’s also where one finds the highest real estate prices in the world.
So when an investor wants to acquire land for development, or refinancing, or for any number of reasons, there’s never an issue. Or is there?
“Who would want to use their own money?” says Kevin Wolfer, CEO of Kennedy Funding, a U.S.-based direct private lender with headquarters in Englewood, New Jersey. “And credit markets are drying up — traditional lending is all but disappearing. There are very few lenders in the U.S. who are willing or have the ability to close on land in the Caribbean, and they certainly can’t close it in a timely fashion. Fortunately, we can. Lending in St. Barths and throughout the Caribbean is our specialty.”
Surrounded by the breathtaking eastern Caribbean Sea, St. Barths is home to some of the most exclusive and luxurious real estate in the world. On this 9.26-square-mile island with a population of just over 10,000, villas can cost up to 5 million euros — and up to four times that price for properties by the beach. These are among the most valuable homes on the planet. Plus, because of the island’s natural beauty and elite reputation, it’s an increasingly popular luxury tourist destination for the rich and famous. As a result, for investors and developers of real estate, St. Barths is a golden opportunity.
But development takes investment, and investment doesn’t come easy whether you’re U.S. or foreign based and searching for opportunities abroad. It’s essential to partner with a lender who not only is willing to work with international deals — a rare find in itself — but one that also has the expertise and track record to do so. Kennedy Funding has garnered this expertise in St. Barths.
“Only Kennedy Funding has the network and know-how to successfully cross borders to close deals — and close them fast — oftentimes in a matter of days,” adds Wolfer. “Borrowers looking to buy property, even raw land, in St. Barths and beyond come to us first because our track record speaks for itself.”
Borrowers may need a loan on land in St. Barths for any number of reasons. In general, using one’s own money when buying land or building properties is inherently risky — and beyond that, most people, no matter how wealthy they are, just don’t want to invest their own capital. Proceeds from a U.S.-based direct private lender can also be used as a bridge loan while borrowers pursue other funds. With the extra security of a land loan, prospective St. Barths property owners can be more confident that they’re making sound investments, providing an important layer of extra protection in a deal.
A land loan from Kennedy Funding can be a game-changing entry point into this exclusive arena. Kennedy is an international industry leader, as the only direct private lender with consistent, successful loan closures in other countries, including throughout the Caribbean. In a competitive land and property market, this knowledge is critical to success, especially when time is of the essence.
Kennedy Funding’s proven success gives borrowers an edge. “We bring robust, firsthand knowledge of a territory’s local laws to the table so borrowers remain compliant. As a direct private lender, we are not beholden to the same restrictions and red tape as a traditional lender. We examine each deal based on its merits, expeditiously assessing the potential of the investment and taking action in days, not months,” Wolfer said.
Loan proceeds can be used for a multitude of purposes, including working capital, acquisition, and refinancing.
Since 1985, Kennedy Funding has been expanding its portfolio of successful loan closures around the world. Our impressive track record of closures on St. Barths and throughout the Caribbean has made us a leader for land loans on this gorgeous, tranquil island. If you’re interested in purchasing land in St. Barths, contact Kennedy Funding to learn more and begin the land loan application process, or visit www.kennedyfunding.com.
ABOUT KENNEDY FUNDING
Kennedy Funding is a global direct private lender specializing in bridge loans for commercial property and land acquisition, development, workouts, bankruptcies, and foreclosures. Kennedy Funding has closed more than $4 billion in loans to date. Its creative financing expertise provides funding up to 75% loan-to-value, from $1 million ($3 million international) to more than $50 million, in as little as five days. The company has closed loans throughout the United States, the Caribbean, Europe, Canada, and Central and South America. Visit www.kennedyfunding.com.
SOURCE Kennedy Funding
Originally published at https://www.prnewswire.com/news-releases/why-us-based-kennedy-funding-is-the-private-lender-of-choice-for-land-loans-in-st-barths-301885171.html
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