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Kennedy Funding Provides $7.5M Acquisition Loan For Santa Rosa Beach Hotel

Property Image
FINANCED
$7,500,000
Marvin Jeremias
Gretchen Wilcox
David Fryer
+ 1

Florida

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Hotel
Financed 01/09/2024
the dealplayerscompscontact
Property Image
FINANCED

Kennedy Funding Provides $7.5M Acquisition Loan For Santa Rosa Beach Hotel

Hotel
Financed 01/09/2024
Marvin Jeremias
Gretchen Wilcox
David Fryer
+ 1
the dealplayerscompscontact
Contact now

Summary

Asset Type:Hotel
Transaction Type:Loan

Summary of transaction details

  • Property Type: Hotel
  • Transaction Amount: $7,500,000
  • Lender: Kevin Wolfer - Kennedy Funding
  • Landlord: 4228 Dana Beach, LLC
  • Market: Santa Rosa Beach

Players

Meyer Ovadia
Crossmark Capital
Meyer Ovadia
4 deals$121.9M volume(212) 612-0190
BROKER
David Fryer
David Fryer
6 deals$215.6M volume
BROKER
Gretchen Wilcox
G.S. Wilcox
Gretchen Wilcox
5 deals$277.5M volume
BROKER
Marvin Jeremias
Crossmark Capital
Marvin Jeremias
12 deals$983.6M volume
BROKER
KeyBank
KeyBank
LENDER
Kennedy Funding
Kennedy Funding
LENDER
Basis Investment Group
Basis Investment Group
LENDER

Details

FINANCED
IMAGE: Kevin Wolfer DATE: 01/09/2024 MARKET: Santa Rosa Beach ASSET TYPE: Hotel LENDER: Kevin Wolfer - Kennedy Funding LANDLORD: 4228 Dana Beach, LLC LOAN AMOUNT: $7,500,000 LOAN TYPE: Acquisition Loan NOTE: Kennedy Funding, a private lender known for quick bridge loans, closed a $7.5 million land loan to 4228 Dana Beach, LLC for a nine-bedroom gulf-front home purchase in Santa Rosa Beach, Florida. The deal, prompted by an institutional lender's last-minute withdrawal from a $15 million loan, exemplifies Kennedy Funding's ability to provide fast funding for complex real estate projects, showcasing its broad lending capabilities and commitment to overcoming obstacles in the lending landscape.

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$7,500,000.00

Monthly NOI$50,000.00
Monthly Debt Service$47,405.10
Change in Cash Flow$0.00
Refinance Proceeds$0.00