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Kennedy Funding Closes $1.633 Million Loan For Abode Communities Kennebunk's Development Site In Maine

Property Image
FINANCED
$1,633,000

Maine

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Development Site
Financed 06/30/2025
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Property Image
FINANCED

Kennedy Funding Closes $1.633 Million Loan For Abode Communities Kennebunk's Development Site In Maine

274 Alewive Road

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Development Site
Financed 06/30/2025
the dealplayerscompscontact
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Summary

MAINE
Asset Type:Development Site
Transaction Type:Loan

The property involved in this transaction is a development site located at 274 Alewive Road, Kennebunk, MN, encompassing 17 acres. The loan amount for this property is $1,633,000, which will facilitate the development of new housing in partnership with Habitat for Humanity and the establishment of a mobile home park.

Summary of transaction details:

  • Property Type: Development Site
  • Transaction Amount: $1,633,000
  • Lender: Kevin Wolfer - Kennedy Funding
  • Landlord: Abode Communities Kennebunk, LLC
  • Date of Loan: 06/30/2025
  • Market: Kennebunk, MN
  • Acres: 17

This transaction was aimed at addressing the growing housing demand in Maine's South Coast. The private lender, Kennedy Funding, is recognized for its rapid turnaround times, which contributed to the successful closing of this loan for Abode Communities Kennebunk, LLC.

Players

KW
Kevin Wolfer
5 deals$14.7M volume
BROKER
KW
Kennedy Funding
Kevin Wolfer
5 deals$14.7M volume
LENDER
Kennedy Funding
Kennedy Funding
LENDER
Kennedy Funding
Kennedy Funding
LENDER

Details

FINANCED
IMAGE: 06/30/2025 ADDRESS: 274 Alewive Road MARKET: Kennebunk, ME ASSET TYPE: Development Site ~ ACRES: 17 LENDER: Kevin Wolfer - Kennedy Funding LANDLORD: Abode Communities Kennebunk, LLC LOAN AMOUNT: $1,633,000 NOTE: Kennedy Funding closed a $1.633 million loan for Abode Communities Kennebunk, LLC to buy 17 acres in Kennebunk, Maine, and develop new housing with Habitat for Humanity and a mobile home park. The private lender’s fast turnaround aims to meet surging housing demand on Maine’s South Coast.

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$1,633,000.00

Monthly NOI$10,886.67
Monthly Debt Service$10,321.67
Change in Cash Flow$0.00
Refinance Proceeds$0.00