FINANCEDLand
Kennedy Funding Provides $2.7M Land Loan For Kimpton Falls Development In Kansas City
$2,700,000
Units
420
Asset Type
Land
Closing
Feb 22, 2024
About this deal
AI
The $2.7 million land loan extended by Kennedy Funding to LOF GP LLC is for the development of Kimpton Falls, a 31.5-acre land in Kansas City, MO.
Summary of transation details:
- Property Type: Land
- Transaction Amount: $2,700,000
- Image: Kevin Wolfer & Steven Wilson
- Date: 02/22/2024
- Market: Kansas City, MO
- Landlord: LOF GP LLC
- Broker: Steven Wilson - Barefoot Mortgage
Kevin Wolfer represents Kennedy Funding as the lender in this deal, while Steven Wilson from Barefoot Mortgage acts as the broker facilitating the transaction.
Players
Market Land Market Snapshot
Boundary boundary · Land · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.88%
Cash-on-Cash
-1.68%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93