Kennedy Funding Closes $2.05M Loan To The Beach Dallas LLC For 62.7 Acres In Dallas
2700 Simpson Stuart Road
$2,050,000
Building Size
—
Asset Type
Land
Closing
Oct 8, 2025
About this deal
AI
The transaction involves 62.7 acres of land located at 2700 Simpson Stuart Road in Dallas, Texas. The property is part of a planned new housing development and was acquired for a total purchase price of $3 million, which includes a second mortgage provided by the seller for $1.095 million.
Summary of transaction details:
- Property Type: Land
- Transaction Amount: $2,050,000
- Loan Amount: $2,050,000
- Market: Dallas
- Asset Size: 62.7 acres
- Lender: Edwin Urrego, Christian Toxboe & Kevin Wolfer - Kennedy Funding
- Landlord: The Beach Dallas LLC
This transaction was facilitated by Edwin Urrego, Christian Toxboe, and Kevin Wolfer representing Kennedy Funding. They provided the loan necessary for The Beach Dallas LLC to proceed with the acquisition after the previous lender was unable to close the deal.
On the Map
$2,050,000
Land
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
7.74%
Cash-on-Cash
-2.21%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93