Edwin Urrego & Kevin Wolfer Of Kennedy Funding Close $4.4M Refinance On Land In Spicewood

The transaction involves six raw land parcels located at 3550 Alexander Circle and 3310 Crawford Road in the Spicewood market. The asset type is classified as land, and the loan amount associated with the transaction is $4,400,000, which pertains to a refinance arrangement.

Summary of transaction details:

• Property Type: Land
• Transaction Amount: $4,400,000
• Addresses: 3310 Crawford Road & 3550 Alexander Circle
• Market: Spicewood
• Lender: Edwin Urrego & Kevin Wolfer - Kennedy Funding
• Loan Type: Refinance

Edwin Urrego and Kevin Wolfer from Kennedy Funding facilitated the cash-out refinance to provide the borrower with liquidity on a Hill Country development site that has already incurred nearly $10 million in acquisition and infrastructure costs. The transaction underscores the lender’s emphasis on financing non-bankable land assets with potential for long-term residential development in burgeoning markets like the Austin corridor.