Mark Falzone is executive loan officer at Kennedy Funding
By Joshua Burd
Kennedy Funding, the Englewood-based direct private lender, has closed a $2.5 million cash-out refinancing loan to the owner of some 63 acres of property on the Caribbean island of Nevis.
According to a news release, the transaction with Bush Lender LLC is backed by a mix of developed and raw land assets in St. Thomas, including a custom-designed, 8,000-square-foot concrete villa in the sought-after residential area known as Jessups Estate. The property is just 3.4 miles from Charlestown, the capital of Nevis, while additional collateral includes more than 60 acres with expansive development potential across nearby Farms Estate and Bush Hill.
“This is exactly the kind of complex international loan that Kennedy Funding was built to close,” said Mark Falzone, executive loan officer at Kennedy Funding. “When traditional lenders back away from land loans or land deals in foreign jurisdictions, we see opportunity. We know how to work through the legal systems, title issues and valuation challenges that come with international real estate.”
The lender said the deal in Nevis, known for its pristine beaches, mountainous interior and luxury tourism appeal, is part of a growing overseas portfolio that also includes St. Barts, the Dominican Republic, Jamaica, the Bahamas, Colombia and others. The latest land loan is also notable in that it has a diversified collateral base, the firm said, allowing it to transact in an area where access to U.S.-based capital remains limited.
“Closing loans in foreign countries requires more than capital — it takes a real understanding of local laws, real estate customs and how to build the right team on the ground,” said Kevin Wolfer, Kennedy Funding’s CEO and president. “We have the network and the experience to make that happen — and that’s why Kennedy Funding continues to be the go-to lender for international real estate financing.”
