Chateau Bu-De Winery & Vineyard at 237 Bohemia Manor Farm Lane in Chesapeake City, Maryland — Courtesy: Kennedy Funding
By Joshua Burd
Kennedy Funding has closed a $5.1 million loan in connection with the sale of a single-family home on a 437-acre winery property in northeast Maryland.
According to the Englewood-based direct private lender, AE Bohemia Manor Farm LLC will use the proceeds toward its $8.9 million purchase of the tract off Augustine Herman Highway in Chesapeake City. The 2.5-story, 12,750-square-foot house is part of the Chateau Bu-De Winery & Vineyard, Kennedy said, noting that the borrower intends to maintain the current operations along with its five catering establishments and bed-and-breakfast, working in tandem with VIVÂMEE Hospitality.
The deal was the third loan the lender closed in the last week of December.
“You need to anticipate challenges and delays during the holiday season, and you need to know how to navigate them while still meeting the borrower’s needs in a timely fashion,” said Kevin Wolfer, CEO and president of Kennedy Funding. “At Kennedy Funding, we have the experience and know-how to assess potential deals on next-to-impossible timelines and get funding in the hands of borrowers at any time of the year.”
The winery includes a 15,000-square-foot building with a tasting room, a ballroom, entertainment spaces and a full catering kitchen with food served on-site, Kennedy said. Chateau Bu-De Winery & Vineyard hosts 30,000 visitors per year, with just under 60,000 vines of pinot noir, chardonnay and other widely sought-after wines, while weddings and events at the winery are booked well into 2024.
“Direct private lenders like us are free to examine the merits of a deal, without being forced to tick certain boxes or meet potentially irrelevant criteria,” Wolfer said. “Between Chateau Bu-De Winery & Vineyard’s gorgeous waterfront scenery, stunning bed-and-breakfast space, state-of-the-art vineyard, catering and event spaces, we were fully confident that the borrower’s purchase would elevate the Chesapeake City community.”
