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Kennedy Funding Closes Loan for Resi Development on Maine’s South Coast
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Kennedy Funding Closes Loan for Resi Development on Maine’s South Coast
Direct private lender Kennedy Funding closed a $1.633-million loan to Abode Communities Kennebunk, LLC. Loan proceeds will be used to purchase 17 acres of undeveloped land at 274 Alewive Rd. in Kennebunk, ME, for $1.2 million. The property is contiguous to 70 acres of land the borrower already owns. The remaining funds will be put toward working capital. The borrower intends to develop 13 single-family homes on the property in conjunction with H…
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