| |
ski properties for sale in the alps les arcs
News and Information Article
$12 Million Loan Closes in Less Than a Week
HACKENSACK, N.J., June 21 // -- Among those in the know,
Laughlin, Nevada is seen as becoming as big a phenomenon as Las Vegas
itself. Its only a matter of time -- and development. Which is why Vincent
Hesser of OneCap Partners 2, LLC wished to purchase two prime future
development parcels totaling 78.02 acres along the Colorado River there.
The intention is to land bank the property and eventually sell to an
interested developer. The land lies at the southern end of Laughlins
strip, where the majority of the casinos are located, including the
famous Harrahs resort complex, the latest one to be built.
All in all, it was a good plan, with an eye towards the future. Now all
Hesser needed was for someone to make him a loan, with the raw land as
collateral. Unfortunately, no lender was willing to move within the time
frame necessary to make the loan.
In a fortuitous stroke of luck, however, Hesser was introduced to
Kennedy Funding, a direct private lender based in Hackensack, New Jersey,
that specializes in unconventional financing where speed and attention to
special circumstances are critical. In particular, Kennedy welcomes raw
land loans, as they are able to see the clients vision and its worth, and
identify with it. As a result, Kennedy closed a $12 million loan with
OneCap Partners 2 in just six days, and Vincent Hesser is now free to
pursue his project.
Said Jeffrey Wolfer, President and co-CEO of Kennedy Funding, "Contrary
to most traditional lenders, we actually like raw land deals. We probably
do more than anyone, and we do them quickly, with a minimum of delay. And
OneCaps was a good one. Laughlin has been a popular alternative to Las
Vegas for more than thirty years, with casino hotels lining the Colorado
River along Casino Drive. The river is alive with recreational activity,
and the area has developed into a popular RV destination."
Shawn King of OneCap was just as enthusiastic. "Working with Jeff was
great," he said. "He was eager to put himself in our shoes and see our side
of the deal, and to work with us to get it done as quickly as possible."
Kennedy Funding is at the forefront of making smart, effective business
decisions. Their streamlined evaluation process gives them the ability to
issue loan commitments in as little as 24 hours, with closings in as little
as five days, and often in no more than two weeks. With a deep source of
funds at their disposal, available loans range from $1 million to $100
million and more when the need is there. Part of their uniqueness comes
from a policy based on flexibility, as witnessed by their willingness to
accept raw land as collateral, and to fund developments in Mexico, Europe,
even exotic locations such as the Fiji Islands. While specializing in
commercial real estate loans, Kennedy has funded such diverse enterprises
as high-profile golf course, amusement parks, TV and radio stations,
airlines, and sports complexes, among others. Professionals including land
use developers, resort builders, entrepreneurs, and major businessmen have
used the services of Kennedy funding to great success. They can fund up to
75% loan-to-value for commercial land development, acquisitions, workouts,
refinancing, bankruptcies, and foreclosures.
http://www.kennedyfunding.com
| |
|
|
 |
ski properties for sale in the alps les arcs |
|
|
|
|
|
|
|
|
|
Locations
