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Kennedy Funding
Lends $18 Million to Developers of Next 'Sun Valley'
Tamarack Resort Developing First New Ski
Area in 22 Years
HACKENSACK,
N.J., Nov. 26 — The first major new four-season ski resort
to be developed in 22 years is being developed in Donnelly, Idaho
by Tamarack Resort with the help of an $18 million loan from Kennedy
Funding, a direct private lender based in Hackensack, NJ that specializes
in commercial real estate, resort, and golf course financing.
Located some 90 miles north of Boise, Tamarack Resort encompasses
a master-planned, state of the art all-season ski resort and residential
community being developed on 3,600 acres of private and state property
along the shores of Lake Cascade.
"This is clearly the next Sun Valley," says Jeffrey Wolfer,
president of Kennedy Funding. "Tamarack sits on a premium site
and offers a world-class ski mountain with a Nordic ski trail system
totaling 65 miles; a beautiful lake that will serve as a center
of a wide range of water-related recreational activities served
by a first-class marina; and three golf courses, one 9-hole par
three executive course and two 18-hole courses with the first courses
being a 7,000-yard Robert Trent Jones II signature course."
The master plan for Tamarack Resort includes 2,043 residential units
consisting of hotel rooms, lodges, condos, single-family homes,
timeshare units and townhomes, many of which will be designed for
ski in, ski out access. Some 300,000 square feet of commercial space
is planned with restaurants, stores, shops, and hotels along a 1,400-foot
outside mall all done in a Village motif.
Additional features include competition bike trails, hiking trails,
and ski trails to accommodate all levels of skiers. The latest ski
lift systems will be used and are capable of transporting more than
7,000 skiers per hour.
Tamarack Resort has already had a profound effect on the area's
recreation and tourism business. The resort has won the support
of Idaho Governor Dirk Kempthorne and received a 49-year lease on
contiguous state land from the Idaho Land Board. Two prominent business
leaders lead the development team: Tamarack CEO Jean-Pierre Boespflug,
and Tamarack Chairman Alfredo Miguel who have personally committed
$60 million to the project.
" Tamarack is, perhaps, the best site in America left for resort
development," says CEO Jean-Pierre Boespflug. "It will
be located near the Frank Church wilderness area, which is 5 times
that size of Yellowstone and will offer every conceivable recreational
activity. In addition, the area offers the perfect climate —
more snow in the winter than most resorts and average summer temperatures
of 75 degrees."
Kennedy Funding's multimillion-dollar investment in Tamarack comes
at a critical phase in the project's development.
" The first phase involving the development of the project's
infrastructure is probably the most capital-intensive phase in the
whole process," says Wolfer.
With nearly twenty years of experience as a direct private lender,
Kennedy Funding has witnessed countless startup phases of massive
real estate and business enterprises and guided its clients through
complex loan processes.
The company has a strong reputation for its lending expertise and
ability to devise innovative strategies to deal with commercial
property workouts, foreclosures, acquisitions, refinancing, bankruptcies
and related situations. Kennedy's staff of veteran financial experts
excels at addressing multifaceted loan transactions and assessing
complex risk scenarios.
" Kennedy Funding was very fast, very responsive and very thorough,"
adds Boespflug. "They understood the entire project from the
ground up."
According to Wolfer, traditional lenders are too caught up in red
tape that delays the loan process. This process, he says, ignores
the borrower's needs and the time-sensitive reality of most business
transactions done today.
" What sets us apart from other lenders is that Kennedy Funding
can move the deal through the process quickly and efficiently regardless
of complications or risk factors traditional lenders shy away from,"
says Wolfer.
Kennedy Funding has been a key source of funds in numerous world-class
resorts such as the Quintero Golf Community in Phoenix and a number
of other notable resort and mixed-use communities throughout the
country. The firm has also provided a multimillion-dollar loan to
leading golf course development firm Senior Tour Players.
Known nationally and internationally as a resourceful, key lender
for commercial real estate projects of every type, Kennedy branched
out beyond its national service area into commercial loans in the
international arena in the mid-1990s.
In addition, Kennedy has expanded its lending scope to include enterprises
across a wide variety of industry categories, including: commercial
real estate, resorts and lodging, golf course development, sports
complexes, media (TV and radio stations), retail, airlines, and
a diverse range of business enterprises.
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Superstar John McEnroe to Highlight The Kennedy Funding Invitational
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Kennedy Funding Loans Hawaiian Developer $7 Million for Big Project on Big Island |
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$47.1425 Million Loan From Kennedy Funding Helps Idyllic Community Take Off in Eagle County, Colorado |
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$15.1 Million Loan from Kennedy Funding Provides the Right Prescription for Pennsylvania Mental Health Care Center |
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$29.3 Million Loan from Kennedy Funding Helps Florida Developer Make a Big Splash with Luxury Residential Community and Water Park Complex |
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Fast $28.8 Million Loan from Kennedy Funding Helps Developer Build Resort for All Seasons in Utah Mountains |
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$4.55 Million from Kennedy Funding is Second Loan in a Month to MOA
Loan Helps Developer Build ‘Buffalo Bill’ Hotel near Yellowstone |
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$47 Million Loan From Kennedy Funding Helps Florida Developer Shift His Town Center Project Into High Gear |
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$23.2 Million Loan from Kennedy Funding Helps Developer Sink a Birdie on His Residential Golf Community |
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$55 Million Loan From Kennedy Funding Means Smooth Sailing for Georgia Developer
As Traditional Lenders Shy Away from the Residential Market, Kennedy Shares Borrowers' Vision & Steps in to Fill the Void |
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$24.9 Million Loan From Kennedy Funding Brings Some Magic to Florida Residential Resort Project Near Walt Disney World |
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With a Total of $70 Million in Loans, Kennedy Funding's Magic is Helping Build Florida Developer's Kingdom |
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$13.5 Million Loan from Kennedy Funding Closes in Just Two Weeks & Saves the Day After Other Lender Drops the Ball |
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$6.66 Million Raw Land Loan from Kennedy Funding Closes in Only
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Loan Helps Texas Developer Purchase Another Property Just in Time |
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$12.3 Million Loan From Kennedy Funding Helps Philadelphia Developer Acquire 71-Acre Tract Along the Delaware River |
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Up Against the Odds and the Clock, Kennedy Funding Closes $7 Million Loan for HHH Nevada's Las Vegas Project in Just Over a Week |
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$15.5 Million Loan From Kennedy Funding Helps Developer Bring an International Flavor to Chamblee, Georgia |
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Hurricanes destroyed 119 homes...a $23.3 million loan from Kennedy Funding brightens the future for the new owners of West Palm Beach tower. |
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Kennedy Funding Gains $200 Million Securitization from Fortis Bank
'Superpower' Lending Capacity Now Extends into the Billions |
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$20 Million Loan from Kennedy Funding Helps Developer Acquire Prime Piece of Downtown Philadelphia
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$14.5 Million Loan From Kennedy Funding Helps Save Developer's Plans for 50 Acres on Hawaii's Big Island
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Kennedy Funding's $3.72 Million Loan Helps Atlanta Area Mixed-Use Project Get Underway
The Lofts on Antique Row Loan Closes in Only Two Weeks |
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Kennedy
Funding Nears $200 Million in Loans for Fiscal Year 2006 |
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Kennedy
Funding Loan to Louisiana Developer Speeds Renovation of
Hotel |
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$2.13
Million Loan from Kennedy Funding Helps Hotel & Restaurant Owner Refinance and Consolidate |
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Kennedy Funding Introduces Useful New Tools for Commercial Mortgage Brokers & Hard Money Borrowers |
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Jeffrey
Wolfer of Kennedy Funding Wins Coveted Award President &
Co-CEO Named 2006 Forty Under 40 Winner |
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Funding Loans $2.1 Million to Florida Developer for Purchase
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Funding’s $4.2 Million Loan Helps Illinois Developer Refinance 64-Acre Parcel
Lender’s 2nd Loan to Ocean Atlantic/PFG-Westbury, LLC Keeps Development Plans On-Track |
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$1.845
Million Loan from Kennedy Funding Helps California Developer
Bring a Little Bit of Beverly Hills to Lexington, Tennessee |
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Paul
Goldstein & Englewood Hospital Big Winners at The Kennedy Funding Invitational |
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$2.9
Million Loan from Kennedy Funding Helps Niagara Falls Investor Leap into the Hotel Business |
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$1.65
Million Loan from Kennedy Funding Helps Pennsylvania Developer Turn Timeshares into Condos |
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Timely
Loan from Kennedy Funding Helps OneCap Partners Purchase 78 Acres in 'Next Las Vegas'
$12 Million Loan Closes in Less Than a Week |
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$7.8
Million Loan from Kennedy Funding Helps Partners Own a 403-Acre Piece of Maryland
Raw Land Loan Closes in Just Two Week |
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The
Kennedy Funding Invitational to Benefit Breast Care Center at Englewood Hospital
Will Feature Top-Ranked Tennis Players From Around the World |
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$9
Million Loan from Kennedy Funding Helps Elias Brothers Keep
Florida Development Plans Alive |
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Kennedy Funding – 2 Loan Closings, 2 Countries, 1 Day. |
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$3.864
Million Loan from Kennedy Funding Helps Kings Highway Acquire Land and Buy Out Partners |
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$6.525
Million Loan from Kennedy Funding Helps a Los Angeles Condominium Conversion Get Under Way |
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$1.2 Million
from Kennedy Funding Will Help Make West Hills Golf Course
a Driving Force in New Brunswick, Canada |
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$9.78
Million Loan From Kennedy Funding Facilitates 571-Acre New York Resort Purchase |
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$12
Million loan from Kennedy Funding saves Mississippi Shores
Of Paradise project in wake of Katrina |
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$50
Million Loan From Kennedy Funding to Saguaro Ranch Heats up
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JEFFREY
WOLFER AIDS KATRINA RECOVERY EFFORT |
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$6.8
Million Loan From Kennedy Funding Puts the Beat in Houston
Nightclub |
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Kennedy
Funding Sets 'Land Speed' Record — Closes $3.25m Vegas
Acquisition Loan in 48 Hours |
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$40
million loan from Kennedy Funding facilitates 214-acre Florida
land purchase |
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8
properties in 5 states change hands in one transaction thanks to $6 million loan from Kennedy Funding |
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Funding Loans $6.5 Million for One of the Last Land Parcels On the Outer Banks |
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$12
Million Loan From Kennedy Funding Buys Prime Land on the
Navesink River |
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$4
Million From Kennedy Funding Buys Hotel And Additional Land Near Walt Disney World |
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$5.5
Million Acquisition Loan from Kennedy Funding Puts Michigan
Condos Back on Track |
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Kennedy
Funding Loans $10 Million for Park Avenue Duplex Condominium |
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$2.5
Million Loan From Kennedy Funding Takes Detroit Hospital
Off Life Support |
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Kennedy Funding Lends $2.7 Million to Aquaplex Project in Wisconsin |
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Funding Rescues Blue Ridge Mountains' Developer |
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Kennedy
Funding Introduces New Low Rate Loan Program |
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Non-Profit
Philadelphia Hospital Gets Life-Saving Loan of $5.325 Million
From Kennedy Funding |
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$2.5
Million Loan From Kennedy Funding Fuels Purchase of Florida
Sunoco Station |
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$3.5
Million loan from Kennedy Funding delivered in record time
to development company in Florida |
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Kennedy Funding's
$2.6 million loan rescues bankrupts company in Camden, New
Jersey |
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New
Resort to Rise on Sandy Beach in Puerto Rico, Thanks
to Loan From Private Lender Kennedy Funding |
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$4
Million Loan From Kennedy Funding Helps Developer Bring
Gaming Enterprise to Mexico City |
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Country
Club with Golf Course Coming to Maine with Help of $3.4
Million Loan From Kennedy Funding |
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Home improvement
company spruces up with $3.5 million loan from Kennedy Funding |
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Highrollers
meet steamrollers as Kennedy Funding loans $18.5 million
for major development on Las Vegas strip |
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Kennedy
Funding Loans $3.9 Million to Developers for St. Croix, Virgin
Islands Resort |
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Kennedy
Funding borrower returns for second loan to build condos
on island of Cozumel, Mexico |
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Kennedy
Funding's $3.4 million loan will help provide affordable
housing in Mexico |
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Kennedy
Funding's $5.2 million loan paid back by borrower in record
time |
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Kennedy
Funding loans $6.6 million to developer of Florida beachfront
condos |
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Kennedy
Funding lands in paradise with $5.4 million loan to developer
of Fiji island resort |
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Kennedy
Funding loans $3 million to California developer |
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Kennedy
Funding Lends $1.5 Million to Colorado Developer for New
Community adjacent to Vail's Keystone Resort |
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Kennedy
Funding Lends $2.3 Million to Mexican Developers |
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Kennedy Funding Receives $14.5 Million Payback On Defaulted Loan
from Penthouse Founder Guccione |
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Kennedy
Funding Lends $18 Million to Developers of Next 'Sun Valley' |
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Kennedy Funding
issues $5.3 million loan to Travis Boats & Motors (NASDAQ: TRVS) |
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Kennedy Funding
bails out South Florida Developer with quick $3 million second
mortgage bridge loan |
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Kennedy Funding
lends $1.8 million to Port Saint Lucie, Florida Developer |
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Kennedy Funding Expands Media Expertise With Loan To Hispanic
Radio Station |
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Kennedy Funding
Lends $6 Million To Leading Operator Of Charter Schools |
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Kennedy Funding Scores Hole-In-One with Multimillion Dollar Loan
to Golf Course Developer |
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Kennedy Funding’s
Two Day Loan Rescues Building From Foreclosure |
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In
Private Lending, Bigger is Better |
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Kennedy
Funding Loan of $2.2 Million Breaths ‘New Life’ Into Funeral Home |
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Quick
$3.5 Million Loan by Kennedy Funding Funds Acquisition of Former
Hospital |
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Michigan Hoteliers
Do It Their Way with Multimillion Dollar Loan from Kennedy
Funding |
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Guccione
Gets $35 Million Reprieve |
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NJ Lender
Bails Out Auto Dealer in Far-Off St. Maarten |
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Kennedy Funding
Expands Lending Expertise with Loan to NYC TV Station |
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Kennedy
Funding Plays Key Role in $66 Million Loan to Florida
Developer |
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Kennedy Loan
Funds Conversion of Dormant Inn to a State of
the Art Ramada Plaza Hotel |
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Kennedy
Funding Lends $16.5 Million to Developer of Arizona
Championship
Golf Club |
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Private Lenders
Emerge as Main Source of Capital as $30 Billion
in Commercial
Loans Are at Risk |
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Hackensack
Lender Provides $7.1 Million Loan for Major Land
Deal
in Texas |
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Kiwi Gets $2.2
Million to Help Recovery |
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Kennedy
Funding's $1.1 million loan rescues recycling pioneer from
bankruptcy |
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Kennedy
Funding takes to high seas with $5.1 million loan to international shipping line |
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Kennedy
Funding lends assisted-living housing facility $500,000
to pay down $1.9 million Hud loan |
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Kennedy Funding's
$7.6 Million Loan Helps MPTV, Inc. Launch Las Vegas Time
Share Project |
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Kennedy
Funding rescues bankrupt developer with creative financing |
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