Kennedy Funding Closes $2.1 Million Land Loan on 18-Lot Subdivision in Forsyth County, Georgia
Developer cashes out and refinances at prestigious Suwanee Preserve
Englewood, N.J. — Edwin Urrego, executive loan officer at Kennedy Funding, is no stranger to land loans. Investors and developers across the country regularly turn to the New Jersey private lender for funding on land transactions for all kinds of purposes, including acquisitions, workouts, and cash-out financing.
This was the case in Forsyth County, Georgia, where a borrower seeking to unlock capital tied up in their property turned to Kennedy Funding for a $2.1 million cash-out refinance loan secured by land within the Suwanee Preserve subdivision.
The collateral consists of 18 subdivided residential lots located at 3550 Alexander Circle in Cumming, part of a larger residential community known as Suwanee Preserve. The subdivision infrastructure has already been completed, with utilities and roads in place, positioning the project for continued residential construction.
The borrower originally purchased the property in May 2024 for $2,770,000 and sought a cash-out refinance loan to unlock capital tied up in the development.
“This was an ideal situation where the borrower had already completed the heavy lifting,” said Urrego, who originated the loan. “The lots were fully subdivided, infrastructure was in place, and the property sits in one of the fastest-growing residential corridors outside Atlanta. By focusing on the real estate itself, we were able to structure a loan that allowed the borrower to access equity and continue moving the project forward.”
Kennedy Funding President and CEO Kevin Wolfer said the transaction highlights the firm’s ability to provide flexible financing for land and development projects that may fall outside traditional lending models.
“Traditional lenders often hesitate when it comes to land or partially completed developments,” said Wolfer. “But when the fundamentals are strong — location, completed infrastructure, and clear development plans — we can move quickly to provide the capital borrowers need.”
The deal also showcased the coordination required across Kennedy Funding’s internal teams to bring complex land transactions to closing.
“This was truly a team effort, and I’m grateful to have worked alongside such a committed and professional group,” said Vin Saini of CRE Operations – Credit Operation and Processing.
About Kennedy Funding
Kennedy Funding is a global direct private lender specializing in bridge loans for commercial property and land acquisition, development, workouts, bankruptcies, and foreclosures. Kennedy Funding has closed more than $4 billion in loans to date. Their creative financing expertise provides funding up to 75% loan-to-value, from $1 million ($3 million internationally) to more than $50 million in as little as five days. The company has closed loans throughout the United States, the Caribbean, Europe, Canada, and Central and South America.
