Kennedy Funding Closes $5.625 Million Land Loan for 142-Acre Project in Dominican Republic

Cross-border transaction underscores direct private lender’s expertise in financing land where traditional banks are reluctant to lend

Of the thousands of commercial banks in the United States, very few, if any, provide financing for land acquisitions in the Caribbean.

Securing financing for overseas land acquisitions presents challenges beyond those typically encountered in the United States. Foreign real estate laws, government regulations, local land valuations, cultural differences, and unfamiliar closing procedures create additional obstacles that many traditional lenders are unwilling or unequipped to navigate.

Enter Kennedy Funding, one of the leading direct private lenders in the U.S.

The Englewood, New Jersey-based lender has earned an enviable reputation as a go-to source for land financing around the globe.

The private lender announced that it has closed a $5.625 million land loan to Cruise on Land DR, S.R.L., for the acquisition of 10 contiguous parcels of land in the municipality of Higüey, La Altagracia Province.

The nearly 573,946-square-meter property is part of an ambitious, large-scale residential-tourism development planned for the Punta Cana region, one of the Caribbean’s most prominent tourism destinations.

Kennedy Funding Executive Loan Officers Edwin Urrego and Mark Falzone played pivotal roles in successfully closing the land acquisition loan.

For Kennedy Funding, navigating these complexities has become a core part of its business.

“Closing a land loan internationally requires a completely different level of experience and expertise,” said Edwin Urrego, Executive Loan Officer at Kennedy Funding.

“You’re dealing with different laws, regulations, legal systems, and ways of doing business. You need to understand the local market, know the value of the land, and work with the right professionals to get a transaction across the finish line. That’s where our experience in international lending makes a difference.”

Located along the Higüey–Verón corridor, the Cruise on Land development will purportedly combine hotel condos, hospitality, entertainment and recreational attractions in a single integrated destination.

According to project plans, the condominium-hotel component will feature 15 mid-rise buildings with a total of 3,768 apartments developed in multiple stages. The broader development includes a recreational and theme park area spanning more than 276,000 square meters, with plans for entertainment attractions, sports facilities, landscaped public spaces, and an amphitheater. Additional plans call for a hotel as part of the integrated development.

The project has already achieved important development milestones. In October 2025, Cruise on Land Punta Cana received Definitive Classification from the Dominican Republic’s Tourism Development Council under the country’s tourism development law, formally recognizing the project as a tourism real estate development. Site preparation, roadway improvements, utility installation, and other early construction activities were also documented in the property’s appraisal.

“No international deal is exactly the same. And that’s why experience matters,” said Kevin Wolfer, CEO and President of Kennedy Funding.

“We’ve spent decades building the relationships and capabilities needed to do business across borders. We don’t shy away from these types of funding opportunities simply because they’re unfamiliar. We see the potential, we understand what’s required, and we find a way to get deals done.”

The transaction was brought to Kennedy Funding through international investment banking advisor Fernando Serrano of Los Angeles-based Perla Global Capital Advisors.

“We recognize Kennedy Funding’s important role in the capital markets, which certainly adds value to our clients and, most importantly, provides access to capital,” Serrano said.

Beyond land acquisitions, Kennedy Funding provides financing for working capital, cash-out refinancing, and other complex commercial real estate needs. With more than $4 billion in closed loans throughout the United States and international markets, the company continues to provide financing solutions for transactions that fall outside conventional lending guidelines.

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. Its creative financing expertise provides funding up to 75% loan-to-value, from $1 million ($3 million international) 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.