Kennedy Funding announced that it has closed a $2.1 million cash-out refinance loan secured by land within the Suwanee Preserve subdivision in Forsyth County, Georgia, enabling the borrower to unlock capital tied up in the residential development.
The loan is backed by 18 subdivided residential lots located at 3550 Alexander Circle in Cumming, part of the larger Suwanee Preserve community. The property spans approximately 18.8 acres, with individual lots ranging from about 0.5 to 0.63 acres.
According to the announcement, the subdivision’s infrastructure is already complete, including utilities and road access, positioning the project for continued residential construction. The borrower originally acquired the property in May 2024 for $2.77 million and sought refinancing to access equity from the development.
The site is located in southeastern Forsyth County, just east of Buford Highway, an area experiencing population growth and strong housing demand driven by expansion in the greater Atlanta metropolitan region.
Kennedy Funding structured the financing based primarily on the underlying real estate and development readiness. The company specializes in providing flexible capital for projects that may not fit conventional lending criteria, including land and partially completed developments.
The transaction also involved coordination among the firm’s internal credit operations and processing teams to bring the land loan to closing.
Kennedy Funding is a global direct private lender that focuses on bridge loans for commercial property and land transactions, including acquisitions, development projects, restructurings, bankruptcies, and foreclosures. The firm has closed more than $4 billion in loans worldwide and provides financing ranging from $1 million to over $50 million, with loan-to-value ratios of up to 75%.
KEY QUOTES
“This was an ideal situation where the borrower had already completed the heavy lifting. 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.”
Edwin Urrego — Executive Loan Officer, Kennedy Funding
“Traditional lenders often hesitate when it comes to land or partially completed developments. But when the fundamentals are strong — location, completed infrastructure, and clear development plans — we can move quickly to provide the capital borrowers need.”
Kevin Wolfer — President And CEO, Kennedy Funding
“This was truly a team effort, and I’m grateful to have worked alongside such a committed and professional group.”
Vin Saini — CRE Operations, Credit Operation And Processing, Kennedy Funding
