Regions Southeast | Miami
Oct 27, 2008
The financial crisis is not keeping Kennedy Financing from doling out loans. The Hackensack, N.J.-based direct private lender has just closed a financing deal for 888 Biscayne Enterprises L.L.C.'s acquisition of 44,000 square feet of unfinished commercial space on four floors of the newly developed Marina Blue Condominium building overlooking Biscayne Bay in Miami. According to Kennedy Financing, its reasons for providing the loan in the midst of such volatile financial times and Miami's suffering real estate market included the property's premier waterfront location, the sales success of the residential segment of the building, and the strong credit history of the borrower, a commercial developer.
The financial crisis is not keeping Kennedy Financing from doling out loans. The Hackensack, N.J.-based direct private lender has just closed a financing deal for 888 Biscayne Enterprises L.L.C.'s acquisition of 44,000 square feet of unfinished commercial space on four floors of the newly developed Marina Blue Condominium building overlooking Biscayne Bay in Miami. According to Kennedy Financing, its reasons for providing the loan in the midst of such volatile financial times and Miami's suffering real estate market included the property's premier waterfront location, the sales success of the residential segment of the building, and the strong credit history of the borrower, a commercial developer.
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