Kennedy Funding Secures $5.625 Million Land Loan for Major Caribbean Development

Kennedy Funding, a prominent direct private lender based in Englewood, New Jersey, has successfully finalized a significant $5.625 million land loan for Cruise on Land DR, S.R.L. This financing enables the acquisition of approximately 142 acres of land located in the municipality of Higüey, situated in the La Altagracia Province of the Dominican Republic. This acquisition is a crucial step in developing an ambitious residential-tourism project aimed at enhancing the Punta Cana region, recognized as a premier destination in the Caribbean.

In a landscape where many traditional commercial banks in the U.S. hesitate to finance international land purchases, Kennedy Funding has carved out a niche as a reliable provider of land financing across borders. The complexities involved in such transactions are often beyond the capabilities of conventional lenders. Factors like foreign real estate laws, local regulations, distinctive land valuation methods, and various cultural nuances create a unique set of challenges for those looking to secure financing in overseas markets.

One notable aspect of this deal is the involvement of Kennedy Funding's Executive Loan Officers, Edwin Urrego and Mark Falzone, who played pivotal roles in navigating the various obstacles involved in the land acquisition loan. In the words of Urrego, "Closing a land loan internationally requires a completely different level of experience and expertise. You’re dealing with different laws, regulations, legal systems, and ways of doing business." The demand for an in-depth understanding of the local market, land values, and collaboration with regional experts makes Kennedy Funding's approach distinctive.

The planned development by Cruise on Land is expected to offer integrated amenities such as hotel condominiums, entertainment hubs, and recreational facilities. Specifically, the complex is designed to feature 15 mid-rise buildings, comprising a total of 3,768 apartments to be constructed in multiple phases. In addition, the project plans to encompass more than 276,000 square meters dedicated to recreational areas, complete with a theme park, sports facilities, public green spaces, and even an amphitheater. This marks a significant step forward in redefining the entertainment and tourism landscape in Punta Cana.

In October 2025, the development achieved a milestone by receiving the Definitive Classification from the Dominican Republic's Tourism Development Council, cementing its status as a recognized tourism real estate project. Initial phases like site preparation and utility installations already reflect positive progress on this major project.

Kevin Wolfer, CEO and President of Kennedy Funding, emphasized the importance of experience in international deals, stating, "No international deal is exactly the same. And that’s why experience matters. We’ve spent decades building the relationships and capabilities needed to do business across borders." By leveraging its expertise and understanding of diverse markets, Kennedy Funding is able to meet the unique financial needs associated with overseas transactions.

This strategic financing transaction was facilitated through the efforts of Fernando Serrano, an international investment banking advisor based in Los Angeles. He acknowledges Kennedy Funding's critical role in capital markets, stating that their expertise adds substantial value to clients while providing enhanced access to necessary capital resources.

Kennedy Funding's portfolio extends beyond land acquisitions, offering solutions that include working capital financing, cash-out refinancing, and addressing various complex commercial real estate needs. With an impressive total of over $4 billion in closed loans both domestically and internationally, the company continues to stand out as a versatile player in the realm of unconventional lending, consistently delivering tailored funding solutions.

For further insight into their services, visit Kennedy Funding's website.

About Kennedy Funding

Kennedy Funding specializes in bridge loans for commercial properties and land acquisitions, catering to various financial needs from development to workouts and foreclosures. Over the years, the company has established a significant presence in providing financing solutions that align with the specific demands of the real estate market, capable of facilitating loans from $1 million to over $50 million within expedited timelines, often in as little as five days. Their operational reach extends throughout the U.S. and into various international markets including the Caribbean, Europe, and Latin America.