#United States #Kennedy Funding #Englewood #Dominican Republic #Vista del Atlántico

Kennedy Funding Enhances Luxury Development in the Dominican Republic

In a significant move for luxury real estate development, Kennedy Funding, a prominent direct private lender from Englewood, New Jersey, has successfully closed a $1.7 million land loan. This funding will spur the construction of a lavish mixed-use development known as Vista del Atlántico, strategically located in Puerto Plata, a sought-after tourist destination within the Dominican Republic.

Project Overview

Vista del Atlántico is an ambitious project designed to feature 152 stylish villas, each offering either three or four bedrooms. The loan proceeds will be utilized mainly for the construction phases and essential working capital to ensure the project progresses smoothly. Kevin Wolfer, the CEO and President of Kennedy Funding, expressed his enthusiasm for the project, emphasizing the challenges faced by international real estate developers in securing financing.

"There are numerous profitable opportunities for real estate development outside the U.S.; however, finding a lender that supports such ventures is often a daunting task," says Wolfer. "Our experience and insight allow us to bridge this gap for borrowers targeting profitable international projects."

Kennedy Funding has a solid track record of closing land loans beyond U.S. borders, particularly in regions like the Caribbean and Central America. Wolfer notes the common reluctance of traditional lenders to engage in international land loans, which are already complex to secure domestically.

Unique Financing Approach

International lending requires extensive knowledge of local markets, legal frameworks, and land valuations. Kennedy Funding prides itself on its robust infrastructure and established relationships within target regions, allowing it to effectively fund projects like Vista del Atlántico.

Mark Falzone, Kennedy Funding's Executive Loan Officer, highlighted Atlantic Blue Group 3DRD, SRL as the borrower behind this transformative project. This renowned developer is distinguished by a history of successful developments in the Dominican Republic, which played a pivotal role in Kennedy's funding decision. "We are not bound by rigid requirements; our flexibility enables us to evaluate each project based on its unique merits and the borrower's vision," added Falzone.

Development Details

The Vista del Atlántico project covers a substantial 45-acre site, with construction already underway across two initial phases occupying 25 acres. Noteworthy features of this luxurious community will include:

• - A stunning clubhouse
• - State-of-the-art gym facilities
• - Tennis and basketball courts
• - Relaxing spa areas
• - Meeting and event spaces

Security has also been prioritized, with plans for 24-hour surveillance and secure perimeter fencing.

Perhaps one of the standout features will be a restaurant nestled on an island at the center of a five-acre lake within the complex. Future residents will benefit from on-campus amenities, including a supermarket, pharmacy, beauty salon, and even a horse stable. To enhance accessibility, a heliport is planned, facilitating convenient transport for visitors from other regions.

Mark Falzone commented on the project’s positive outlook, stating that the anticipated value post-construction is over $53 million. The strategic location in Puerto Plata, known for its connectivity through various transport options, including an international airport and cruise ship ports, further enhances the project’s viability.

"The developers possess an outstanding vision for this iconic getaway, leveraging Puerto Plata’s position as a top tourist hub," Falzone remarked. "With the completed pre-sale of various villas, we are confident in the project's success."

Kennedy Funding’s adaptable approach to lending allows it to support innovative developments like Vista del Atlántico, setting it apart as a vital partner in international real estate ventures.

For those seeking similar funding opportunities within the Dominican Republic or across the Caribbean, detailed information can be found at www.kennedyfunding.com.

About Kennedy Funding

Established as a leading global direct private lender, Kennedy Funding specializes in bridge loans for commercial properties, land acquisition, and development efforts. With over $4 billion in loans closed, the firm is recognized for its creative financing solutions that provide up to 75% loan-to-value, ranging from $1 million to more than $50 million in as little as five days. Its impact spans across the U.S., Caribbean, Canada, Europe, and South America.

Visit www.kennedyfunding.com for more details on their expansive financing services.