Suwanee Preserve at 3550 Alexander Circle in Cumming, Georgia — Courtesy: Kennedy Funding
Kennedy Funding has closed a $2.1 million cash-out refinance loan to the owner of a growing residential development in Georgia.
The private direct lender, which is based in Englewood, said the deal is tied to an 18-lot subdivision at 3550 Alexander Circle in Cumming, part of a larger residential community known as Suwanee Preserve in Forsyth County. The land loan allows the borrower to unlock capital tied up in the property, Kennedy said, noting that the subdivision’s utilities and roads are already in place, positioning the project for continued residential construction…