Recent Canadian Closings

Here are some of our international loans.  What Kennedy did for them, we can probably do for you.

$1.2 Million from Kennedy Funding Helps Turn West Hills Golf Course Into Driving Force in New Brunswick, Canada

Hackensack, NJ – To Ken Marshall and Dave Loten of Rebel Ridge Golf Club, Ltd., the city of Fredericton in New Brunswick, Canada seemed the perfect place to build a golf course. They saw that while Fredericton enjoyed a golf season of only about six months, the sport was very big in the area, with high numbers of rounds at existing courses. In fact, the popular Fredericton Golf Club and The Lynx at nearby Kingswood were both doing around 25,000 rounds a year minimum, with green fees set at $45 plus power cart, and full club memberships around $1,600.

Then Hill Bros. Realty & Investments, Ltd. decided to sell a 181-acre tract of land designated for a golf course which they themselves opted out of building. And Rebel Ridge jumped at the opportunity. They came up with approximately 75% of the construction costs, using money allocated by Hill Bros. Realty, and monies generated from the sale of memberships.

But it still left Rebel Ridge about 25% short. And no lender seemed able to help them out – and then they met with Kennedy Funding.

Kennedy Funding, provided Rebel Ridge with the short-term amount they needed, in the form of a five-year, interest-only loan. “We saw the potential in this project,” said Jeff Wolfer, president of Kennedy. “That’s why we made sure Rebel Ridge got the terms they needed to make this project succeed.”

Armed with the needed funds, Rebel Ridge is building a signature 18-hole, 72-par course in West Hills, a gated golfing community on the north end of Fredericton. Rebel Ridge will also be constructing a clubhouse and driving range. “Kennedy Funding is a full-service lender in every sense of the word,” added Wolfer, “including lending at rates and terms favorable to the borrower whenever possible.”