By: Staff Writer
June 4, 2021
A US based international financier said that there is no competition for him in the Caribbean as he is set to close another multimillion dollar loan for a private house in St Barts.
Kevin Wolfer, chief executive officer for Kennedy Funding, told Caribbean Magazine Plus just a few short weeks after closing a $2.3m loan in the Dominican Republic that he is less than two weeks away from closing another major loan in St Barth’s for $3m.
The loan will be for a large private seven room dwelling in the French protectorate and is another huge feather in the cap for Kennedy’s boss.
Mr Wolfer added: “As far as the Caribbean goes, I think it’s just St Barth’s that is scheduled to close in the next couple of weeks and there’s nothing else scheduled in the Caribbean right now.”
He did say, however, that discussions are underway for Kennedy to support a mid-level development in Belize, a market he has already closed a loan in last year.
The loan in the Dominican Republic went towards a mixed-use commercial space in an already smoking hot DR real estate market.
Earlier this year, Kennedy also closed a $1.4m loan to P&L Holdings LTD, with loan proceeds to be used to acquire 2,486.31 acres of raw land with waterfront views, located in Milk River, Clarendon Parish, Jamaica.
Mr Wolfer is not shy about making investment moves in the Caribbean and said, “We’ve closed tonnes of deals in the Caribbean and we actually love working in the Caribbean. We have good legal counsel and all of these locations.
“We find there’s less competition. For whatever reason, a lot of the US lenders don’t like to make loans outside the US, but we enjoy doing it.”