Kennedy Funding Closes $1.5 Million Land Loan in 18 Days for Alabama Multifamily Development

Direct private lender's 9% loan helps fast-track 41-acre site purchase in booming Gulf Coast region

ENGLEWOOD, N.J., July 16, 2026 /PRNewswire/ -- Kennedy Funding, one of the nation's leading direct private lenders, has closed a $1.5 million land loan for the acquisition of a 41.09-acre fully entitled multifamily development site along Highway 59 in Loxley, Baldwin County, Alabama.

The financing, provided to Vision of Loxley APT, LLC, was completed in just 18 days, enabling the borrower to satisfy a contractual acquisition deadline on a property approved for 420 multifamily units. The borrower is purchasing the site for $3 million.

Kennedy Funding's financing also featured an impressive 9% first-year interest rate, an exceptionally competitive rate for a land acquisition loan.

"This was exactly the kind of opportunity Kennedy Funding is built for," said Mark Falzone, Executive Loan Officer at Kennedy Funding. The borrower faced a firm purchase deadline, brought substantial equity to the transaction and had a development-ready property.

"We recognized the urgency immediately and moved quickly to provide the funding needed so the acquisition could move forward."

Andrew Williams, Managing Partner at KLEI Capital, a San Diego-based broker, praised Kennedy Funding's responsiveness. "There was another lender who could not get the deal across the finish line, so we reached out to Kennedy Funding, a lender with extensive experience in land loans and a reputation for closing fast. Kennedy said they could close by the deadline, and they did. They responded right away, quickly vetted the deal, and the entire experience was phenomenal," Williams said.

Located along Highway 59, one of Baldwin County's primary commercial corridors, the site offers direct access to Interstate 10 while placing future residents within convenient commuting distance of Mobile, Pensacola and Alabama's Gulf Coast beaches. Highway 59 serves as the backbone of central Baldwin County, connecting rapidly expanding residential communities with employment centers, shopping, healthcare and transportation. Population growth, expanding healthcare, manufacturing, logistics, tourism and new business investment continue to drive demand for housing throughout the region.

Adding to the area's momentum is the nearby Gulf Alabama (Port Alabama) Industrial Center, a more than 900-acre industrial development planned to include approximately 12 million square feet of industrial space. The project is expected to generate thousands of jobs while strengthening the Highway 59 and Interstate 10 corridor as one of the Gulf Coast's premier logistics and industrial hubs.

The region is also benefiting from significant corporate and industrial investment. Novelis is constructing a $4.1 billion dollar aluminum rolling and recycling facility in Baldwin County that is expected to create significant job opportunities. Nearby Mobile is also home to Airbus' U.S. Manufacturing Facility and Austal USA, a ship manufacturer headquartered in the city.

"Deals like this demonstrate where Kennedy Funding's private lending adds the most value," said Kevin Wolfer, CEO of Kennedy Funding. "When qualified borrowers face extremely tight deadlines, they need certainty of execution. Our team was able to provide that certainty and keep this project moving forward."

The approved 420-unit project will help meet increasing housing demand generated by the area's expanding population, expanding industrial base and growing workforce.

With development-ready land becoming increasingly difficult to find in high-growth markets, the loan highlights both the continued demand for multifamily housing across Baldwin County and Kennedy Funding's ability to deliver customized financing solutions when speed, certainty and execution matter most.

About Kennedy Funding

Kennedy Funding is a global direct private lender specializing in bridge loans for commercial property and land acquisition, development, workouts, bankruptcies and foreclosures. Kennedy Funding has closed more than $4 billion in loans to date. Their creative financing expertise provides funding up to 75% loan-to-value, from $1 million ($3 million international) to more than $50 million, in as little as five days. The company has closed loans throughout the United States, the Caribbean, Europe, Canada, and Central and South America.

For more information or to discuss funding solutions, visit www.kennedyfunding.com.

SOURCE Kennedy Funding