Kennedy Funding closes $2.7M land loan with 8% interest rate in Tacoma, Wash., suburb

Dhaliwal TC Landing LLC secured a $2.7 million land loan from Kennedy Funding to develop a mixed-use property in Edgewood, Washington. Despite facing challenges such as environmental issues and developer agreement problems, the loan was closed at an 8% interest rate. The project involved purchasing land parcels and working with the town for construction approval. Kennedy Funding is known for closing deals that other lenders may avoid, focusing on finding solutions to help borrowers achieve their goals. Edgewood's location near Tacoma and Seattle makes it an attractive area for housing and retail development due to its growing population and employment opportunities.

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