hedgefunds
Kennedy Closes Deal With Hedge Fund for 119 Hurricane Struck Homes
Filed in archive Hedgetalk by Alex Akesson on February 5, 2007
Kennedy Closes Deal With Hedge Fund for 119 Hurricane Struck Homes
Trinity Development Partners along with equity partner Stillwater Capital Partners, a NY-based hedge fund, closed a $23.3 million deal with private lender Kennedy Funding for a waterfront real estate purchase in West Palm Beach, Florida.

The hedge fund partners borrowed the funds for a complete renovation of the 119 homes that were damaged after back-to-back hurricanes Frances and Jeanne pounded the area relentlessly in 2004, and Hurricane Wilma added further damage in 2005.

Jeffrey Wolfer, President and Co-CEO of Kennedy Funding said, "With this many unique and unusual circumstances, a loan like this wouldn't meet the criteria of traditional lenders.......That's why it's called situational lending-we consider each situation individually and evaluate it as such."

Nice to see some progress is being made, although I still think two years was a bit long to wait.

Permalink: Kennedy Closes Deal With Hedge Fund for 119 Hurricane Struck Homes
Tags: hedge+fund  hedge  fund  funds  business  hedge+funds  closes+deal 
Trackback: http://publish.creative-weblogging.com/publish/mt-tb.pl/52412
img Addthis img Ask img Blinklist img del.icio.us img Digg img Fark img Facebook img Google img Lycos img Ma.gnolia Add this page to Mister Wong Mr Wong img Netscape img Netvousz img Newsvine img Reddit img StumbleUpon img Slashdot img Tailrank img Technorati img Wink img Yahoo

Vote for Kennedy Closes Deal With Hedge Fund for 119 Hurricane Struck Homes:

  • Currently 10.00/10
  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
Rating: 10.00 out of 1 vote(s) cast.
Subscribe
Share It
RSSrss
See all blog subscribe options
Google google
What is RSS?
Yahoo! yahoo
Addthis Subscribe using any feed reader!
Bloglines Bloglines
Newsletter

TwitterFollow us on Twitter!