Chase Wolfer of Kennedy Funding secures $3.7M for Crown Court renovation in Inverness, FL

Rapid-funding leader supports critical upgrades at Florida senior housing community

ENGLEWOOD, NJ — The Crown Court senior housing community will soon undergo renovations to its 120-year-old facility, thanks to a loan from Kennedy Funding, a New Jersey based direct, private lender.

Borrower Vseva Crown Court LLC purchased the 0.697-acre property for $3.725 million.

Crown Court is centrally located in a tranquil neighborhood ideal for retirement. The Inverness area, about 75 miles north of Tampa in central Florida, has a reputation as a safe, closely connected community. Easily accessible by Florida Hwy. 44 and US Hwy. 41, Crown Court is close to nearby parks, lakes, restaurants, and healthcare facilities.

According to Kennedy Funding Loan Officer Chase Wolfer, who closed the deal, the borrower was eager to begin facility upgrades.

“The Crown Court community is known for providing high-quality care, and the planned improvements will make this facility even better for its residents,” Wolfer said. “Securing this loan so quickly for a project this important is exactly why borrowers turn to Kennedy when they need funding in a short turnaround time.”

The demand for senior housing is growing as millions of Americans reach the age of 80; half of assisted living residents are aged 85 or older. More than 900,000 people aged 80 or older live in FL alone. The need vastly exceeds current construction trends; around 4,000 new senior living units will be developed this year and next year, but 100,000 beds per year are needed to keep up with projected demand.

“There’s exponential growth in the senior living commercial real estate market, and an urgent need to meet the expected demand for beds over the next decade,” Wolfer said. “Facilities like Crown Court are providing a sorely-needed service in an incredibly in-demand sector.”

The Crown Court transaction is a perfect example of the direct private lender’s leading areas of expertise: closing loans in days or weeks instead of months. When big banks and traditional lenders put up roadblocks that slow clients down, Kennedy clears the way for a smooth funding journey.

“Time is money when it comes to commercial real estate projects, and with traditional lenders, the lengthy funding process stalls work on the kind of renovations Crown Court wants to make,” Kevin Wolfer, CEO and president of Kennedy Funding, said. “When you partner with Kennedy, you don’t have to worry about unpredictable, unreliable, or drawn-out closing dates. We’re here to get you to the closing table as soon as possible.”

Known for lending both in the US and abroad, Kennedy Funding has seen a surge in lending activity in the Sunshine State. Recent transactions include a $3.375 million loan for a mixed-use development in Apopka, a $7.5 million land loan for a luxury townhome development in Santa Rosa Beach, and a $4.85 million purchase for a future Alzheimer’s care facility in Jacksonville.

“Florida remains a hotspot for commercial real estate investing and development,” Chase Wolfer said. “As people continue to move to FL in high numbers, they’ll need housing, shops, places to work, and assisted living facilities like Crown Court, to support them at every stage of their lives.”

The direct private lender closes loans ranging from $1 million to $50 million in as little as five days. Loan proceeds can be used for acquisitions, working capital, workouts, bankruptcies, and foreclosures.