|
|
Article: Kennedy Funding loan saves over 500 jobs in The Bronx.
- Article from:
- Real Estate Weekly
- Article date:
- November 5, 1997
CopyrightCOPYRIGHT 1997 Hagedorn Publication. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
When a loan is granted that rescues a troubled real estate property facing bankruptcy, the economic ramifications are widely felt, affecting many people besides the principals.
This often unrecognized benefit was recently demonstrated by Kennedy Funding of Hackensack, NJ, when the firm granted a $4 million loan that saved the jobs of more than 500 people in The Bronx, all of whom are former employees who will go back to work as companies return to the revitalized building.
Kennedy Funding, nationally recognized for structuring creative financing to save troubled real estate projects, helped turnaround the 430,000 square-foot building on a 10-acre site on ...