ENGLEWOOD, N.J. – November 05, 2026 -- Kennedy Funding has closed a $3,633,000 loan for Port of the Islands Resort, a mixed-use condominium and hospitality property at 25000 Tamiami Trail East in Naples, Florida.
The financing gives borrower A&T Investment LLC capital to pay off about $1.6 million in three existing loans, fund renovations and remodeling, and provide working capital. Benjamin Birch, president of New York City-based commercial financing firm Stratas, brokered the transaction. He said Kennedy gave the borrowers "several concessions to make sure the deal closed."
Kennedy Funding takes on a mixed-use asset that strains conventional lending criteria
Kennedy Funding loan officer Chase Wolfer said mixed-use properties often fall outside traditional lending requirements. He said the borrower needed one financing to address existing debt while also funding improvements and operations.
Kennedy Funding's asset-based approach focuses on the value of the real estate. As a direct private lender, it can decide without the lengthy approval processes often associated with banks. President and CEO Kevin Wolfer said the firm has closed more than $4 billion in loans since 1987. The firm offers up to 75% loan-to-value, with loans from $1 million ($3 million international) to more than $50 million, in as little as five days.
Resort on 7.7 acres carries development rights for 90 more residential units
The resort is part of a larger condominium development that combines short-term accommodations, longer-term residential rentals and commercial space. The property includes a full-service restaurant and bar, offices, a swimming pool, a fitness center and parking facilities.
According to the owner, excess land on the site has development rights for an additional 90 residential units. These could be built as apartments, for-sale condominiums or hotel accommodations.
The borrower acquired the property in 2021 and has since purchased additional condominium units and invested in improvements.