Kennedy Funding Closes $3 Million Land Loan for Portion of Former Murdock Village Site in Port Charlotte, Florida | Nachricht

ENGLEWOOD CLIFFS, N.J., Sept. 23, 2020 /PRNewswire/ — A long-promised commercial center in Port Charlotte, Florida, will soon be underway, thanks to Kennedy Funding.

The Englewood Cliffs, New Jersey-based direct private lender today announced the closing of a $3 million loan to Lost Lagoon Development for the acquisition of 101.46 acres of land located at 17512 Toledo Blade Boulevard in Port Charlotte.

Lost Lagoon Development purchased the property for $3.755 million and Kennedy Funding closed the loan at80% of the purchase price.

“A commercial real estate loan at 80% loan-to-cost, particularly on raw land, is quite rare in the hard money space,” said Kevin Wolfer, CEO, Kennedy Funding. “Knowing the contract contained several contingencies for rezoning and site plan approvals significantly increased this property’s value and made this an extremely unusual and attractive arrangement. Once the borrower secured the approvals, we were able to

Read More

Protech Home Medical Secures US$20 Million Senior Credit Facility With CIT Group’s Healthcare Finance Business

The MarketWatch News Department was not involved in the creation of this content.

CINCINNATI, Sept. 21, 2020 (GLOBE NEWSWIRE) — Protech Home Medical Corp. (“Protech” or the “Company“) (TSXV: PTQ), (OTCQX: PTQQF), a U.S. based leader in the home medical equipment industry, focused on end-to-end respiratory care, is very pleased to announce that it has entered into a US$20 million senior credit facility with CIT (NYSE:CIT).

Protech has entered into an Asset-Based Revolving Credit Facility with CIT’S Healthcare Finance business, part of its Commercial Finance division, pursuant to which the lender has agreed to advance up to $20 million at a tiered rate, this agreement has a four year maturity and may be extended pursuant to both parties agreement.


“This senior credit facility with CIT is truly a momentous moment for Protech and I could not

Read More

ACT Labor commits to $33 million school renovation program | The Canberra Times

news, act-politics,

ACT Labor has promised to invest in schools in southern Canberra if re-elected. The pledge includes a $33 million spend to replace temporary classrooms and upgrade old buildings at Narrabundah College. Education Minister Yvette Berry said work was under way for a new primary school and high school in the Molonglo Valley. She said if re-elected Labor would begin consulting and planning for new and upgraded schools in the Woden Valley. “With Woden’s population growing, ACT Labor will ensure that new families moving to Woden will have access to great local public schools,” Ms Berry said. Chief Minister Andrew Barr said building and upgrading schools would lead to the employment of 400 more teachers over the next four years. “Our city is facing a huge economic challenge, and creating jobs is our number one priority,” he said. “We have a comprehensive plan to grow our employment base from

Read More

Oregon State’s Reser Stadium remodeling project now carries a $140 million price tag, down from $175 million

The cost to remodel the aging west side of Oregon State’s Reser Stadium has fallen substantially during the past year.

Oregon State athletic director Scott Barnes said earlier this week that the price tag to remodel Reser Stadium is now $140 million. That’s down 20 percent from a projected cost of $175 million at the outset of the project.

Barnes said the project cost is a moving target, and the initial cost of $175 million was conservative estimate. But in the university’s request for proposal document released Oct. 15, 2019, it states the project cost as approximately $175 million, with a direct construction budget of approximately $122 million.

What changed?

Some of it is fine-tuning the project, Barnes said. A more accurate design and better knowing the scope and scale led to a more informed number for remodeling Reser.

The pandemic, oddly, has helped too. It led to market conditions

Read More

Former Number 5 building to undergo $5 million renovation

BINGHAMTON (WBNG) — A developer is spending millions to rehabilitate two historic Binghamton buildings, Mayor Richard C. David announced at a groundbreaking Monday at 33 S. Washington St.

Developer Brett Pritchard aims to spend $5 million to renovate the former Number 5 restaurant building and historic Binghamton fire station on the city’s south side.

In addition, the mayor’s office said Pritchard will construct a new gas station, convenience store, bank and restaurant.

“This project preserves and protects two historic South Side buildings, while redeveloping an underutilized parking lot on a major commercial corridor,” said Mayor David. “With a focus on walkable access, landscaping and building aesthetics, this project will be a neighborhood asset for South Side residents.”

The former restaurant and fire station will be transformed into commercial office space. The former flood-damaged LA Tazza coffee shop will be converted into retail and office space.

Workers have begun demolishing a

Read More