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Colchester development gets funding

May 27, 2016 12:00 am • Last Updated: May 27, 2016 1:27 pm

Kennedy Funding Financial has closed a $1.6 million loan for a 16-acre development site in Colchester, the company announced Friday.

Kevin Wolfer, CEO of the Englewood Cliffs, NJ-based direct private lender, said the two-year, interest-only funding was provided to Settlers Greene LLC, an affiliate of owner J Healy Builders LLC, and will be serviced by KFF.

Known as Settlers Greene, the property at 312 Lebanon Ave. is considered a prime development site. The Colchester Planning and Zoning Commission has approved mixed-use residential and commercial condominium development at the site, with 67 units totaling 162,000 square feet.

For more information about the lender, visit www.kennedyfundingfinancial.com.

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