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Brokerage
Posted: May 5, 2008
Kennedy Funding closed $9.2 million loan to Vision Real Estate Mgmt.
Kennedy Funding, Inc. has closed a $9.2 million loan to Vision Real Estate Management, Inc., of Buford, Georgia. Developer Scott Harbolt, President of Vision Real Estate, was busy developing a residential/mixed-use community named Edgewater Trails, consisting of over 32 acres. The tract was originally over 43 acres, but Harbolt dedicated 11 wooded acres on the east, where Sewanee Creek runs north and south, to the city of Buford as Green Space.
Phase One of Edgewater Trails called for 200 residential units, divided into single-family lots, townhome lots, townhome live/work lots, and condominium lots. In addition, there was to be over 52,000 s/f of commercial space, including a bank, office spaces, and a restaurant. The landscape is flat, to rolling, to somewhat steep on the northeast, and punctuated with stands of trees in places. All in all, it was a development in an environment, and things were going well.
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