Even hurricanes can't stop'em.

Kennedy Funding, Inc. of Hackensack, NJ has closed a $23.3 million loan to Trinity Development Partners, LLC for a waterfront real estate purchase in West Palm Beach, Florida.

The owners of the 119 units had each found their own piece of waterfront paradise in the tallest building in sought-after West Palm Beach. But back-to-back, Hurricanes Frances and Jeanne pounded the area relentlessly in 2004, and Hurricane Wilma added further damage in 2005, turning the 30-story dream community into a nightmare of a business deal for all those involved.

With their building vacant, uninhabitable and boarded up, residents faced another setback--insurers paid only $2 million of repair costs projected to exceed $20 million.

The most appealing option was to sell. Yet one deal after another fell through as lenders seemed unwilling to fund a project with so many complications, such as using land and a heavily damaged building as collateral. The homeowners' association was out of time and money and reduced the asking price.

Enter Trinity Development Partners. Along with equity partner Stillwater Capital Partners, a NY-based hedge fund, they were confident that the complex could thrive again.

Kennedy Funding shared their vision. Naturally, there were complications to the loan.

To renovate or rebuild, changes would need to be made to the building's mid-1970's design.

To meet new codes, requirements and expectations, additional square footage would be needed and parking spaces. With plans in place, Kennedy came through with a loan for $23,300,000.

Coordinating the sale of 119 units is quite complex--and tedious, but Kennedy helped make it happen quickly and smoothly and the property will soon be on its way to being the pre-eminent West Palm Beach address.