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SANTA ROSA BEACH, FLA. — Kennedy Funding has provided a $7.5 million acquisition loan for a land site in Santa Rosa Beach, a city in Florida’s Panhandle. The parcel currently houses a nine-bedroom home that fronts the Gulf of Mexico. The borrower, an entity doing business as 4228 Dana Beach LLC, plans to develop a luxury townhome development on the site. The construction timeline was not disclosed. Based in Englewood, N.J., Kennedy Funding is a direct lender that provides short-term bridge loans ranging from $1 million to $50 million for land purchases, working capital and developments.