$11.5 Million Land Loan Funded
|ST PETERSBURG, FL – Bison Financial Group, a real estate advisory firm based here, announces the closing and funding of a covered land play cash-out refinance loan.
Bison arranged the cash-out refi paying off a full recourse loan that was ballooning and provided the client with cash-out with a new loan that only has recourse of $1mm. The interest rate is lower and gives our client the runway to upzone this strategic, high-traffic location to a much higher and better use. A total win for our client.
|Fun fact: The property is strategically located in the Tampa MSA with excellent access from Downtown Tampa and the Gulf Beaches. Our client is a legend in our area and has already asked Bison to work on future transactions.
The principals of Bison Financial Group can tailor a similar loan scenario across all aspects of the commercial income producing real estate spectrum.