$13 Million Cash Out Refinance Loan on Florida Multifamily
|ST PETERSBURG, FL – Bison Financial Group, a real estate advisory firm based here, announces the closing and funding of a class B multifamily apartment refinance loan on a beautifully maintained property in their hometown of St Petersburg, Florida.
With turmoil in the markets and a refi loan that was underway through another brokerage group and lender being pushed back 60-90 days, the borrower reached out to Bison to find a faster solution. Within 35 days from loan app to closing, all parties worked diligently and smoothly through the loan process, locked the rate at 3.07% for 10 years IO, and got it closed.
|The $13 million non-recourse, interest-only loan provided generous cash-out to our client which will enable them to re-invest in new properties and make upgrades to their existing assets to enhance the communities they serve.
The principal’s of Bison Financial Group can tailor a similar loan scenario across all aspects of the commercial income producing real estate spectrum.