Bison Closes $32 Million Construction Loan for 100% of Cost
|ST PETERSBURG, FL – Bison Financial Group, a real estate advisory firm based here, announces the closing and funding of a $32 million loan for a developer of single tenant net leased properties at 100+% of cost. Tenants include Wawa, McDonalds, 76 Gas-Convenience Store, and Arby’s.
The loan covers 100% of the developer’s investment required to acquire the land, obtain approvals, entitlements, permits, horizontal construction costs, and cover soft costs. The collateral includes 4 site locations in Florida and New Jersey.
|The investment group procured by Bison does not share in the equity on the deal or have profit participation, just a strict coupon rate of interest. This closing marks Bison’s 9th high-octane Wawa financing and 28th closing with the key principal of the developer.
Let us know if you are a developer with more opportunities than your current capital base can cover. The principals of Bison Financial Group can tailor a win-win transaction to bring up to 100% loan to cost financing for the right developer and tenant.