Bison Closes Specialty Loan Secured by a Portfolio of Luxury Movie Theaters
| ST PETERSBURG, FL – Bison Financial Group, a real estate advisory firm based here, announces the closing and funding of a $12.5 million loan participation arranged on a $42.5 million total funding in cooperation with Woodward/Birmingham Financial Group (WBF) out of Southern Michigan.
Bison interviewed over 50 local, regional, and national institutional and private lenders to find the best blend of rate, terms, leverage, and certainty of execution to get the deal funded. According to David Repka, co-founder of Bison Financial, “It was a humbling experience, some lenders actually laughed at the idea of funding a loan secured by movie theaters in a post-pandemic world. We kept at it and were able to find a lender that intimately knew the space, and was comfortable with the risk/reward of lending on a specialized property.” |
Fun fact: this was the second loan closing in the last 6 months in collaboration with WBF. Bison and WBF are members of the Commercial Finance Broker Network with over 100 loan originators from coast to coast.
Since 1994 the principals of Bison Financial Group have closed and funded idiosyncratic commercial real estate transactions for real estate entrepreneurs. Many of these closed transactions are on collateral types that are temporarily out of favor with mainstream, conventional lenders. For more details on Bison’s track record, please follow this LINK. For more information contact David Repka at 727-537-0330 or by email at dave@bisonfinancial.com |