Bison Closes Construction Loan for 95% of Project Cost
|ST PETERSBURG, FL – Bison Financial Group, a real estate advisory firm based here, announces the closing and funding of another high-octane construction loan for a developer of single tenant net leased properties. The loan covers 95% of the developer’s investment required to acquire the land, obtain approvals, entitlements, permits, horizontal construction costs, and cover soft costs. Due to the ongoing pandemic this transaction was funded at 95% instead of Bison’s typical 100% of cost program.
The tenant is Wawa, one of the nation’s fastest-growing gas/convenience store chains. Wawa is a privately owned company with 750+ locations. Wawa is based in Eastern Pennsylvania with roots dating back to 1803.
|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 was Bison’s 5th Wawa funding and 23rd closing with the key sponsor of their client.
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.