STNL Cash-Out Refinance Loan – Medical Marijuana Dispensary

$1.9mm STNL Cash-Out Refinance Loan – Medical Marijuana Dispensary

ST PETERSBURG, FL – Bison Financial Group, a real estate advisory firm based here, announces the closing and funding of a cash-out refinance loan secured by a single-tenant net lease property in Tampa, FL. The tenant is a Medical Marijuana Dispensary. Bison’s client is a Florida-based developer committed to this asset class that works with multiple tenants in this medical space across the state.

The loan was placed with a regional lender and features a 5-year fixed rate of 5.75% with payments made on a 25-year amortization schedule. According to Jared Repka, Co-Founder of Bison, “There is a tremendous amount of interest in the medical marijuana space as the benefits to those struggling with health and mental problems have been proven time and again in scientific studies. Our client and chosen lender have successfully navigated the complexities with state and local governments to find mutual success. We are looking forward to announcing additional closings in this niche.”

Fun fact: Considering the massive growth in the medical cannabis space, Bison interviewed over 30 local, regional and national lenders to find the best blend of rate, terms, leverage, and certainty of execution to get the deal funded. 

The principals of Bison Financial Group arrange debt and equity on commercial and investment real estate nationwide. Bison’s clients are entrepreneurially minded investors that constantly need access to creative, unconventional sources of capital. Since 1994 the principals of Bison have closed $2+ billion in transactions including $195 million since the heart of the global pandemic in June 2020 when many lenders pressed the pause button or closed down completely.

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