$6.3mm Assumption and Supplemental Loan Closing
| ST PETERSBURG, FL – Bison Financial Group, a real estate advisory firm based here, announces the closing and funding of a $6.3mm loan assumption and supplemental loan secured by a multifamily apartment property in the Tampa, Florida MSA. The transaction involved a sale of the property to a California based investment group looking to expand their footprint in the southeast.
Bison was brought in for their expertise as they arranged the original loan that was assumed while assisting with the new supplemental loan to increase leverage on the property. The combined non-recourse loan has a fixed rate of 4.56%. Bison placed the loan with one of their favorite multifamily lenders that they have closed 8 transactions with to date. |
Fun fact: Bison has worked with the seller of this property for over 20 years. We take pride in building long lasting relationships that result in positive outcomes for all involved. The principals of Bison Financial Group arrange debt and equity on income-producing commercial real estate properties nationwide. Bison’s clients are entrepreneurially minded investors that constantly need access to creative, unconventional sources of capital. Please follow this link to Bison’s Track Record – LINK. |