$10.3 Million Refinance Loan on Senior Housing
| ST PETERSBURG, FL – Bison Financial Group, a real estate advisory firm based here, announces the closing and funding of a refinance loan on a 78-bed assisted living and memory care facility located in Upstate New York. This is the tenth loan Bison has closed with this lending team and first with the client, with another property teeing up.
The loan request was originally brought to Bison in mid 2023, but with the horror of the COVID-19 epidemic still affecting the senior population, the property was not able to achieve tenant stabilization until early 2025. The patience of all parties involved with the transaction was truly amazing and led to a successful closing and funding. |
The self-liquidating $10.3 million, non-recourse loan, paid off their client’s high-interest-rate construction loan with a rate of 5.5% fixed on a 35-year term with no-balloon. With this new loan able to be “put on the shelf”, Bison’s client is no longer on the treadmill of constant refinancing every few years and can more easily focus on other properties in their portfolio to enhance the communities they serve.
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. |