ST. PETERSBURG, Florida- Bison Financial Group, a real estate advisory firm based here, announces the closing of a $1,040,000 loan to refinance a 57 unit portfolio of apartment properties spread over five locations located in the greater Clearwater/St. Petersburg, Florida area. Bison was referred to the borrower by a longtime associate as all previous attempts to figure out a solution for the transaction had failed.
Bison represented the borrower, a St. Petersburg based private investor, who had worked out a discounted pay off (DPO) with his current note holder. “The balance sheet loan allowed our client to take advantage of a discounted loan payoff from the existing note holder and provide funds to implement a capital expenditure program to improve the properties and help stabilize the assets”, said Jared Repka, co-founder at Bison Financial Group.