Bison Closes Acquisition of Jacksonville Flex Warehouse Center
ST. PETERSBURG, Florida – Bison Financial Group, a real estate advisory firm based here announces the closing of a 55,000 sf flex warehouse center in Jacksonville, FL. The property was nearly 100% vacant when purchased by their client.
Bison represented the buyer, a northeast based investment group that is always on the lookout for troubled assets with big upside potential. “This transaction was truly a win/win/win for all parties involved. We were originally presented an opportunity to arrange a loan on this asset by a longtime associate whose client had it under contract and sought short-term bridge financing. We presented term sheets on bridge loans as well as an option to “flip” it to a well capitalized, all cash buyer. Since this asset was nearly 100% vacant, the “flip” looked pretty attractive!, said Jared Repka, one of the principals of Bison, “We were able to have our client step into their contractual shoes with approvals and cooperation from the bank as seller, their broker rep, our associate’s original contracted buyer, our client and on down the line.” The transaction closed within weeks of everyone agreeing to terms and having all parties cooperate in an honest and transparent manner.
Bison works with investors nationwide that invest in traditional, vanilla income producing properties (retail, office/industrial, multi-family & hospitality) as well as more unique property types, development projects, credit tenant leases and special situations. Bison has closed complex transactions on commercial real estate in as little as 8 business days. Bison has an array of unique and dependable sources of private and institutional capital willing and able to lend on properties in all shapes, sizes, conditions and locations.