Bison arranges $15 million line of credit for scattered site rental property acquisitions
| ST. PETERSBURG, FL – Bison Financial Group arranged a $15 million line of credit for the future acquisition of scattered site single family residential and small apartment complexes by their client.
The loan arranged by Bison was non-recourse except for standard bad-boy carve outs with funding for 85% of purchase price plus 85% of rehab on the to be acquired properties. |
Bison worked with one of their preferred funding partners on their fourth loan together to arrange this credit facility. The borrower group is very experienced in the residential rental arena and sought Bison’s expertise through a referral from one of Bison’s associates in the industry. |