$8.12 Million Cash Out Refinance Loan on Florida Multifamily
| ST PETERSBURG, FL – Bison Financial Group, a real estate advisory firm based here, announces the closing and funding of a refinance loan on a 57 unit multifamily apartment property located in Downtown Tampa, Florida that was recently converted from a hotel. This is the third loan Bison has arranged on this project since 2021 when it was originally acquired.
The property is located across the street from a growing University with 11,500 students with a housing crisis that this property will help to alleviate. The fully renovated units are spectacular and include off street parking for tenants. The principals of Bison have worked with the ownership group since 2020 marking this latest transaction the 6th closing with this repeat client. |
This $8.12 million refinance loan provided massive equity repatriation for their client with an interest rate of 5.65% fixed with 3 years interest only payments. The generous cash-out refi will enable Bison’s client to re-invest in new properties and make upgrades to their existing assets 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. |