Bison Closes 6th STNL Construction Loan for 95% of Project Cost
|ST PETERSBURG, FL – Bison Financial Group, a real estate advisory firm based here, announces the closing and funding of a sixth STNL high-octane construction loan for a preferred developer of single tenant net leased properties. The loan covers 95% of the developer’s investment required to acquire the land, obtain approvals, entitlements, permits, horizontal construction costs, and cover soft costs. Due to the ongoing pandemic this transaction was funded at 95% instead of Bison’s typical 100% of cost program.
The tenant is Wawa, one of the nation’s fastest-growing gas/convenience store chains. Wawa is a privately owned company with 750+ locations. Wawa is based in Eastern Pennsylvania with roots dating back to 1803.
|The investment group procured by Bison does not share in the equity on the deal or have profit participation, just a strict coupon rate of interest. This was Bison’s 6th Wawa funding in the past 22 months and 24th closing with the key sponsor of their client.
Let us know if you are a developer with more opportunities than your current capital base can cover. The principals of Bison Financial Group can tailor a win-win transaction to bring up to 100% loan to cost financing for the right developer and tenant.