Bison Closes High Leverage Construction Loan for Future Wawa Gas/Convenience Store

Bison Closes High Leverage Construction Loan for Future Wawa Gas/Convenience Store

ST PETERSBURG, FL – Bison Financial Group, a real estate advisory firm based here, announces the closing and funding of their 11th high-leverage construction loan for a preferred developer of Wawa gas station/convenience stores in the Northeast. The non-recourse construction loan is secured by a ground lease to Wawa. This non-conventional funding mechanism provides maximum loan dollars for the borrower to acquire the land, obtain entitlements, secure building permits, cover horizontal construction costs, and pay soft costs including interest carry.

Wawa is one of the nation’s fastest-growing gas/convenience store chains. Wawa is a privately owned company with 1,000+ locations based in Eastern Pennsylvania with roots dating back to 1803. Fun fact: one of the previous sites funded by Bison for this development company was celebrated as the 1,000th Wawa store opening! Wawa plans to grow to over 2,000 stores over the next decade.

The investor procured by Bison does not share in the equity upside on the deal or have a profit participation, just a strict coupon rate of return. This closing marks Bison’s 11th high-octane Wawa financing and 30th closing with the key principal of the development firm. According to Bison co-founder David Repka, “We’ve been very fortunate to work closely with such an extremely competent team. As this relationship continues to grow we are in striking distance of breaking our record of thirty-six closings with a single client.”

 This financing program targets developers seeking an alternative to full recourse bank financing that taps out at 55 to 60% of cost. Bison co-founder Jared Repka states that, “This is the ideal program for developers with more opportunities than their current capital base can cover. If a developer is comfortable contributing 40 to 45% of cost in project equity that the increasingly conservative banks require, they do not need us. We help developers with a massive pipeline of projects and limited working capital.”

The principals of Bison Financial Group tailor win-win transactions and can deliver up to 100% loan to cost, non-recourse construction financing for the right developer and financially qualified tenant. This program only works for build to suits and renovations to suit, it does not work for stabilized properties with a capped upside. For more information on this unique program visit this link on the Bison website.

For more information contact David Repka at 727-537-0330 or by email at moc.laicnanifnosibnull@evad