Bison Closes Massive Cash-Out Multifamily Refinance Loan
| ST PETERSBURG, FL – Bison Financial Group, a real estate advisory firm based here, announces the closing and funding of a $7,300,000 cash-out refinance loan on a 90-unit multifamily property located in the Clearwater/Tampa, Florida market. The non-recourse loan arranged by Bison has a 30-year amortization on a Fannie Mae execution fixed at 5.97% for 5-years with 3-years of interest only payments.
The loan provided their client with massive cash-out proceeds and was closed in 45 calendar days from loan application. The only way a complex deal like this gets done so quickly is if all parties row in the same direction. The principals of Bison Financial Group pride themselves on being able to get up to speed quickly on a transaction like this and get it closed. |
Interesting Fact: Bison arranged the original loan that was paid off by this refinance 10 years ago. The value of the property increased dramatically over that time period solidifying the fact that multifamily real estate is one of the greatest investments around.
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, and conventional sources of capital. For more information contact David Repka at 727-537-0330 or by email at dave@bisonfinancial.com |