Bridge Loan – $3,700,000 – Sarasota FL Bison Arranges Loan for Future Downtown Sarasota Hotel
ST. PETERSBURG, Florida- Who says Florida tourism is dead? Believing that the west coast of Florida will continue to be a magnet drawing visitors from around the globe, Bison Financial Group arranged a bridge loan used to acquire a future development site in prime downtown Sarasota, Florida.
The loan facilitated the assemblage of multiple parcels into a larger tract ideal for a 150 to 200-key hotel to be branded by one of the world’s leading hospitality companies.
According to David Repka Founder of Bison, “We’re excited to be part of the renaissance of downtown Sarasota. This site is within walking distance of all that this amazing, picturesque city has to offer both now and in the future. This is a true Class A site at a Main and Main location.”
Once terms were agreed upon the loan for $3.7 million funded 14 days later.
With the near shutdown of the capital markets the founders of Bison, David Repka and his brother, Jared Repka, have built a reputation for closing complex real estate deals by being able to clearly define a borrowers needs and match them with the right lender to provide a positive outcome for all parties.
Bison is an advisor to a network of local, regional, national and international real estate entrepreneurs that buy, renovate and develop properties in Florida and select markets nationwide. The principals of Bison have high level, long-term relationships with stable sources of debt, mezzanine and equity capital. Bison arranges capital for development, construction, value-added situations and stabilized income producing properties.