Bison arranges cash out refinance loan for scattered site rental portfolio
|ST. PETERSBURG, FL – Bison Financial Group arranged a low cost, long-term permanent loan on a portfolio of scattered site single family rental homes and small apartment complexes located in Florida and Colorado.
While the properties had several layers of debt on them as the sponsor steadily grew the portfolio over the past decade, it was time to place all the assets under one new loan that also provided massive cash out to the Sponsor.
|The term of 10 years with full term I/O allows for strong cash flow as the assets continue to appreciate in value. The rate was fixed at 4.65% payable interest only for the next 10 years.
Bison worked with one of their preferred funding partners on their fifth loan together to arrange this loan. The borrower is very experienced in the residential rental arena and sought Bison’s expertise on arranging the best blend of rate and terms for their growing portfolio.