|
ST. PETERSBURG,
FL - Bison Financial Group, Inc., a Bond Street Capital Regional
Branch Office based here announces the closing of a $1,715,000
loan to acquire a free-standing building leased to a franchisee
for Applebee's Neighborhood Grill and Bar, the world's casual
dining leader, with over 1,400 restaurants in forty-nine states
and eight international countries. The lender was a community
bank secured by Bison and their Indiana loan placement partner,
Ray Krebs, also a Bond Street Regional Branch Office for Indiana.
"We were engaged
by the borrower to secure financing on this transaction on
November 25th and the deal needed to close by December 31,
2003", said Jared Repka, one of the principals of Bison, "Getting
people focused on closing a real estate loan in the Holiday
Season is no easy task. Our hat is off to our local partner,
Ray "Monopoly Man" Krebs, a living legend in the Indiana community
banking industry for fulfilling our borrower's wishes." Bison
represented the borrower, a New York investor, and arranged
a 10 year loan with a 25 year amortization that had an interest
rate fixed for the first 5 years of 6.15%.
Bison works
with investors and developers nationwide that invest in multi-tenant
income producing properties and freestanding, single tenant
facilities leased to credit tenants. Bison is a Regional Branch
Office with Bond Street Capital, one of the nation's leading
commercial real estate lenders with an expansive branch office
system covering over 40 markets. "This loan in my mind validates
the Bond Street business model because it represents a transaction
where 2 Bond Street branches pooled their resources to get
the deal done", said David Repka, President of Bison.
|