ST. PETERSBURG, Florida - Bison Financial Group, Inc., a real estate advisory firm based here announces the closing of a $2,000,000 non-revolving construction loan to build Ewing Place, a 10-unit townhouse project. The property is located just East of Downtown Clearwater in a rapidly gentrifying submarket and construction will begin in March 2005.

Bison represented the borrower, a National developer/investor with a Regional office in Clearwater and big plans for future projects on Florida's West Coast. "Our client has a 30-year track record in the real estate development industry", said David Repka, one of the principals of Bison, "but is new to the For-Sale Housing side of the business. We are humbled that a firm that could have built this project on their credit card invited us to be a member of the development team." Bison worked closely with the developer, lender and local broker, Bill Witter of Equity Pro Realty to structure the deal and mitigate the development risks. The interest only loan features an interest rate of Prime plus 1% and was placed with a local bank that Bison closed its first loan with in 1998. 80% of the units were pre-sold when the construction loan closed.

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 and numerous portfolio and capital markets programs.