ST. PETERSBURG, Florida - Bison Financial Group, Inc., a real estate advisory firm based here announces the closing of a $7,000,000 high leverage bridge loan to acquire a class "C" multifamily community located in Tampa, Florida. The lender was a community bank that Bison has placed multiple loans with since 1997.

Bison represented the borrower, a New York investment group looking to expand their holdings in the Sunbelt. "We structured a senior loan and a mezzanine loan around the limited cash the buyer could generate as net proceeds from a 1031 exchange", said David Repka, one of the principals of Bison, "Because of the lenders confidence in the Tampa apartment market and the sponsor's profound management track record we were able to secure overall leverage of approximately 85% loan to cost entirely on a non-recourse basis." The non-recourse loan was structured with a 2-year term and an interest rate that works out to 7.05% as a blended rate.

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 has an array of unique and dependable sources of private and institutional capital willing and able to lend on stabilized and turnaround properties in all shapes, sizes, conditions and locations. Bison has closed complex loans on commercial real estate in as little as 11 business days.