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09/04 Press Release
 
 
 

Bison Arranges Acquisition Loan for
Corporate Headquarters of Local Public Company

ST. PETERSBURG, FL - Bison Financial Group, Inc., a real estate advisory firm based here announces the closing of a $1,215,000 acquisition loan used to acquire an existing commercial property that will be substantially leased to affiliates of a local public company, Title Consulting Services, Inc. (Pink Sheets: TILC). The property is located in Pinellas Park, Florida at the corner of 53rd Street N. and 62nd Ave. N. The lender was a Florida based community banking company that Bison began a relationship with in 1999.

The loan has a 10-year term with a 20-year amortization with an initial interest rate of Prime plus 1/2% for the first 12 months and allows for a future advance up to $2.5 million as the rehab progresses and additional tenants are secured. The facility is 27,000 sq. ft. allowing incredible flexibility of configurations and finishes for tenants that require a combination of office, showroom, warehouse and distribution uses. "There is also excess developable land available that will permit a variety of commercial and retail ventures", said David Repka, one of the principals of Bison.

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 (www.bondstreetcapital.com), 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. For more information on Bison Financial Group, Inc. please visit www.bisonfinancial.com.