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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.
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