ST. PETERSBURG, Florida - Bison Financial Group, Inc., a real estate advisory firm based here announces the placement of a new $665,000 first mortgage to acquire a 55-space manufactured home community in Port Richey, Florida. The lender was a community bank that Bison has placed multiple loans with since 1997. The borrower was a new single purpose entity organized by a national real estate investor with whom Bison has closed another transaction in the past year. The non-recourse loan is based on a 75% LTV with a term of 7 years and had an initial interest rate of 7 1/8%.

The property features 4 RV sites and 51 homesites including 26 park owned homes. One of the principals of Bison, Jared Repka, said, "This one was a joy to close since this is the second transaction with the same borrower and same lender. Since all parties had been through the closing process before everything flowed effortlessly and there were no surprises. We were able to close this transaction in less than 45 days from the property inspection and handily meet the closing deadline."

Bison works with investors and developers nationwide that invest in multi-tenant income producing properties such as apartments, manufactured housing communities, self storage facilities, hotels, shopping centers and office / industrial buildings. Bison has an array of unique and dependable sources of capital that are willing and able to lend on properties in all shapes, sizes, conditions and locations. Bison has closed complex loans on commercial real estate in as little as 11 business days.