ST. PETERSBURG, Florida - Bison Financial Group, Inc., a real estate advisory firm based here announces the closing of a $2,512,500 bridge loan to acquire a strip shopping center located in Dallas, Texas. The lender was one of the country's largest commercial lenders and the borrower was a national investment group based in Tampa, Florida.

Bison represented the borrower who acquired the property using tax deferred proceeds of a 1031 exchange. "This was one of the more mentally trying deals we've ever worked on", said Jon Kline, one of the loan originators at Bison. "Hurdles to closing included: the center being only 70% occupied at the initial stages of negotiations, road widening, environmental issues created from dry cleaning and medical tenants and to cap it off the senior loan officer of the bank relocated to another institution 3 weeks prior to closing. Fortunately, our experienced loan closing team soldiered on and got it done on very advantageous terms for our client." The loan was based on 75% of appraised value with a 3-year term and a floating interest rate of 2.85% over 30-day LIBOR resulting in an all-in rate of approximately 4.65% at closing. The largest tenants are Dollar General and Ci-Ci's Pizza with other local tenants including a dry cleaner, local restaurants and various medical tenants.

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 capital 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.