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ST. PETERSBURG,
Florida- When the phone rang and the conversational pleasantries
ended, David Repka, Founder of Bison Financial Group, a real
estate advisory firm based here, knew his potential customer
was in a pickle. They invested $2 million as a hard, non-refundable
deposit against a $25.5 million purchase price and now they
had a sixth sense that their lender (one of the largest in
the United States) was getting cold feet and would not execute
on their promises. The client wondered if Bison could find
a solution and get it closed within a matter of days, not
weeks or months.
The clock was
ticking and the Bison Brothers would need to saddle up the
'White Horse' and save the day once again. The Founders of
Bison, David Repka and his brother, Jared Repka, have built
a reputation for closing complex real estate deals in as little
as 8 days from the first time they met a borrower. They were
up for the challenge and 17 days later the borrower closed
on their acquisition of a South Florida office complex with
3 buildings totaling 185,852 sf and an additional 3 buildable
acres for future construction.
According to
Jared Repka of Bison, "The property was over 96% occupied
when we closed the loan with a strong, positive cash flow.
The borrowers were experienced investors that found a diamond
in the rough. We brought in a commercial real estate savvy
lender that immediately saw the value and the upside potential
of this asset. Because we have closed over 30 transactions
with this lender since 1997 we know their policies and procedures
inside and out and are able to get loans closed fast."
Bison is an
advisor to a network of local, regional, national and international
real estate entrepreneurs that buy and develop properties
in Florida and select markets nationwide. Bison funds development/
value-added properties and stabilized income producing properties.
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