CLEARWATER, FL - Bison Financial Group, Inc., a mortgage brokerage business based here announces the closing of a $6,200,000 permanent loan on a 187 unit apartment complex in Sarasota, Florida. The loan was placed with a FNMA DUS lender and the borrower was a Colorado based investment group. The interest rate of 7.7% was fixed for a 10 year term and is payable over 30 years with no personal guarantees.

This loan has a unique, special feature permitting borrowers to re-leverage the property as the value increases. "I think that this Fannie Mae loan program is the hottest permanent loan product in the market today for multifamily properties," comments David Repka, President of Bison. "I don't know another loan program that allows a borrower to finance additional sums as the value increases over time at an interest rate that is truly affordable. All the Wall Street conduit loans I have seen essentially prevent borrowers from refinancing, selling or placing subordinated financing on properties. This loan gives investors more control over their destiny."

Bison Financial Group, Inc. specializes in arranging debt and equity capital for commercial real estate and transactions with intense time pressure. In 1999 Bison arranged over $40 million in senior debt through a network of private and institutional investors. For more information about Bison, visit their web site at www.bisonfinancial.com.