ST. PETERSBURG, FL - Bison Financial Group, Inc., a mortgage brokerage business based here announces the closing of two apartment loans totaling $7.938 million. Bison represented a Clearwater investment group that refinanced a 201 unit Clearwater apartment community and acquired a 242 unit New Port Richey property less than 24 hours later. David Repka, President of Bison, notes that, "the nonrecourse loans were placed with FannieMae the nation's largest investor in single family and multifamily mortgages and are at a fixed rate of 7.69% for ten years payable over a 25 year amortization schedule."

"Since one deal needed to close to provide the down payment funds for the acquisition we had to juggle a lot of balls to get the lender comfortable with both properties in a very compressed timeframe", said Jared Repka, one of the founders of Bison. This is not the first time Bison has closed a "run for the bus" transaction. In 1999 Bison closed a loan on a 163 unit apartment complex in only 11 days. Bison Financial Group, Inc. also announces their relocation to Downtown St. Petersburg after 7 years in Clearwater. According to David Repka, "St. Pete's vibrant downtown core is a magnet drawing young, growing companies into one of the most liveable & walkable business communities in Florida."

Bison helps real estate entrepreneurs buy, sell and finance investment real estate and has closed approximately $200 million in transactions since 1994.