CLEARWATER, FL - Bison Financial Group, Inc., a mortgage brokerage business based here announces the closing of a $12,540,000 development and construction credit facility for the master planned community of Riviera Dunes located in Manatee County, Florida. The loan was placed with a regional banking company and the developer was a Florida based joint venture partnership.

"This is a spectacular piece of property," remarked the developer, Dennis Bradford, "in a one of a kind location directly across from Downtown Bradenton with permits in place to build a 400 slip deep water marina. I doubt if a waterfront property this compelling will ever be allowed to be built again in this increasingly difficult regulatory & environmental control climate."

"We had a series of complex issues and hurdles to overcome," commented David Repka, President of Bison, "requiring the right lender that understood the compelling nature of the location, situs and the entitlements." Upon completion the project will have 227 single family homes and villas, 250 high rise residential units, 400 deep water docks & boat slips and over a hundred thousand square feet of hotel, commercial and retail space. The property is projected to create a quarter billion dollars in property values. All residential homesites have been sold to one of Tampa Bay's most respected luxury home builders, First Dartmouth Homes.

"Bison has been involved with Riviera Dunes since August of 1998 and has completed the 'capital trifecta' on this project," remarked Repka, "having arranged private equity capital, a bridge loan and institutional debt." Bison Financial Group, Inc. specializes in arranging debt and equity capital for distressed real estate and transactions with intense time pressure.