ST. PETERSBURG, FL - Bison Financial Group, Inc., a mortgage brokerage business based here announces the closing of a loan to refinance a 51,576 square foot Pinellas County unanchored shopping center. The loan was for $2.24 million and it was placed with a local, community bank.

Bison represented the borrower, a California investment group that acquired the property in December of 2000 when it was only 80% occupied. "A lot of credit on this transaction goes to the property manager, Pauline A. Pappas, and her team at Pappas Retail Leasing and Management, Inc. since they were able to increase the occupancy from 80% to 100% in just a few months," said Jared Repka, one of the founders of Bison.

His brother, David Repka, adds, "Since Wall Street investors have recently snubbed unanchored retail properties, we found the best blend of rate, terms and leverage with a local lender relationship of ours. They applied common sense not arbitrary formulas to understand why this unique, well located property made a high quality, low risk loan." Tenants include Lifestyle Family Fitness, Rent-A-Center, Beef O'Brady's and Roadhouse Grill.

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