CLEARWATER, Florida - Bison Financial Group, Inc., a commercial mortgage brokerage business based here continues the loan 'circle of life' by arranging the refinancing of three Florida multifamily properties with long term, low interest rate debt. Bison previously arranged the nonrecourse bridge loan for the properties acquisition just 14 months ago on behalf of one of their clients who now own in excess of 1,000 units in the Sunshine State.

A new 30 year first mortgage was placed on the following three properties: An 88 unit apartment complex in Seminole County, Florida with a loan amount of $2.020,000; a 70 unit apartment complex in Palm Beach County, Florida with a loan amount of $2,635,000; a 39 unit apartment complex in Pinellas County, Florida with a loan amount of $1,075,000. The loans were placed with a Wall Street mortgage conduit lender.

According to David Repka, President of Bison, "it is exciting to be involved with a group of investors that 'walk their talk'. When the properties were acquired last year there were serious vacancy and deferred maintenance issues. Within just a few months these issues were resolved and the properties experienced a significant jump in NOI. We were able to arrange financing for an amount in excess of the purchase price from little more than a year ago."

Bison Financial Group, Inc. specializes in arranging debt and equity capital for distressed real estate and transactions with intense time pressure.