ST. PETERSBURG, Florida - Bison Financial Group, Inc., a real estate advisory firm based here announces the closing of a $2,235,000 bridge loan to acquire the neighborhood shop space of a retail center in Jacksonville, Florida anchored by Albertson's Grocery Store. The Albertson's is owned separately and not part of the lender's collateral. The lender was a community bank that Bison has placed multiple loans with since 1997.

Bison represented the borrower, a California investment group that acquired the property using proceeds from a 1031 exchange. "Although the property was only 80% occupied at the time the loan was negotiated we were able to get the lender comfortable with the transaction and the profound track record of the borrower", said David Repka, one of the principals of Bison. The non-recourse loan was based on 75% of appraised value with a 5-year term and an initial interest rate of 6 7/8%. Tenants at the property are a mix of national, regional and local tenants including: FiServ, Dollar General, H&R Block, Ivey's Trophies, Florida Furnishings and others.

Bison works with investors and developers nationwide that invest in multi-tenant income producing properties and freestanding, single tenant facilities leased to credit tenants. Bison has an array of unique and dependable sources of capital willing and able to lend on properties in all shapes, sizes, conditions and locations. Bison has closed complex loans on commercial real estate in as little as 11 business days.