October 17, 2007
Issue: 14.10
David (Repka) vs. Goliath
 
Greetings!
Last night I was watching the ALCS. It was good to see the Indians in the mix as opposed to a duel of the usual suspects. As my mind wandered (it was baseball after all) I wondered how the team payrolls stack up... after some Googling I learned that the Red Sox have a $143 million payroll vs. a $61 million payroll for the Indians (who beat the Yankees, a team with a $195 million payroll, to get to this stage).

2007 MLB Team Payroll List

What does this have to do with real estate finance? Our lead story this month is about how we saved a deal at the 11th hour by bringing in a small, nimble, creative lender to replace the household name "Goliath" (brought in by someone else) that stumbled on the way to the altar. Kinda like a team with the 23rd ranked payroll besting the teams with the two highest payrolls!



Since 1994 Bison has been the "go to" resource for wealthy real estate entrepreneurs to find capital and compelling investment opportunities. Let us know how we can be of service in either capacity.

Best wishes,
David Repka
Multi-Housing World Update...

Last month I was one of the speakers at Multi-Hosing world in Orlando. I spoke about the growing trend of reverting projects planned as condos to rental apartments.

Send me an e-mail if you would like me to send you a copy of the presentation.
Bison Closes $15.5 million Loan in 17 Days
When the phone rang and the conversational pleasantries ended... we knew our customer was in a pickle. They had close to $2 million in funds invested in hard, non-refundable deposits and due diligence costs against a $25.5 million purchase price. They had a sixth sense that their lender was getting cold feet and would not execute on their promises. Our client wanted to know if we could find a solution and get it done within a matter of days not weeks or months.

Their instincts would soon confirm that they would be left at the altar by one of the largest lenders in the United States. The clock was ticking and the Bison Brothers would need to saddle up the White Horse and save the day once again...CONTINUED

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In This Issue
Multi-Housing World Update
Bison Closes Loan in 17 Days
Tampa Bay: Land of Opportunity
Looking for Opportunities
Tampa Bay: Land of Opportunity

The Tampa Bay Area has recently been called the Nation's best market to buy a home.

Chaos in the market has created a buying opportunity not seen since the RTC/FDIC days of the early 1990s.
Looking for Opportunities

We have been engaged by a private investment group to locate compelling opportunities in Florida.

We will consider existing properties that need to be repositioned as well as ground up development deals.

Provided we can generate our target returns we are pretty flexible on deal structure and will entertain outright purchases, joint ventures, highly leveraged structured debt and participating equity.

Contact David Repka at 727-289-4400
David Repka
Bison Financial Group  -  727-289-4400
No Maybes
Tired of being told "maybe" by your current lenders? At Bison Financial Group we say Yes! or No! on the first phone call. Our deal flow has increased substantially in the last couple of months. Since we learned our trade in the wild and crazy RTC/FDIC days of the late 1980s and early 1990s we interpret this to mean that underwriting criterion and regulatory scrutiny has tightened down considerably. Our track record at closing complex transactions in as little as 8 days speaks for itself. When you are tired of the run around... please call or e-mail.