Press Release
HYBRID CAPITAL ARRANGES $10 MILLION IN CONSTRUCTION FINANCING
TO CONVERT TRIBECA BUILDING TO LUXURY RENTALS
December 16, 2013 – New York – Hybrid Capital, a New York-based full-service commercial mortgage and advisory firm, arranged $10,000,000 in construction financing to convert a vacant six-story loft-space building on Franklin Street in Tribeca into luxury residential rentals, with ground floor retail. According to Bobby Bakhchi, the CEO of Hybrid Capital who arranged the transaction on behalf of a private investor, “Tribeca continues to be one of the hottest residential markets in the city, and this well-located property directly across from Nobu Restaurant generated strong interest from a wide range of lenders.” Plans call for construction on the property in this historic district to begin immediately.
Over the past three years, Hybrid Capital has arranged financing for properties valued in excess of $1.5 billion.
About Hybrid Capital
Hybrid Capital (Hybrid) is a full service commercial mortgage brokerage and real estate capital advisory firm representing clients nationwide in the course of acquisitions, recapitalizations and construction/development projects. The firm has a track record of success in securing financing for all property types including multifamily, retail, industrial, hotel and mixed-use properties.
Hybrid creates value for its clients by delivering optimal rates and terms for even the most complex transactions through a multi-disciplined, research-driven understanding of the asset, and a depth of relationships with the full spectrum of commercial real estate lenders, including domestic and foreign banks, investment banks, pension funds, REITs, insurance companies, opportunity funds, hedge funds, and private lenders. Hybrid is one of the fastest growing real estate capital advisory firms, providing service for debt and equity placements, mezzanine debt and preferred equity.