HYBRID CAPITAL ARRANGES $7 MILLION FINANCING
FOR MALL OF THE BLUFFS IN COUNCIL BLUFFS IOWA
December 3, 2013 – New York – Hybrid Capital, a New York-based full-service commercial mortgage and advisory firm, arranged $7,000,000 in financing for a super regional mall and contiguous grocery-anchored shopping center located in Council Bluffs, Iowa. The property consists of more than 600,000 square feet of retail on approximately 77 acres, and is a retail destination for the area, conveniently located adjacent to Route 80. Tenants include Hy-Vee, McDonalds, US Bank, Great Western Bank and Victoria’s Secret. The loan features a 4.0% fixed rate of interest for the initial five years, with a five-year renewal, and represents a loan-to-cost of approximately 85%.
According to Evan Bell, the COO of Hybrid Capital who arranged the transaction, “Despite a high vacancy rate inherited at the purchase, the asset now has an excellent operator, stable cash flow and upside potential, which enabled us to achieve competitive rates and terms for our client. Additionally, the lender was pleased to reinvest in a property that is vital to the community.” Plans call for improvements to the property and a program to lease up the vacant space.
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.