HYBRID CAPITAL ARRANGES $12.5 MILLION PERMANENT FINANCING FOR MIXED-USE PROPERTY ON MANHATTAN’S UPPER EAST SIDE
Locking in rates in a market facing stimulus withdrawal
Wednesday, October 8th, 2014 – New York – Hybrid Capital, a New York-based full-service commercial mortgage brokerage and advisory firm, arranged permanent financing totaling $12.5 million for a five-story mixed-use building in the Upper East Side of Manhattan, New York. The announcement was made by Bobby Bakhchi, CEO of Hybrid Capital.
The property is located on Manhattan’s Upper East Side and with four residential units and three floors of commercial space. In addition to challenges obtaining a proper Certificate of Occupancy for a portion of a retail unit, an intricate family succession added complexity to the transaction.
Despite these impediments, Hybrid Capital was able to move efficiently to leverage our strong relationship with a lender who could close quickly with the terms the sponsor required.
This transaction is another example of Hybrid Capital’s ability to close deals on multifaceted transactions where complications such as zoning conformity and elaborate partnership agreements necessitate identifying lenders that are able to see the bigger picture and execute smoothly.
Over the past three years, Hybrid Capital has arranged financing for transactions 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.
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