HYBRID CAPITAL ARRANGES $6.5 MILLION IN BRIDGE FINANCING FOR MIXED USE OFFICE PROPERTY IN LOS ANGELES, CA
Hybrid Capital arranges financing for New York client using local LA financing partner
Wednesday, March 17th, 2015 – New York – Hybrid Capital, a New York-based full-service commercial mortgage brokerage and advisory firm, arranged $6.5 million in bridge financing for a Class-A mixed use office property in Los Angeles, California. The announcement was made by Bobby Bakhchi, CEO at Hybrid Capital.
Located in Los Angeles on a prominent thoroughfare, the high-end, 80,000 square feet mixed use office property comprised of approximately 50,000 square feet of office space with nearly 30,000 square feet of retail. With significant tenant rollover and upcoming vacancies, the task faced by Hybrid Capital was to locate a lender that could overcome these challenges and provide low cost non-recourse financing.
Hybrid Capital successfully identified a local LA lender that was able to provide $6.5 million of three-year, non-recourse bridge financing with a variable rate of 3% at the time closing.
“This transaction highlights our strong relationships across the country and our ability to deliver exceptional service to our clients operating at the national scale.”
Since inception, Hybrid Capital has arranged financing for transactions valued in excess of $2.5 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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