HYBRID CAPITAL ARRANGES $6.375 MILLION PERMANENT FINANCING FOR RETAIL PROPERTY IN YOUNGSVILLE, LOUISIANA
Tertiary markets in full swing
Wednesday, November 26th, 2014 – New York – Hybrid Capital, a New York-based full-service commercial mortgage brokerage and advisory firm, arranged $6.375 million in permanent financing for a retail property in Louisiana. The announcement was made by Bobby Bakhchi, at Hybrid Capital.
The property is located in Metairie, Louisiana and features nearly 35,000 square feet of retail space and was delivered with 100% occupancy. The refinancing was part of a takeout strategy for a construction loan currently encumbering the property.
Hybrid Capital tapped its extensive financing partner network to swiftly identify a lender who could close quickly with the terms the sponsor required.
This transaction demonstrates Hybrid Capital’s national reach; facilitating transactions in tertiary markets where demand had dropped off after the recession of 2008. Hybrid Capital was able to identify a lender that could underwrite the asset’s strong pro-forma cash flow in a remote market by highlighting the asset’s competitive position in its region and its strong tenancy.
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.