HYBRID CAPITAL ARRANGES $2.0 MILLION IN PERMANENT FINANCING FOR RETAIL PROPERTY IN SAG HARBOR
Alternative financing options for small business owners
Tuesday, February 17th – New York – Hybrid Capital, a New York-based full-service commercial mortgage brokerage and advisory firm, arranged $2.0 million in permanent financing for a restaurant in Sag Harbor. The announcement was made by Bobby Bakhchi, CEO of Hybrid Capital.
The property is located in Sag Harbor, NY and features nearly 35,000 square feet of retail space. The refinancing was part of a strategy to dramatically lower the sponsors’ borrowing costs by replacing a credit revolver used to finance the restaurant operation with a $2.0 million permanent loan and cashing out the sponsors’ equity in the property.
By presenting the asset as a single-tenant, owner-occupied building, Hybrid Capital was able to increase the sponsor’s borrowing capacity and consolidate their credit lines which significantly lowered the sponsor’s borrowing costs by eliminating credit revolver fees.
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.