Press Release
HYBRID CAPITAL ARRANGES $8.5 MILLION REFINANCING
FOR THREE RESIDENTIAL BUILDINGS ON UPPER EAST SIDE
December 17, 2013 – New York – Hybrid Capital, a New York-based full-service commercial mortgage and advisory firm, arranged an $8,500,000 refinancing for a portfolio of three adjacent residential buildings on the Upper East Side of Manhattan. The properties consist of 20 residential units and five retail spaces. According to Bobby Bakhchi, the CEO of Hybrid Capital who arranged the transaction on behalf of a private investor, the refinancing is a three-percent, 10-year loan with five years of interest only.
Mr Bakhchi commented, “The quality of the asset, with stable cash flow, and the strength of the Upper East Side submarket, as illustrated by the continuing number of new developments and condominium conversions, enabled us to draw interest from a broad range of lenders.”
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.