Press Release
HYBRID CAPITAL ARRANGES $3 MILLION FINANCING
FOR SOUTH BRONX RETAIL PROPERTY
Improving Fundamentals in Mott Haven Section Attracting Business Investment
February 5, 2014 – New York – Hybrid Capital, a New York-based full-service commercial mortgage and advisory firm, arranged $3 million in permanent financing for a 5,000 square foot, single-tenant retail property in the South Bronx. The announcement was made by Bobby Bakhchi, CEO of Hybrid Capital.
The newly constructed property is 100% occupied by Dollar Tree, a value-oriented household supplies and handcrafted items retailer. According to Mr. Bakhchi, “The strong credit of the tenant enabled us to secure competitive financing. The low property taxes, attractive commercial rents and recent investment by the city in the Mott Haven area are drawing business investment to the South Bronx, and local lenders are taking a look at opportunities in the region, given its proximity to Manhattan.” The 10-year loan was arranged with a local bank on behalf of a private investor.
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.