Bobby Bakhchi, CEO of Hybrid Capital, a full-service commercial mortgage and advisory firm, arranged a $1.7 million construction loan in connection with a townhouse conversion in Central Park North.
Bakhchi said, "Construction financing continues to be plentiful for the right projects with the right sponsorship. Our team was able to efficiently identify a lender and close on the facility within 60 days, allowing our client to execute their strategy ahead of schedule."
The 2-year loan was arranged with a local bank at a floating rate in the mid 4% range on behalf of a private investor.
Over the past three years, Hybrid has arranged financing for transactions valued in excess of $1.5 billion. Hybrid Capital represents 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. Tags: