Hybrid handles $5.3 million in acquisition financing

Hybrid Capital, a New York-based commercial real estate capital advisory firm, arranged $5.3 million in purchase financing for three adjacent multifamily properties. The announcement was made by Bobby Bakhchi, chief executive officer at Hybrid Capital. The properties comprise a combined 70 multifamily units. The transaction was part of a 1031 exchange including an assumption of a seller's mortgage, and two separate mortgages collateralized by the second and third properties. To facilitate the transaction, Hybrid Capital had to coordinate multiple closings that required a loan assumption in addition to two other first mortgages. The success of the operation highlights Hybrid Capital's acumen for coordinating transactions with intricate logistics. "Our strong relationship with the lenders helped us secure a competitive 3.125% interest rate and a 10-year term for our client" said Yaron Cohen, Director at Hybrid Capital. Over the past four years, Hybrid Capital has arranged financing for transactions valued in excess of $2 billion.