Last year, Hybrid Capital placed about $350 million, CEO Bob Bakhchi tells GlobeSt.com. This year, he estimates, that number will probably be closer to $250 million. GlobeSt.com spoke with Bakhchi about where he thinks capital markets are headed this year in general and his pipeline specifically.
GlobeSt.com: What deals are you working on right now?
Bakhchi: We are recapping a hospitality asset in Chicago, recapping some office deals in Manhattan, financing a medical office acquisition on the Island. In fact, one of the few areas still performing well is owner occupied commercial buildings -- specifically in the medical field. Those loans can secure 6% long term financing at 75% LTV. We mainly focus on the Northeast but we do sometimes do a deal on the West Coast. Right now, in fact, we are providing a $30 million bridge loan for a multifamily property in Oceanside, CA. It is for an acquisition.
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Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
