Hirshmark Capital is a full-service, vertically-integrated, private equity investment firm focused on commercial real estate equity and debt opportunities. Since 2010, Hirshmark has purchased and originated in excess of $600 million worth of commercial equity and debt transactions. Hirshmark does not employ a fund structure. The company has several sources of capital, such as insurance money, institutional backing and family offices.
Their quick and easy process allows them to be flexible and cater to borrowers’ needs. No uncertainty of facing loan committee, ‘red tape,’ or dealing with upper management. Originators, underwriters and principals work on the deal together. Hirshmark has the ability to put out approved terms quickly and close to meet urgent deadlines.
High-Level Lending Parameters
Loan Amounts: $500,000 – $5 million
Loan-to-Value: Up to 75% LTV
Lending Terms: Up to 3 years
Interest Rate: 6.5 to 9%
Markets: NYC – hyper focused on boroughs
Asset Classes: Property type agnostic: Multi, industrial, retail, office, mixed-use, land, condo, etc.
- Office: Prime Park Slope – due to COVID, office tenants had vacated the property and the borrower was in default, accruing 24% on their interest payments. Sponsor added a piece of collateral with no debt on it, and Hirshmark provided a $5.2 million loan to take out the existing lender, closing in less than 3 weeks.
- Condo: Borrower’s construction loan (at ~11%) was maturing. Sponsor was about 85% done with construction. Provided a $9.2 million loan to take out existing lender and finish the condo buildout.
- Land: Sponsor purchasing development site in Brooklyn for $33 million. Hirshmark provided the land acquisition at 60% LTPP.