Tower One Ocean

Hybridge Capital Management (HCM) participated as a Limited Partner (LP) in a luxury single-family residential (SFR) development on the Big Island of Hawaii, in collaboration with Max Benjamin Partners (MBP). MBP originated and closed the debt financing, while HCM’s LP investment supported the capitalization of the project alongside the sponsor.

The sponsor—one of the most active developers in Hawaii—has a pipeline of over $100 million in luxury SFR homes planned for delivery over the next three years. To enable this, MBP structured a high-leverage, non-recourse financing solution that credited the imputed value of the sponsor’s land acquisition, allowing the full $100 million program to be financed without additional equity at closing.

This bespoke structure operates as a pseudo-revolver, refreshing every 18 months upon meeting defined development hurdles. The structure ensures flexibility, continued capital access, and execution certainty throughout the buildout of the sponsor’s pipeline.

‍