In today’s complex real estate finance landscape, access to capital can define which projects succeed and which stall. Hyde Capital, founded in 2017 and headquartered in Santa Monica, California, has positioned itself as a boutique lender focused on filling gaps left by traditional banks. The firm specializes in real estate private credit for transitional properties in prime U.S. markets, offering high-yield, short-duration loans to developers and sponsors navigating acquisitions, recapitalizations, and repositioning projects. Within the first decade of its operations, Hyde Capital has emerged as a trusted partner for projects ranging from $1 million to over $10 million, applying institutional-grade underwriting on a nimble, boutique scale.
The firm targets opportunities that require speed, flexibility, and expertise — areas often underserved by conventional lenders. From bridge loans to construction financing and term loans, Hyde Capital tailors each deal to the specific needs of its clients while prioritizing secured positions and asset protection. Its portfolio includes notable investments in Los Angeles residential developments, including projects funded at $8.8 million and $5.3 million, demonstrating the firm’s ability to execute complex financing transactions efficiently. By focusing on transitional properties, Hyde Capital captures value where other lenders hesitate, supporting redevelopment and repositioning initiatives that drive both community revitalization and investor returns.
This approach reflects a broader trend in real estate finance: the rise of private credit as a critical alternative to traditional banking. Boutique lenders like Hyde Capital bridge the gap between capital supply and nuanced project needs, offering expertise, speed, and bespoke structuring to sponsors seeking to maximize the potential of transitional assets.
Hyde Capital Overview
Founded in 2017, Hyde Capital operates as a direct lender in the U.S. real estate market. The firm’s mission is to provide private credit solutions to transitional properties that often fall outside conventional lending parameters. By targeting value-add acquisitions, recapitalizations, and repositioning projects, Hyde Capital enables developers to pursue opportunities that require speed, tailored structuring, and hands-on financial expertise.
Headquartered in Santa Monica, the firm is lean, employing between two and ten professionals, yet its impact is amplified through strategic, institutional-grade execution. Hyde Capital’s focus on high-quality underwriting ensures that every investment aligns with both sponsor objectives and risk management criteria. Typical deals range from $1 million to over $10 million, allowing the firm to serve small-to-mid cap projects with meaningful capital allocations.
Investment Strategy
Hyde Capital’s strategy centers on opportunistic lending secured by real estate assets. The firm emphasizes short-duration, high-yield credit structures that allow sponsors to act quickly while minimizing exposure to market volatility. By concentrating on transitional properties — those undergoing redevelopment, repositioning, or financial restructuring — Hyde Capital captures value where traditional lenders may be reluctant to commit.
Key components of the strategy include:
Bridge Financing: Short-term loans that enable quick acquisitions or cover financing gaps during repositioning phases.
Construction Loans: Capital for ground-up developments or extensive renovations, structured to align with project milestones.
Term Financing: Flexible debt solutions that can transition into permanent financing upon project stabilization.
Risk Mitigation: Senior secured positions and conservative loan-to-value ratios ensure capital preservation while maintaining attractive returns.
This targeted focus allows Hyde Capital to differentiate itself in a competitive lending environment, providing both agility and discipline to its sponsor partners.
Leadership and Expertise
The firm’s leadership team brings over 40 years of combined experience in real estate finance and capital markets. David Oles, the principal and founder, leverages decades of experience in commercial lending and structured finance to guide underwriting and investment decisions. Alongside him, Tatev Stepanyan, CFA, contributes deep expertise in corporate and real estate finance, focusing on deal structuring and risk assessment.
Despite its small size, the team emphasizes institutional-quality execution. This includes rigorous due diligence, active asset management, and strong sponsor relationships. By combining boutique agility with disciplined processes, Hyde Capital ensures that each deal is executed efficiently, mitigating risk while enabling sponsors to capitalize on transitional opportunities.
Market Position and Deal Flow
Hyde Capital primarily operates in prime U.S. markets, including Los Angeles, where the firm has completed multiple high-profile financing deals. Its deal flow is supported by strategic relationships with developers, affiliate lenders, and note sellers. These partnerships allow Hyde Capital to source unique opportunities and maintain a steady pipeline of high-potential projects.
The firm’s market positioning reflects its ability to operate between traditional banks and large-scale private equity firms. Where large institutions may be slow or hesitant, Hyde Capital provides speed, customization, and a hands-on approach that empowers sponsors to act decisively. This agility, combined with disciplined underwriting, positions the firm as a preferred lender for transitional real estate projects in competitive markets.
Risk Management and Due Diligence
In transitional real estate, risk management is central. Hyde Capital mitigates risk through thorough due diligence, active oversight, and secured lending practices. The firm evaluates sponsors, project feasibility, market conditions, and regulatory factors before extending credit. Loan structures are designed to protect capital while offering attractive yields, including senior positions on assets, conservative loan-to-value ratios, and performance-based covenants.
By combining macro-level market insight with micro-level property and sponsor analysis, Hyde Capital balances risk and opportunity. This approach ensures that both investors and sponsors are positioned for success, even in fluctuating market conditions.
The Human Element in Lending
Relationships are critical to Hyde Capital’s success. The firm prioritizes transparency, trust, and collaboration with sponsors, affiliates, and secondary market participants. Its lean team enables a hands-on approach, ensuring that sponsors receive guidance and capital support throughout a project’s lifecycle.
Unlike large automated funds, Hyde Capital emphasizes personal engagement, fostering partnerships that extend beyond individual deals. This relational approach strengthens deal execution, enhances risk awareness, and allows for creative, customized financing solutions.
Conclusion
Hyde Capital exemplifies a modern approach to real estate finance: boutique in scale, institutional in execution, and opportunistic in strategy. By focusing on transitional properties in prime U.S. markets, the firm bridges gaps left by traditional lenders, offering speed, expertise, and tailored capital solutions. Its disciplined underwriting, active management, and emphasis on relationships allow Hyde Capita’l to deliver both value to sponsors and attractive returns to investors. As the real estate market evolves, the firm’s model demonstrates how focused private credit strategies can successfully navigate complexity, capture opportunity, and support meaningful redevelopment across urban landscapes.
FAQs
What does Hyde Capital do?
Hyde Capital provides private real estate credit for transitional properties, focusing on value-add and opportunistic lending.
Where is Hyde Capital based?
The firm is headquartered in Santa Monica, California.
What types of financing does Hyde Capital offer?
Hyde Capital offers bridge loans, construction loans, and term financing for transitional real estate projects.
Who leads Hyde Capital?
David Oles and Tatev Stepanyan, CFA, lead the firm, bringing decades of experience in real estate finance and capital markets.
What is the typical deal size?
Hyde Capital typically funds projects ranging from $1 million to over $10 million.
