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YKO Capital, led by Adi Chugh, has solidified its position as the preferred financier for major real estate developers. The firm recently provided a $280 million loan to Vanbarton Group for the residential conversion of the Financial District's 77 Water Street office tower. This deal follows Vanbarton's acquisition of the 26-story building from Sage Realty for $95.5 million, with plans to yield up to 600 apartments.

    As one of the most active developers in converting outdated offices into rental buildings, Vanbarton is taking a proactive approach. "While others are talking about office-to-residential conversions, we're doing it," said Richard Coles, co-head of Vanbarton. This trend has gained significant attention, with Dune Real Estate Partners and TF Cornerstone announcing a $1 billion fund to advance similar projects.

    TYKO Capital's success can be attributed to its ease of working with clients. "Structure, flexibility, nimbleness, and speed of execution are what differentiate us," said Adi Chugh, who has already facilitated $5 billion worth of loans since launching TYKO last year in partnership with Elliott Management.