Helios Capital Finalizes Nonperforming Loan Sale

Helios Capital LLC, a commercial loan advisory firm specializing in the sale of small balance commercial loans, loan portfolios and REO assets under $25 million, has completed a $2.7 million nonperforming loan sale for a Manhattan property.

The 18,613-square-foot multi-family building is located on the border of the Upper East Side and East Harlem. The six-floor building totals 30 units, comprising of 25 apartments and five retail stores.

New York-based Brick Realty Capital LLC bought the note and closed within 15 days of the accepted offer. The lender was a regional bank in the New York area.

“The buyer, a local private investor, afforded us with their familiarity and expertise within this submarket, and as a result we were able to quickly source and successfully close this transaction,” said Josh Malka, managing director of Helios Capital. “In this off-market transaction, our client utilized their knowledge of the neighborhood to capitalize on this rare investment opportunity.”

With this transaction, Helios has secured $50 million in the sale of nonperforming loans, performing loans and REO assets since Jan. 1.

“The level of momentum behind us has the team inspired and energized as we enter the second half of the year,” said Steven Schultz, CEO of Helios Capital, Woodbridge, N.J. “Our efforts continue to prove successful and we look forward to working with additional regional banks and institutions within the New York and New Jersey marketplaces, and advising them on similar assignments.”