Search
 

Helios Capital Kicks Off With $30M in Deals

WOODBRIDGE, NJ-Recently launched Helios Capital LLC completes $30 million in small-balance, non-performing loan sales in its first seven months of operation.

By Maria Wood | Updated on August 17, 2009

WOODBRIDGE, NJ-With a focus on trading small-balance, non-performing commercial loans, Helios Capital LLC has completed $30 million in deals in its first seven months of operation. The local company, an affiliate of Onyx Equities, is run by two former New York City-based private equity fund managers.

Launched in January, the firm concentrates on matching up local and regional banks that want to get non-performing whole loans between $1 million and $50 million off their books with local buyers. It serves the New York Tri-State area and Florida.

Jonathan Horn, senior managing director, tells GlobeSt.com that there is still a wide distance between buyers and sellers, particularly the larger institutions that are unwilling to write-down their paper by a significant amount. Yet by bringing in a local player that gap can be narrowed. “Guys who own in a certain marketplace see more value and can afford to pay a bit more,” he says. “We find local strategic guys, and go after banks in that market. Our buyers are more of the loan-to-own guys who want to buy the debt and own that asset.”

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.