JERSEY CITY-Helios Capital, LLC has been retained by a New Jersey regional bank as the exclusive advisor to sell a $14-million non-performing commercial loan secured by a three-story, 60,562-square-foot mixed-use retail/office building here. Located at 912-924 Bergen Ave. in Jersey City’s central business district, the property includes approximately 44,000 square feet of retail space and 16,000 square feet of office space, as well as two advertising billboards and a telecommunication antenna.

“This assignment consists of a non-performing commercial loan which is in foreclosure and the lender, our client, has been awarded summary judgment,” says Jonathan Horn, senior managing director of Woodbridge, NJ-based Helios. “The opportunity to acquire this non-performing commercial loan is a prime example of the continuing trend throughout the New Jersey and New York markets,” namely “the monetary and maturity default of commercial whole loans and their subsequent foreclosure, resulting in an uptick in trade activity for both lenders and investors in this space.”

The bidding process is under way, with the first round of bids due on Friday. “Given its ideal and convenient location in Jersey City, which is a well-populated, easily accessible and highly desirable submarket, we remain confident that we will be able to procure the ideal investor for this opportunity,” adds Helios managing principal Steven Schultz.