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Helios Capital Arranges $14M Jersey City Loan Sale

JERSEY CITY-A Woodbridge, NJ-based investor buys the loan on a prime 60,000-square foot Journal Square office and retail building at Bergen Avenue here.

By Debra Hazel | Updated on April 29, 2011

JERSEY CITY-Helios Capital LLC, has arranged the sale of a $14.1 million, nonperforming commercial loan collateralized by 912-924 Bergen Avenue, a three-story, 60,000-square foot urban retail/office asset near Journal Square in Jersey City. Oritani Bank sold the loan at a “slight discount” to a private investor, says Jonathan Horn, senior managing director of Helios Capital. It matures July 1, 2018.

The new loan holder is a “local investor who owns a lot of urban retail, and a lot of assets on Bergen Avenue,” Horn tells GlobeSt.com. “It fit in with his portfolio very well.” The building consists of 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. There is one, 1,350-square foot vacancy in the retail space.

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