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Helios Closes $23M Loan Sale

WOODBRIDGE, NJ-The nonperforming portfolio previously held by Investors Bank consisted of 26 loans around New Jersey.

By Debra Hazel | Updated on February 17, 2012

WOODBRIDGE, NJ-Helios Capital Advisors announced that the company has sold and closed on a non-performing commercial loan portfolio for Investors Bank totaling approximately $23 million, according to Helios CEO Steven M. Schultz. The portfolio consists of 26 individual loans secured by various asset types throughout the New Jersey market.

Helios was engaged as an exclusive advisor to Investors Bank and closed the deal with a New York-based fund investor and a local New Jersey operator. Helios widely marketed the pool and used a controlled sale to market the portfolio. There were two rounds of bidding; an indicative and final best bid, and Helios was able to close the transaction within a 90-day period.

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