Schultz and Horn of HCA secures buyer of $7.3 million non-performing loan

Helios Capital Advisors has completed the sale of a non-performing commercial loan collateralized by a 104-unit apartment building with a UPB of $7.3 million. HCA's Steven Schultz, CEO and co-founding member, and Jonathan Horn, senior managing director and co-founding member, secured the buyer, a N.Y./N.J. regional investment group who acquired the note for $7.3 million. "It was imperative to the lender that this trade be completed by the end of the second quarter. In fact, we were able to have the deal successfully closed within two weeks by leveraging our existing raid Horn. "Our firm remains extremely active within the small balance commercial mortgage loan and REO sales space and we look forward to continued success in the near future throughout the real estate markets of New York, New Jersey, Pennsylvania and Connecticut." This 104-unit residential asset is well situated within minutes from Rtes. 1, 9 and 28, as well as Interstate 95. Situated in Union County, within New Jersey's fourth largest cities, the property features amenities such as an on-site super and garage parking and is bordered by Linden, Roselle and Roselle Park. "This is a high quality asset with good occupancy," notes Mr. Schultz. "We stepped in because the value of the property needed to be adjusted in order for the deal to work financially. As we approach the end of the second quarter, Helios Capital Advisors continues to grow and enhance the level and sophistication of services offered to our expanding client base. With the high volume of transactions in the pipeline, I remain confident in our team's ability to source and complete deals in this challenging economic environment and I look forward to what the future holds for this firm."