Hoboken, NJ, December 02, 2015 --(PR.com
)-- A NYC private equity opportunistic real estate investment fund and The Green Rock Group, LLC, a New Jersey distressed debt and opportunistic buyer and adviser of real estate, announced the acquisition of the mortgage secured by the 200,000+ square foot commercial industrial building in Monmouth County, NJ.
The undisclosed all cash deal was the first collaboration of the Fund and Green Rock. The Fund's strong balance sheet and operational expertise sheet coupled with Green Rock's experience in structuring and closing note purchases combined their respective resource to quickly close the deal within one week of contract signing.
The well-situated Asset is less than 40 minutes from Newark Airport and the Port of Newark. The property provides immediate access to Route 18, Route 35, Garden State Parkway, and Route 36.
For Green Rock, this Asset marks another closing in a string of non-performing note deals for the rapidly growing firm. Both principals agreed that "As the real estate market evolves, we are looking forward to expanding our relationships, track record portfolio with an even greater mix of non-performing notes and other opportunistic real estate opportunities."
About The Green Rock Group LLC
The Green Rock Group LLC is a New Jersey based adviser, principal and operator of value-added commercial properties. Since inception, the Company refocused its efforts on non-performing loan and opportunistic transactions sourced directly from financial institutions. The Green Rock team brings extensive real estate expertise to each deal including: investment banking, financing, management, valuation, leasing brokerage, mortgage brokerage.
The NYC Private Equity Fund (the "Fund")
The Fund is a private investment firm based in New York City. The firm currently focuses its activities on acquiring debt instruments backed by commercial real estate focusing on two primary strategies, distressed loans and commercial mortgage backed securities (CMBS).