Tony James’s Jefferson River acquired Ron Perelman debt from Citigroup

By Adam Pincus and Varvara Budetti

The family office of Blackstone Group executive Hamilton “Tony” James, Jefferson River Capital, was the buyer of the defaulted debt secured by three Ron Perelman properties from 27 to 39 East 62nd Street, city records recorded today reveal. Citigroup sold the debt to Jefferson River on April 9, the property records show.

Bloomberg in late April reported that the debt with a balance of $193 million was sold at a 40 percent discount but did not identify the buyer.

Perelman sold 35 and 39 East 62nd Street to the Chapman Group for $35 million, PincusCo reported in April. A 15.3 percent interest in the 43,801-square-foot office building at 27 East 62nd Street, with a value of $60 million, sold on April 23, city records show, though it is unclear who is the buyer and seller.

PincusCo identified Jefferson River as the loan buyer because the signatory for a subsequent loan assignment agreement was William Helm, an executive with James’s family office.

James hired Helm to be head of real estate investments at Jefferson, according to a 2018 article in The Real Deal. Forbes estimates James has a net worth of approximately $2.5 billion.

The Citigroup loans were in default with a balance of $193 million, and were sold for $115 million, Bloomberg reported, citing unidentified sources. That debt was secured by three properties.

A Cushman & Wakefield team led by Doug Harmon and Adam Spies brokered the sale of the Citigroup loans, the Bloomberg article said.