Tony James revealed as buyer of Ron Perelman’s defaulted debt

Blackstone exec’s family office bought the debt from Citigroup in April for $115M

New York /
Jun.June 03, 2021 10:25 AM
Ron Perelman, Blackstone Group executive Tony James and 35-39 East 62nd Street (Getty, Google Maps)

Ron Perelman, Blackstone Group executive Tony James and 35-39 East 62nd Street (Getty, Google Maps)

The mystery buyer of billionaire businessman Ron Perelman’s debt has been revealed.

The family office of Blackstone Group executive Tony James bought Perelman’s defaulted debt from Citigroup in April, PincusCo reported.

The debt, which originally carried a balance of $193 million, was secured by three properties on the Upper East Side, from 27 to 39 East 62nd Street. It sold for $115 million, a 40 percent discount.

The signatory for a subsequent loan assignment agreement was William Helm, an executive at Jefferson River Capital, according to the publication. Helm is the head of real estate investments with James’ family office.

Cushman & Wakefield brokered the sale of the loans.

The Chapman Group bought two of the buildings backing the loans — 35 and 39 East 62nd Street — from Perelman for $35 million in April. Meanwhile, a 15.3 percent interest in 27 East 62nd Street, a 43,801-square-foot office building, was also sold that month. The stake is valued at $60 million, but the identities of the buyer and seller remain unclear, according to the publication.

Perelman has been on a selling spree, recently selling off several other personal assets, including jets, yachts and parts of his art collection. Now, his former primary residence at 36 East 63rd Street is on the market asking $60 million.

[PincusCo] — Cordilia James





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