Javlin Capital enters into relationship with First Equity Capital to purchase non-performing residential mortgages and “REO”
Javlin Capital LLC (“Javlin”) has entered into a financing and investing relationship with New Jersey-based First Equity Capital to provide First Equity with an integrated facility of debt and equity to finance its purchases of non-performing residential mortgages (“NPLs”) and bank-owned homes (“real estate owned,” “REO”) in the State of New Jersey.
The facility will enable First Equity to capitalize on evolving conditions in the New Jersey market for NPLs and REOs. In a state noted for having the nation’s longest timeline to foreclose, First Equity’s sole focus on New Jersey gives it a competitive advantage in valuing properties and pursuing strategies to restore the productive value of the real estate it acquires, including loan modifications for owner-occupied houses to sales at prevailing market prices for vacant properties.
John Child, managing partner of First Equity, applauded the partnership with Javlin. “Javlin’s commitment to helping firms like ours grow and ‘institutionalize’ our operations sets it apart from other capital partners,” said Mr. Child. “Javlin’s on-demand capital and support for our analytics and servicing strategies will help us move quickly and achieve scale.”
Rob Johnson, CEO of Javlin, welcomed the partnership with First Equity. “John Child and his team have demonstrated the value of their operating strategies,” said Mr. Johnson. “With Javlin’s value-added support for its analytics and operations, First Equity is ready to hit its stride.”
Javlin Capital LLC provides debt and equity capital to acquire service intensive consumer and commercial assets. Javlin provides its partners with integrated portfolio finance that is flexible, reliable and cost efficient, leveraging an extensive origination network and a flexible, data intensive and operationally focused underwriting platform. Javlin’s partnership approach and expertise in operations and corporate development deliver value to its operating partners beyond the capital it provides.
First Equity Capital is a leading buyer of non-performing first and second residential mortgages and bank-owned properties located in the State of New Jersey. First Equity’s proximity to and knowledge of the local market enables it to achieve favorable outcomes in connection with multi-faceted strategies to restore the productive value of the NPLs and REOs it acquires, ranging from loan modifications for owner-occupied homes to sales at prevailing market prices for vacant properties.