Carlton Group Spain Closes Two Major Transactions in Barcelona And Marbella
October 24, 2016
Carlton Chairman Howard L. Michaels is pleased to announce that Carlton Group Spain has closed two major investment sale transactions.
The first deal was the sale of a large, prominent office building in Barcelona CBD to a major Italian core fund who is making its first investment in Spain. Carlton exclusively represented one of the largest and most distinguished family offices in Spain on the sale of this prestigious asset.
The 131,000 sf office asset was ostensibly leased to two well-known but non-credit tenants who occupied the property which was sold for a very beneficial cap rate for the owner. Moreover Carlton was able to achieve this execution because aside from accessing an off-the-radar out-of-country buyer, Carlton also lined up seven year, interest only, non-recourse first mortgage at an amazingly low 1.40% margin spread which facilitated the transaction.
The second deal was the sale of a luxury residential complex in the resort area of Marbella along Spain’s Costa del Sol. Carlton not only arranged the sale of 63 apartments with their respective parking lots but was also able to secure acquisition financing for the buyer with optimal terms, including two years of interest-only debt service.
This transaction represents the sixth and seventh recent successful closings by Carlton Group Spain, underpinning our position as the highest value-added advisor for our clients in relation to investment sales and financing of assets in Spain and Portugal.
In sum, Carlton Group Spain provides its clients with tremendous transactional expertise with one of the best international balance-sheet investor rolodexes and an ability to creatively structure transactions which are highly beneficial to Carlton’s clients.
Please contact us to schedule a meeting and discuss your large debt and equity needs.
Howard L. Michaels Javier Beltran
Chairman CEO – Spain & Portugal
hlm@carltongroup.local jbeltran@carltongroup.local
(212) 716-5607 +34 91 290-3211
About The Carlton Group
Founded in 1991, The Carlton Group is an international real estate investment banking firm that specializes in arranging equity partnerships and executing large, complex, often multi-tranche equity and debt transactions for large development and trophy assets.
The firm has offices throughout the United States and Europe and has consummated well in excess of $125 billion of closed transactions for its high-profile roster of clients. The Carlton Group also executes an aggressive international advisory platform which is currently executing well over three billion dollars of equity, debt and investment sale advisory business throughout Europe. Carlton’s expertise includes arranging passive promotable equity, typically raising 90-95% of the equity to facilitate client transactions. Carlton is also an active principal investor and, under Carlton Strategic Ventures, owns and manages in excess of 3 million square feet of commercial, residential and retail property.
