Carlton Balance Sheet Equity Relationships Benefit Owners and Developers

December 12, 2017

We are writing to encourage you to contact us and take advantage of Carlton’s numerous family office, balance-sheet and international equity investors who are anxious to invest in high quality projects with best-in-class owner-operators. In 2017, we closed more $3 billion of transitional and construction equity and debt transactions, most of which were completed with non-securitized sources of capital. We have been accessing equity for our clients for more than 20 years and provide you with the best priced capital in the market.

We also specialize in structuring passive, promotable equity which will provide you with very attractive economic terms.

Outlined below please find a brief summary of certain of the recent debt, equity and investment sale closings transacted by Carlton:

Madison Avenue Ground-Up Development Transaction – Carlton arranged an equity joint venture and non-recourse debt from an alternative asset investment firm for the assemblage acquisition and development of a rare multi-family project on Manhattan’s Upper East Side.

– Raised 98% of the Capital Stack for North Carolina Hotel Portfolio – Carlton arranged the equity, preferred equity and debt multi-tranched capital stack for a 511-key limited service hotel portfolio located in North and south Carolina branded by Marriott, IHG and Choice. The diverse group of investors include a West coast wealth manager and several HNWs.

– $280 Million Construction Loan In Brooklyn Heights – Carlton accessed a balance sheet investor to top off a $280 million construction loan in a prime Brooklyn Heights location for what will be the most prolific condominium in this sub-market.

– $30 Million Leasehold Financing For Manhattan Hotel Conversion – Carlton arranged acquisition and pre-development financing of an independent hotel on a short-term ground lease on Manhattan’s Theater Row.

– $625 Million Mid-town Manhattan Retail & Hotel Recap – Carlton arranged a multi-tranched capital stack from two U.S. balance sheet lenders in connection as well as a $200 million EB-5 financing, capitalizing this prime midtown Manhattan retail and hotel asset.

$1.25 Billion Dollar Construction Financing On Manhattan Luxury Condo & Hotel – Carlton closed a $1.25 billion construction loan for one of the most acclaimed development projects in New York. This property is 840K sf under development on 1.5 acres and when completed will be the premier lifestyle, luxury condominium and 5-star hotel transaction below 34th Street. As the exclusive advisor, Carlton also arranged the multi-tranche debt stack for the land acquisition financing accessing five different lenders and investors which funded the acquisition of this iconic property.

Carlton Europe – Our Carlton Europe office has closed in the last 18 months fourteen investment sale, debt and equity transactions for assets located in Spain and Italy.

We encourage you to contact the undersigned so that we can put together a great capital stack on your behalf.

Howard L. Michaels

The Carlton Group
560 Lexington Avenue – 10th Floor
New York, NY 10022
(212) 716-5607 office
(212) 867-1305 fax

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