Carlton Advises on Acquisition Financing for Harlem Development Site
January 9, 2018
Carlton Group Chairman Howard L. Michaels is pleased to announce that Managing Director Jonathan Rosner has arranged the financing for the acquisition of a $27.8 million portion of the Ennis Francis Houses in Central Harlem.
Carlton was the exclusive advisor to Carthage Real Estate Advisors (“Carthage”), an affordable housing developer based in Harlem. This development site is located on West 124th Street between Adam Clayton Powell Jr. Boulevard and Frederick Douglass Boulevard.
The financing was provided by a balance sheet lender. Carthage plans to demolish the existing vacant property and build a 300,000-square-foot complex on the site featuring both residential rental and condominium units.
We encourage you to contact us to discuss how our “off the radar” domestic and international equity and debt relationships and the cutting edge structuring techniques we employ can provide you with the best possible capital stack for your projects.
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, inclusive of two recent dispositions.