Market Volatility Doesn’t Stop Big Carlton Closings
August 16, 2011
The big closings continue at Carlton with over $500 million of debt and equity being raised in two large, recent Manhattan apartment acquisitions for an iconic developer client, Harry Macklowe.
Moreover, in order to provide the best capital solution for our client, Carlton accessed a major balance sheet lender as well as a $10 billion overseas fund who in separate transactions provided a very high level of acquisition financing (from 100%-130% of the purchase price).
In addition, we also raised a high percentage of the total equity by bringing in an international family office and a major private equity fund that funded a majority of the transaction equity.
This combination of investors and lenders again demonstrates the keen ability of Carlton Chairman Howard L. Michaels and his elite team of private equity real estate bankers in organizing a mutually beneficial capital structure for our client.
These two transactions continue on the heels of over $2 billion of equity and debt recapitalizations of prime Manhattan assets which propelled Mr. Michaels and the Carlton Team to the Number 1 rated Manhattan office, investment sale and recap broker and Number 7 in the United States for all asset types beating out most of the large, national brokerages.
Carlton excels because of its aggressive client advocacy and our 25 year dedicated practice of accessing international and domestic investors and other nontraditional capital sources rather than relying on the typical CMBS capital sources which are now faltering in light of the volatile capital markets.
In addition, Carlton also has expanded and is currently executing well over $1 billion of debt and equity transactions in the United Kingdom, Eastern Europe and Asia which also keeps Carlton in constant contact with international investors looking to invest here in the Unites States.
With summer coming to an end and sellers contemplating bringing assets to market, I encourage you to contact us to either assist you with your next recapitalization, investment sale or any equity or debt which you need to facilitate your next transactions.
