450 West 33rd Street
October 3, 2011
This asset had an approximate $600 million multi-tranche capital stack, which was owned by a variety of senior and junior lenders. The junior lender had retained another broker to sell their position, which was sold to two large real estate companies that were determined to gain control of the asset. Carlton worked quickly and quietly, arranging a competitive process, which allowed our client to gain the necessary funds to buy out their original capital partner and stabilized the capital stack. This recapitalization allowed our client to maintain both control and management of the property prospectively.
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